Remodeled Condo with Community
For Sale
$249,000
16 E DAISY LANE, Mount Laurel, NJ 08054
Updated condominium with access to a community pool, tennis courts, lakes, and walking paths.
Property Size946 SF
Days on Market17
Property Features for 16 E DAISY LANE
General Information
Standard status
Active
Size
946 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,545
Amenities
community pool
tennis courts
lakes
walking paths
Building Details
Building Size
946 SF
Year Built
1975
Listing Agency:
Realmart Realty, LLC
Listed By:
Qizhan Jack Yao · License #0902217
(732) 727-2280
Source:
Patmckennarealtors
Added: Aug 26
Changed: Sep 9
Last Checked: Sep 10 at 8:07AM
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 Realmart Realty, LLC
Investment Insights
Based on property information with market context.
This condominium was built in 1975 and has undergone a full remodel, bringing updated finishes and refreshed interior spaces to the residence. The property is presented as a move-in-ready home within a residential community.
Community amenities include a pool, tennis courts, lakes, and walking paths. These shared features provide options for recreation and outdoor use within the community. The condominium is located in Mount Laurel, New Jersey.
Community amenities include a pool, tennis courts, lakes, and walking paths. These shared features provide options for recreation and outdoor use within the community. The condominium is located in Mount Laurel, New Jersey.
Key Highlights
- Fully remodeled condominium
- Built in 1975
- Community pool and tennis courts
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
$12,390
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
4.98%
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%
$247,800
$247.8K
Cap Rate 7%
$177,000
$177.0K
Cap Rate 9%
$137,667
$137.7K
Market Conditions
NOI Build-Up for 946 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
$23.8K $25.20/SF
− Vacancy
−$1.3K −$1.39/SF
EGI
$22.5K $23.81/SF
− OpEx
−$10.1K −$10.72/SF
NOI
$12.4K $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%
$247,800
Cap Rate 7%
$177,000
Cap Rate 9%
$137,667
Alternative Uses
Best Use
Apartment 5plus
$177.0K
$154.9K – $206.5K
NOI $12,390 @ 7.0% cap · market cap 4.98%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.98M
$1.73M – $2.31M
NOI $138,498 @ 7.0% cap · market cap 55.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
212
Businesses Nearby
Explore this area
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condominium with access to a community pool, tennis courts, lakes, and walking paths.
Where is this residential income property located?
The property is located at 16 E DAISY LANE Mount Laurel, NJ.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Fully remodeled condominium; Built in 1975; Community pool and tennis courts
