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    Newly Constructed Second Floor Condo Title is generated by Realmo AI

    1294 COOPER ST. C06, Edgewater Park, NJ 08010

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    Claim this Listing
    For Sale
    $200,000

    Modern condo with new appliances and stylish finishes.

    Type:Condo/Townhome
    Property size:
    1,005 SF
    Price / SF:
    $199/SF
    Added:
    Nov 14, 2024
    Days on Market:
    565
    Last Refresh:
    May 20 at 12:26 am

    Property Features for 1294 COOPER ST. C06

    General Information

    Standard status
    Active
    Size
    1,005 SF
    Property subtype
    Condo/Townhome

    Building Details

    Year Built
    1972

    We can help!

    Listing Contact
    Michelle Sholette

    Listing agent Michelle Sholette License #1863337

    Listing office BHHS Fox & Roach-Medford

    Listing date Nov 14, 2024

    Source Exitrealty

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of BHHS Fox & Roach-Medford

    HighLights

    • Completely Rebuilt: Enjoy worry‑free living in this essentially brand new construction.
    • Modern, State‑of‑the‑Art Kitchen: Features new stainless steel appliances with warranties.
    • Stylish, Quality Finishes: New countertops, flooring, and fixtures create a sleek, contemporary look.
    • Energy Efficient Systems: Updated electrical, plumbing, and HVAC systems ensure energy savings.
    • Bright and Airy Open Layout: Ideal for entertaining and comfortable everyday living.
    • New Construction in Established Community: Rare opportunity to own a new home in a desirable location.

    Overview

    This second-floor condo was fully rebuilt from the ground up following a fire three years ago. The unit features new construction, appliances, and finishes. The kitchen includes new stainless steel appliances with manufacturer's warranties. Quality finishes are present throughout, including countertops, flooring, and fixtures. The open-concept living space is designed for entertaining and everyday living. Updated electrical, plumbing, and HVAC systems contribute to energy savings and comfort.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $25.3k $25.20
    − Vacancy −$1.4k −$1.39
    EGI $23.9k $23.81
    − OpEx −$10.8k −$10.72
    NOI $13.2k $13.10
    1,005 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $188.0K
    $164.5K – $219.4K (±1% cap)
    NOI $13,163 @ 7.0% cap · market cap 6.58%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Warehouse
    $2.10M
    $1.84M – $2.45M (±1% cap)
    NOI $147,136 @ 7.0% cap · market cap 73.57%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Residential income properties

    Map

    City
    Edgewater Park
    County
    Burlington
    State
    New Jersey
    Longitude
    -74.9181
    Latitude
    40.0506

    FAQs

    What type of property is this?
    Residential income property - Modern condo with new appliances and stylish finishes.
    Where is this residential income property located?
    The property is located at 1294 COOPER ST. C06 Edgewater Park, NJ.
    What is the asking price?
    The asking price for this property is $200,000.
    What are key features of this property?
    This property features: Completely Rebuilt: Enjoy worry‑free living in this essentially brand new construction.; Modern, State‑of‑the‑Art Kitchen: Features new stainless steel appliances with warranties.; Stylish, Quality Finishes: New countertops, flooring, and fixtures create a sleek, contemporary look.
    (856) 333-3444
    We can help!
    Listing Contact
    Michelle Sholette
    Real Estate License ID: 1863337
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    1294 COOPER ST. C06, EDGEWATER PARK, NJ 08010
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