Updated Residential Income
For Sale
$229,000
Pending
1605 WOODHOLLOW DRIVE, Marlton, NJ 08053
First-floor condominium with two bedrooms, two full bathrooms, private balcony, and reserved parking.
Property Size940 SF
Days on Market12
Property Features for 1605 WOODHOLLOW DRIVE
General Information
Standard status
Pending
Size
940 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,057
Amenities
private balcony
in-unit laundry
smart thermostat
smart recessed lighting
community tennis court
Building Details
Building Size
940 SF
Year Built
1982
Listing Agency:
Epique Realty
(856) 912-4192
Listed By:
Amy Rossano · License #1862111
(856) 912-4192
Source:
Patmckennarealtors
Added: Aug 12
Changed: Aug 21
Last Checked: Aug 20 at 11:45AM
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 Epique Realty
Investment Insights
Based on property information with market context.
This residential income property is a first-floor condominium built in 1982 with two bedrooms and two full bathrooms. The interior includes laminate flooring, a galley kitchen with gas cooking and substantial cabinet storage, an in-unit laundry area, and a living room connected to a private balcony by sliding glass doors. The primary suite offers ample closet space and an updated en-suite bathroom, while the second bedroom is accompanied by a full hall bathroom. A smart thermostat and smart recessed lighting are installed in both bedrooms, and the HVAC system is approximately 2 years old.
The property is located in The Hollows community in Marlton, New Jersey. Community amenities include a tennis court and maintained grounds. Shopping, restaurants, major highways, Philadelphia, and the Jersey Shore are described as minutes away. One reserved parking space is included.
The property is located in The Hollows community in Marlton, New Jersey. Community amenities include a tennis court and maintained grounds. Shopping, restaurants, major highways, Philadelphia, and the Jersey Shore are described as minutes away. One reserved parking space is included.
Key Highlights
- First‑floor condominium with 2 bedrooms and 2 full bathrooms
- Private balcony accessed through sliding glass doors
- Updated en‑suite bathroom in the primary bedroom
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
$9,546
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%
$190,920
$190.9K
Cap Rate 7%
$136,371
$136.4K
Cap Rate 9%
$106,067
$106.1K
Market Conditions
NOI Build-Up for 940 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
$18.4K $19.56/SF
− Vacancy
−$1.0K −$1.10/SF
EGI
$17.4K $18.46/SF
− OpEx
−$7.8K −$8.31/SF
NOI
$9.5K $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%
$190,920
Cap Rate 7%
$136,371
Cap Rate 9%
$106,067
Alternative Uses
Best Use
Apartment 5plus
$136.4K
$119.3K – $159.1K
NOI $9,546 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$238.3K
$208.6K – $278.1K
NOI $16,684 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
82
Businesses Nearby
Explore this area
Business Placement
Demographics for 08053, NJ
46,826
Population
20,090
Households
2.3
Avg Household Size
43
Median Age
53%
College-Educated
98%
High-School Grad
29.2 sq mi
ZIP Area
1,604
Density / Sq Mi
$116,745
Median Household Income
$67,439
Median Earnings
$1,939
Median Rent
$368,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - First-floor condominium with two bedrooms, two full bathrooms, private balcony, and reserved parking.
Where is this residential income property located?
The property is located at 1605 WOODHOLLOW DRIVE Marlton, NJ.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: First‑floor condominium with 2 bedrooms and 2 full bathrooms; Private balcony accessed through sliding glass doors; Updated en‑suite bathroom in the primary bedroom
