Multi-Unit Residential Income
For Sale
$1,300,000
15 Hummingbird Way, Jackson, NJ 08527
Residentially zoned property with multiple units and partially finished interior space in Jackson, New Jersey.
Property Size5,252 SF
Days on Market154
Property Features for 15 Hummingbird Way
General Information
Standard status
Active
Size
5,252 SF
Property subtype
Residential Income
Zoning
Residential
Taxes and HOA fees
Annual Taxes
$21,113
Amenities
Multi Units, Other
Partially Finished
Assigned, Detached
Building Details
Building Size
5,252 SF
Year Built
1924
Stories
2
Listing Agency:
Jamie Pavlis Real Estate, Inc.
(732) 542-2223
Listed By:
Deborah Pavlis
(732) 542-2223
Source:
Evrealestate
Added: Mar 30
Changed: Aug 29
Last Checked: Aug 30 at 1:33PM
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 Jamie Pavlis Real Estate, Inc.
Investment Insights
Based on property information with market context.
This residential income property contains multiple units and includes partially finished interior space. The improvements date to 1924, providing an established residential asset within the property’s existing configuration.
Located at 15 Hummingbird Way in Jackson, New Jersey, the property is in Ocean County. Access is via E. Veterans Highway to Hummingbird Way, and the site carries Residential zoning.
Located at 15 Hummingbird Way in Jackson, New Jersey, the property is in Ocean County. Access is via E. Veterans Highway to Hummingbird Way, and the site carries Residential zoning.
Key Highlights
- Multiple‑unit residential income property
- Partially finished interior space
- Built in 1924
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
$53,337
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
4.10%
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%
$1,066,740
$1.1M
Cap Rate 7%
$761,957
$762.0K
Cap Rate 9%
$592,633
$592.6K
Market Conditions
NOI Build-Up for 5,252 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
$102.7K $19.56/SF
− Vacancy
−$5.8K −$1.10/SF
EGI
$97.0K $18.46/SF
− OpEx
−$43.6K −$8.31/SF
NOI
$53.3K $10.16/SF
Area
Camden County, NJ
Vacancy
5.60%
Lease Rate
$19.56 /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%
$1,066,740
Cap Rate 7%
$761,957
Cap Rate 9%
$592,633
Alternative Uses
Best Use
Apartment 5plus
$762.0K
$666.7K – $889.0K
NOI $53,337 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.33M
$1.17M – $1.55M
NOI $93,217 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
118
Businesses Nearby
Explore this area
Business Placement
Demographics for 08527, NJ
57,925
Population
21,755
Households
2.7
Avg Household Size
41
Median Age
39%
College-Educated
94%
High-School Grad
85.4 sq mi
ZIP Area
678
Density / Sq Mi
$109,059
Median Household Income
$55,349
Median Earnings
$1,693
Median Rent
$460,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Residentially zoned property with multiple units and partially finished interior space in Jackson, New Jersey.
Where is this residential income property located?
The property is located at 15 Hummingbird Way Jackson, NJ.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Multiple‑unit residential income property; Partially finished interior space; Built in 1924
