Updated Residential Income
New
For Sale
$300,000
137 TAVISTOCK, Cherry Hill, NJ 08034
Second-story condominium with two outdoor areas and community amenities including a pool, sports courts, and gym.
Property Size1,101 SF
Price / SF$272.48
Days on Market7
Property Features for 137 TAVISTOCK
General Information
Standard status
Active
Size
1,101 SF
Property subtype
Apartment
Amenities
pool
sports courts
gym
landscaping
leaf & snow removal
Building Details
Year Built
1987
Listing Agency:
Keller Williams Realty - Moorestown
(609) 304-4202
Listed By:
David Andrew Burris · License #RS368938
(609) 304-4202
Source:
Cummingsrealtors
Added: Aug 5
Changed: Aug 11
Last Checked: Aug 11 at 6:52AM
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 Keller Williams Realty - Moorestown
Investment Insights
Based on property information with market context.
This second-story condominium in the Tavistock Development includes updates throughout and two separate outdoor areas: an upper-level sun deck and a covered lower-level porch. Community amenities include a pool, sports courts, gym, landscaping, and seasonal leaf and snow removal. The property was built in 1987.
The home is near I-295 and the New Jersey Turnpike, with Haddonfield-Berlin Road, Kresson Road, and Brace Road nearby. Downtown Haddonfield, local shopping, and area attractions are minutes away.
The home is near I-295 and the New Jersey Turnpike, with Haddonfield-Berlin Road, Kresson Road, and Brace Road nearby. Downtown Haddonfield, local shopping, and area attractions are minutes away.
Key Highlights
- Updated second‑story condominium in Tavistock Development
- Two outdoor spaces: an upper‑level sun deck and covered lower‑level porch
- Community pool, sports courts, and gym
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
$16,931
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
5.64%
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%
$338,620
$338.6K
Cap Rate 7%
$241,871
$241.9K
Cap Rate 9%
$188,122
$188.1K
Market Conditions
NOI Build-Up for 1,101 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
$33.0K $30.00/SF
− Vacancy
−$2.2K −$2.04/SF
EGI
$30.8K $27.96/SF
− OpEx
−$13.9K −$12.58/SF
NOI
$16.9K $15.38/SF
Area
Bergen County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /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%
$338,620
Cap Rate 7%
$241,871
Cap Rate 9%
$188,122
Alternative Uses
Best Use
Apartment 5plus
$241.9K
$211.6K – $282.2K
NOI $16,931 @ 7.0% cap · market cap 5.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$287.5K
$251.6K – $335.4K
NOI $20,125 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,320
Businesses Nearby
Explore this area
Business Placement
Demographics for 08034, NJ
19,256
Population
8,108
Households
2.4
Avg Household Size
42
Median Age
53%
College-Educated
94%
High-School Grad
5.9 sq mi
ZIP Area
3,264
Density / Sq Mi
$111,244
Median Household Income
$56,792
Median Earnings
$1,707
Median Rent
$335,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Second-story condominium with two outdoor areas and community amenities including a pool, sports courts, and gym.
Where is this residential income property located?
The property is located at 137 TAVISTOCK Cherry Hill, NJ.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Updated second‑story condominium in Tavistock Development; Two outdoor spaces: an upper‑level sun deck and covered lower‑level porch; Community pool, sports courts, and gym
