Ground-Floor Residential Income
New
For Sale
$350,000
1712 COUNTRY MILL DRIVE, East Windsor, NJ 08512
End-unit condo with a remodeled kitchen, private patio, and access to extensive community amenities.
Property Size1,422 SF
Price / SF$246.13
Days on Market5
Property Features for 1712 COUNTRY MILL DRIVE
General Information
Standard status
Active
Size
1,422 SF
Property subtype
Apartment
Units
Unit Mix
1 x 3BR/2BA
Multifamily Units
1
Amenities
pool
tennis courts
pickleball courts
playgrounds
clubhouse
common laundry facility
Building Details
Year Built
1980
Listing Agency:
Keller Williams Realty West Monmouth
(732) 536-9010
Listed By:
Michael Greco · License #1436054
(848) 299-7613
Source:
Cummingsrealtors
Added: Sep 17
Changed: Sep 20
Last Checked: Sep 20 at 8:46AM
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 Realty West Monmouth
Investment Insights
Based on property information with market context.
This ground-floor end-unit condo, built in 1980, offers a three-bedroom, two-bath layout with a foyer, formal dining room, living room, and private patio. The remodeled galley kitchen includes granite countertops, ceramic tile flooring, stainless steel appliances, and a Miele range. Hardwood floors and ceiling fans extend through the living areas and bedrooms. The primary suite features a large closet, a walk-in closet with washer hookup, and a private bath with a walk-in shower. A common laundry facility is located on the same floor.
A new furnace and A/C system were installed in October 2023. The community has updated its entrance steps and parking lot, with ample parking available. Residents have access to an in-ground pool, tennis and pickleball courts, playgrounds, and a clubhouse. The property is near shopping, parks, and major commuting routes in East Windsor, New Jersey.
A new furnace and A/C system were installed in October 2023. The community has updated its entrance steps and parking lot, with ample parking available. Residents have access to an in-ground pool, tennis and pickleball courts, playgrounds, and a clubhouse. The property is near shopping, parks, and major commuting routes in East Windsor, New Jersey.
Key Highlights
- Three‑bedroom, two‑bath end‑unit condo with ground‑floor living
- Remodeled galley kitchen with granite counters, ceramic tile, stainless appliances, and Miele range
- Private patio opens from the living room
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
$21,703
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
6.20%
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%
$434,060
$434.1K
Cap Rate 7%
$310,043
$310.0K
Cap Rate 9%
$241,144
$241.1K
Market Conditions
NOI Build-Up for 1,422 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
$42.7K $30.00/SF
− Vacancy
−$3.2K −$2.25/SF
EGI
$39.5K $27.75/SF
− OpEx
−$17.8K −$12.49/SF
NOI
$21.7K $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%
$434,060
Cap Rate 7%
$310,043
Cap Rate 9%
$241,144
Alternative Uses
Best Use
Apartment 5plus
$310.0K
$271.3K – $361.7K
NOI $21,703 @ 7.0% cap · market cap 6.20%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$457.5K
$400.3K – $533.8K
NOI $32,026 @ 7.0% cap · market cap 9.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
251
Businesses Nearby
Explore this area
Business Placement
Demographics for 08512, NJ
12,897
Population
5,237
Households
2.5
Avg Household Size
43
Median Age
55%
College-Educated
94%
High-School Grad
22.8 sq mi
ZIP Area
566
Density / Sq Mi
$115,255
Median Household Income
$65,587
Median Earnings
$1,584
Median Rent
$618,300
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - End-unit condo with a remodeled kitchen, private patio, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 1712 COUNTRY MILL DRIVE East Windsor, NJ.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Three‑bedroom, two‑bath end‑unit condo with ground‑floor living; Remodeled galley kitchen with granite counters, ceramic tile, stainless appliances, and Miele range; Private patio opens from the living room
