Two-Bedroom Residential Income
For Sale
$309,000
133 CHALKBOARD COURT, Moorestown, NJ 08057
Second-floor condominium with flexible living space, private outdoor access, and an attached two-bath layout.
Property Size1,132 SF
Days on Market24
Property Features for 133 CHALKBOARD COURT
General Information
Standard status
Active
Size
1,132 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,265
Amenities
gas fireplace
skylights
deck
stainless steel appliances
laundry area
Building Details
Building Size
1,132 SF
Year Built
1991
Listing Agency:
EXP Realty, LLC
(609) 410-1010
Listed By:
Ian J Rossman · License #678326
(609) 410-1010
Source:
Patmckennarealtors
Added: Aug 8
Changed: Aug 31
Last Checked: Aug 30 at 11:04PM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This second-floor condominium in School House Mews offers a two-bedroom, two-bath configuration with an open interior arrangement. The main living area includes high ceilings, a gas fireplace, palladium-style window, skylights, and a sliding door to a deck overlooking trees. The kitchen is equipped with stainless steel appliances, including a dishwasher, and connects directly with the dining and family room areas.
The larger bedroom includes its own full bath, while the second bedroom is served by a full hall bathroom. A laundry area completes the unit. The property was built in 1991 and is located near shopping, dining, Moorestown’s downtown district, and routes serving points north and south.
The larger bedroom includes its own full bath, while the second bedroom is served by a full hall bathroom. A laundry area completes the unit. The property was built in 1991 and is located near shopping, dining, Moorestown’s downtown district, and routes serving points north and south.
Key Highlights
- Two‑bedroom, two‑bath second‑floor condominium
- School House Mews community
- Deck overlooking trees with sliding‑door access
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
$14,827
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
4.80%
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%
$296,540
$296.5K
Cap Rate 7%
$211,814
$211.8K
Cap Rate 9%
$164,744
$164.7K
Market Conditions
NOI Build-Up for 1,132 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
$28.5K $25.20/SF
− Vacancy
−$1.6K −$1.39/SF
EGI
$27.0K $23.81/SF
− OpEx
−$12.1K −$10.72/SF
NOI
$14.8K $13.10/SF
Area
Burlington County, NJ
Vacancy
5.50%
Lease Rate
$25.20 /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%
$296,540
Cap Rate 7%
$211,814
Cap Rate 9%
$164,744
Alternative Uses
Best Use
Apartment 5plus
$211.8K
$185.3K – $247.1K
NOI $14,827 @ 7.0% cap · market cap 4.80%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.37M
$2.07M – $2.76M
NOI $165,729 @ 7.0% cap · market cap 53.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
280
Businesses Nearby
Explore this area
Business Placement
Demographics for 08057, NJ
21,691
Population
8,382
Households
2.6
Avg Household Size
44
Median Age
67%
College-Educated
96%
High-School Grad
15.3 sq mi
ZIP Area
1,418
Density / Sq Mi
$152,290
Median Household Income
$72,500
Median Earnings
$1,485
Median Rent
$626,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Second-floor condominium with flexible living space, private outdoor access, and an attached two-bath layout.
Where is this residential income property located?
The property is located at 133 CHALKBOARD COURT Moorestown, NJ.
What is the asking price?
The asking price for this property is $309,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath second‑floor condominium; School House Mews community; Deck overlooking trees with sliding‑door access
