Ravenscroft Condo with Dual
For Sale
$285,000
14 PINEWOOD DR DRIVE, Trenton, NJ 08690
Well-maintained 2-bedroom condo in desirable Ravenscroft community near Veterans Park.
Property Size778 SF
Days on Market274
Property Features for 14 PINEWOOD DR DRIVE
General Information
Standard status
Active
Size
778 SF
Property subtype
Apartment
Amenities
Central A/C
Forced Air
Building Details
Building Size
778 SF
Year Built
1986
Listing Agency:
Keller Williams Premier
(609) 558-8228
Listed By:
Maryanne Ziccardi · License #NJ
(609) 558-8228
Source:
Kw
Added: Nov 20, 2025
Changed: Aug 9
Last Checked: Aug 20 at 7:31PM
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 Premier
Investment Insights
Based on property information with market context.
This is a well cared for 2-bedroom, 1-bath second-floor condo located in the Ravenscroft community. The home is situated in the Steinert school district and is located next to Veterans Park, which features walking trails, a lake, community events, and tennis and pickle ball courts. The home features new carpets throughout, and a spacious open-concept living and dining area with a vaulted ceiling. There is both a front and back patio. The kitchen has maple cabinetry and neutral countertops. This unit also includes a full-size washer and dryer. The hot water heater was replaced in 2019. The property is located close to 295, NJ Turnpike, Hamilton Train Station and shopping areas. This condo offers low-maintenance living.
Key Highlights
- Prime Location: Next to Veterans Park with walking trails, lake, events, tennis, and pickleball.
- Move‑In Ready: Freshly painted with brand new carpets.
- Convenient Amenities: Includes full‑size washer and dryer, central A/C, and forced air.
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
$11,874
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
4.17%
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%
$237,480
$237.5K
Cap Rate 7%
$169,629
$169.6K
Cap Rate 9%
$131,933
$131.9K
Market Conditions
NOI Build-Up for 778 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
$23.3K $30.00/SF
− Vacancy
−$1.8K −$2.25/SF
EGI
$21.6K $27.75/SF
− OpEx
−$9.7K −$12.49/SF
NOI
$11.9K $15.26/SF
Area
Mercer County, NJ
Vacancy
7.50%
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%
$237,480
Cap Rate 7%
$169,629
Cap Rate 9%
$131,933
Alternative Uses
Best Use
Apartment 5plus
$169.6K
$148.4K – $197.9K
NOI $11,874 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$250.3K
$219.0K – $292.0K
NOI $17,522 @ 7.0% cap · market cap 6.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
313
Businesses Nearby
Explore this area
Business Placement
Demographics for 08690, NJ
19,470
Population
8,068
Households
2.4
Avg Household Size
47
Median Age
45%
College-Educated
95%
High-School Grad
7.0 sq mi
ZIP Area
2,781
Density / Sq Mi
$122,665
Median Household Income
$65,581
Median Earnings
$1,561
Median Rent
$362,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 2-bedroom condo in desirable Ravenscroft community near Veterans Park.
Where is this apartment building located?
The property is located at 14 PINEWOOD DR DRIVE Trenton, NJ.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Prime Location: Next to Veterans Park with walking trails, lake, events, tennis, and pickleball.; Move‑In Ready: Freshly painted with brand new carpets.; Convenient Amenities: Includes full‑size washer and dryer, central A/C, and forced air.
