Garden-Style Residential Income
New
For Sale
$300,000
1403 STEEPLEBUSH TERRACE, Mount Laurel, NJ 08054
The two-bedroom, two-bath residence is part of a community with a pool, clubhouse, community center, and tennis courts.
Property Size1,220 SF
Days on Market3
Property Features for 1403 STEEPLEBUSH TERRACE
General Information
Standard status
Active
Size
1,220 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,254
Amenities
outdoor pool
community center
clubhouse
tennis courts
Building Details
Building Size
1,220 SF
Year Built
1989
Construction
garden-style
Listing Agency:
Better Homes and Gardens Real Estate Realty Connect
Listed By:
Catherine Hartman · License #673471
(856) 630-4750
Source:
Patmckennarealtors
Added: Oct 17
Changed: Oct 19
Last Checked: Oct 19 at 2:12PM
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 Better Homes and Gardens Real Estate Realty Connect
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Investment Insights
Based on property information with market context.
Built in 1989, this garden-style residence has two bedrooms and two bathrooms. Its layout includes a kitchen and living area, with community amenities that include an outdoor pool, clubhouse, community center, and tennis courts.
The homeowners association covers common-area maintenance, exterior building upkeep, lawn care, and snow removal.
The homeowners association covers common-area maintenance, exterior building upkeep, lawn care, and snow removal.
Key Highlights
- Two bedrooms and two bathrooms
- Built in 1989
- Community amenities include an outdoor pool, clubhouse, community center, and tennis courts
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,979
Cap Rate
5.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$319,580
$319.6K
Cap Rate 7%
$228,271
$228.3K
Cap Rate 9%
$177,544
$177.5K
Market Conditions
NOI Build-Up for 1,220 SF
Gross rent
$30.7K $25.20/SF
− Vacancy
−$1.7K −$1.39/SF
EGI
$29.1K $23.81/SF
− OpEx
−$13.1K −$10.72/SF
NOI
$16.0K $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 Rate 5%
$319,580
Cap Rate 7%
$228,271
Cap Rate 9%
$177,544
Alternative Uses
Best Use
Apartment 5plus
$228.3K
$199.7K – $266.3K
NOI $15,979 @ 7.0% cap · market cap 5.33%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.55M
$2.23M – $2.98M
NOI $178,612 @ 7.0% cap · market cap 59.54%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
115
Businesses Nearby
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Business Placement
Demographics for 08054, NJ
44,633
Population
19,966
Households
2.2
Avg Household Size
44
Median Age
56%
College-Educated
96%
High-School Grad
21.7 sq mi
ZIP Area
2,057
Density / Sq Mi
$114,629
Median Household Income
$67,986
Median Earnings
$1,966
Median Rent
$341,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The two-bedroom, two-bath residence is part of a community with a pool, clubhouse, community center, and tennis courts.
Where is this residential income property located?
The property is located at 1403 STEEPLEBUSH TERRACE Mount Laurel, 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: Two bedrooms and two bathrooms; Built in 1989; Community amenities include an outdoor pool, clubhouse, community center, and tennis courts
