Two-Bedroom Condo with Private
New
For Sale
$246,900
1303 TRISTRAM CIRCLE, Mantua, NJ 08051
Ground-floor residence combines single-level access with a fenced outdoor area and community pool and clubhouse.
Property Size1,062 SF
Days on Market3
Property Features for 1303 TRISTRAM CIRCLE
General Information
Standard status
Active
Size
1,062 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,637
Amenities
community pool
club house
private fenced yard
Building Details
Building Size
1,062 SF
Year Built
1988
Listing Agency:
HomeSmart First Advantage Realty
Listed By:
Steve T Salemno
(267) 640-6413
Source:
Patmckennarealtors
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 1:20PM
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 HomeSmart First Advantage Realty
Investment Insights
Based on property information with market context.
This 1988 first-floor condo has two bedrooms and two full bathrooms arranged on one level. The living room opens through sliding doors to a private, vinyl-fenced patio and garden area. Interior features include a wraparound kitchen with granite counters, tile backsplash and Frigidaire stainless-steel appliances, plus an adjoining dining area. The primary suite includes a walk-in closet and private bath with a jetted tub and double sink; a second full bath has a shower stall. A washer and dryer area is also provided. Updates include Lennox HVAC and living-room LVP flooring, both installed in 2020, along with newer windows and a sliding glass door with interior blinds.
Residents have access to a community pool and clubhouse. The condo is near major roads, including routes 45, 295 and 55.
Residents have access to a community pool and clubhouse. The condo is near major roads, including routes 45, 295 and 55.
Key Highlights
- Two bedrooms and two full bathrooms on the first floor
- Private side patio and garden enclosed by vinyl fencing
- Wraparound kitchen with granite countertops and stainless‑steel Frigidaire appliances
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,413
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.03%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$248,260
$248.3K
Cap Rate 7%
$177,329
$177.3K
Cap Rate 9%
$137,922
$137.9K
Market Conditions
NOI Build-Up for 1,062 SF
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.
Gross rent
$24.0K $22.56/SF
− Vacancy
−$1.4K −$1.31/SF
EGI
$22.6K $21.25/SF
− OpEx
−$10.2K −$9.56/SF
NOI
$12.4K $11.69/SF
Area
Gloucester County, NJ
Vacancy
5.80%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$248,260
Cap Rate 7%
$177,329
Cap Rate 9%
$137,922
Alternative Uses
Best Use
Apartment 5plus
$177.3K
$155.2K – $206.9K
NOI $12,413 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$357.0K
$312.4K – $416.5K
NOI $24,989 @ 7.0% cap · market cap 10.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
226
Businesses Nearby
Explore this area
Business Placement
Demographics for 08051, NJ
10,644
Population
4,602
Households
2.3
Avg Household Size
43
Median Age
36%
College-Educated
98%
High-School Grad
3.8 sq mi
ZIP Area
2,801
Density / Sq Mi
$97,452
Median Household Income
$57,900
Median Earnings
$1,691
Median Rent
$249,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Ground-floor residence combines single-level access with a fenced outdoor area and community pool and clubhouse.
Where is this residential income property located?
The property is located at 1303 TRISTRAM CIRCLE Mantua, NJ.
What is the asking price?
The asking price for this property is $246,900.
What are key features of this property?
This property features: Two bedrooms and two full bathrooms on the first floor; Private side patio and garden enclosed by vinyl fencing; Wraparound kitchen with granite countertops and stainless‑steel Frigidaire appliances
