Two-Bedroom Residential Income
For Sale
$249,900
Pending
18 CRESTMONT DRIVE, Mantua, NJ 08051
Second-floor condo with a private balcony, in-unit laundry, and a primary bedroom with its own full bath.
Property Size1,051 SF
Days on Market12
Property Features for 18 CRESTMONT DRIVE
General Information
Standard status
Pending
Size
1,051 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,050
Amenities
private balcony
in-unit laundry
Building Details
Building Size
1,051 SF
Year Built
1992
Listing Agency:
Ovation Realty LLC
Listed By:
Robert L Krupa · License #1111900
(215) 989-3946
Source:
Patmckennarealtors
Added: Sep 12
Changed: Sep 20
Last Checked: Sep 22 at 11:09PM
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 Ovation Realty LLC
Investment Insights
Based on property information with market context.
This second-floor condominium at 18 Crestmont Drive offers a two-bedroom, two-bath layout with a bright living area and a private balcony. The primary bedroom includes a full private bath and generous closet space, while the additional bedroom can accommodate guests, office use, or other living needs. In-unit laundry adds practical convenience.
Built in 1992, the property is located in the Royal Oaks community of Mantua Township, near shopping, dining, and major highways. The surrounding area provides access to Gloucester County amenities while supporting a lower-maintenance condominium lifestyle.
Built in 1992, the property is located in the Royal Oaks community of Mantua Township, near shopping, dining, and major highways. The surrounding area provides access to Gloucester County amenities while supporting a lower-maintenance condominium lifestyle.
Key Highlights
- Two‑bedroom, two‑bath condominium
- Second‑floor location in the Royal Oaks community
- Private balcony connected to the living area
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
$12,284
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
4.92%
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%
$245,680
$245.7K
Cap Rate 7%
$175,486
$175.5K
Cap Rate 9%
$136,489
$136.5K
Market Conditions
NOI Build-Up for 1,051 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
$23.7K $22.56/SF
− Vacancy
−$1.4K −$1.31/SF
EGI
$22.3K $21.25/SF
− OpEx
−$10.1K −$9.56/SF
NOI
$12.3K $11.69/SF
Area
Gloucester County, NJ
Vacancy
5.80%
Lease Rate
$22.56 /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%
$245,680
Cap Rate 7%
$175,486
Cap Rate 9%
$136,489
Alternative Uses
Best Use
Apartment 5plus
$175.5K
$153.6K – $204.7K
NOI $12,284 @ 7.0% cap · market cap 4.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$353.3K
$309.1K – $412.2K
NOI $24,730 @ 7.0% cap · market cap 9.90%
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
52
Businesses Nearby
Explore this area
Business Placement
Demographics for 08051, NJ
10,644
Population
4,602
Households
2.3
Avg Household Size
43
Median Age
36%
College-Educated
98%
High-School Grad
3.8 sq mi
ZIP Area
2,801
Density / Sq Mi
$97,452
Median Household Income
$57,900
Median Earnings
$1,691
Median Rent
$249,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Second-floor condo with a private balcony, in-unit laundry, and a primary bedroom with its own full bath.
Where is this residential income property located?
The property is located at 18 CRESTMONT DRIVE Mantua, NJ.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two‑bedroom, two‑bath condominium; Second‑floor location in the Royal Oaks community; Private balcony connected to the living area
