Refreshed Residential Income
New
For Sale
$279,900
177 WILDFLOWER PLACE, Delran, NJ 08075
Updated condo with refreshed interiors, newer HVAC, and a replacement deck in the Summerhill community.
Property Size1,270 SF
Days on Market6
Property Features for 177 WILDFLOWER PLACE
General Information
Standard status
Active
Size
1,270 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,010
Building Details
Building Size
1,270 SF
Year Built
1997
Listing Agency:
EXP Realty, LLC
Listed By:
Mark J McKenna · License #8932774
(856) 983-0704
Source:
Patmckennarealtors
Added: Sep 17
Changed: Sep 22
Last Checked: Sep 21 at 6:36AM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1997, this two-bedroom, two-and-a-half-bath condominium offers a refreshed interior and practical two-level living. Recent improvements include fresh interior paint, new flooring, a new HVAC system, and a remodeled half bath. The deck was replaced last year, adding usable outdoor space, while the kitchen includes appliances approximately four years old.
Located at 177 Wildflower Place in Delran, the property is part of the Summerhill community. The combination of updated finishes, recent mechanical improvements, and outdoor space provides a clearly defined residential income asset with an established condominium layout.
Located at 177 Wildflower Place in Delran, the property is part of the Summerhill community. The combination of updated finishes, recent mechanical improvements, and outdoor space provides a clearly defined residential income asset with an established condominium layout.
Key Highlights
- Two‑bedroom, 2.5‑bath condominium
- Fresh interior paint and new flooring
- New HVAC system
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
$16,634
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
5.94%
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%
$332,680
$332.7K
Cap Rate 7%
$237,629
$237.6K
Cap Rate 9%
$184,822
$184.8K
Market Conditions
NOI Build-Up for 1,270 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
$32.0K $25.20/SF
− Vacancy
−$1.8K −$1.39/SF
EGI
$30.2K $23.81/SF
− OpEx
−$13.6K −$10.72/SF
NOI
$16.6K $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%
$332,680
Cap Rate 7%
$237,629
Cap Rate 9%
$184,822
Alternative Uses
Best Use
Apartment 5plus
$237.6K
$207.9K – $277.2K
NOI $16,634 @ 7.0% cap · market cap 5.94%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.66M
$2.32M – $3.10M
NOI $185,933 @ 7.0% cap · market cap 66.43%
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
77
Businesses Nearby
Explore this area
Business Placement
Demographics for 08075, NJ
30,327
Population
12,092
Households
2.5
Avg Household Size
39
Median Age
38%
College-Educated
92%
High-School Grad
9.9 sq mi
ZIP Area
3,063
Density / Sq Mi
$94,576
Median Household Income
$47,979
Median Earnings
$1,427
Median Rent
$288,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condo with refreshed interiors, newer HVAC, and a replacement deck in the Summerhill community.
Where is this residential income property located?
The property is located at 177 WILDFLOWER PLACE Delran, NJ.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: Two‑bedroom, 2.5‑bath condominium; Fresh interior paint and new flooring; New HVAC system
