First-Floor Condo with Private
For Sale
$149,900
18 DOVER COURT, Clementon, NJ 08021
Maintenance-free HOA living with two bedrooms, a private fully fenced backyard, patio, and direct sliding-door access from the living room.
Property Size828 SF
Days on Market57
Property Features for 18 DOVER COURT
General Information
Standard status
Active
Size
828 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Highway Access
Yes
Amenities
community pools
Building Details
Building Size
828 SF
Year Built
1972
Listing Agency:
BHHS Fox & Roach-Washington-Gloucester
Listed By:
Darlene Fiore · License #0343258
(856) 625-7959
Source:
Brucerealty
Added: Jul 20
Changed: Sep 9
Last Checked: Sep 14 at 9:41AM
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 BHHS Fox & Roach-Washington-Gloucester
Investment Insights
Based on property information with market context.
This first-floor condo offers comfortable one-floor living with two bedrooms, one full bath, and a separate laundry room. The living area features an open layout with the kitchen opened to the living room and a convenient breakfast bar. A private fully fenced backyard adds outdoor space with a patio, a storage shed, and sliding door access from the living room.
Interior updates include fresh paint, raised-panel interior doors, and new flooring with wood-look ceramic tile throughout the kitchen, hallway, bathroom, and laundry room. Built in 1972, the home is set up for low-maintenance living through an HOA that covers exterior maintenance, roof, siding, lawn care, snow removal, trash collection, and access to two community pools.
Conveniently located near shopping, restaurants, and major highways, the home supports an easy daily routine for residents looking for a simpler alternative to renting.
Interior updates include fresh paint, raised-panel interior doors, and new flooring with wood-look ceramic tile throughout the kitchen, hallway, bathroom, and laundry room. Built in 1972, the home is set up for low-maintenance living through an HOA that covers exterior maintenance, roof, siding, lawn care, snow removal, trash collection, and access to two community pools.
Conveniently located near shopping, restaurants, and major highways, the home supports an easy daily routine for residents looking for a simpler alternative to renting.
Key Highlights
- Two‑bedroom, one‑bath first‑floor condo with separate laundry room
- Kitchen opened to the living room with breakfast bar
- Private fully fenced backyard with patio, storage shed, and sliding‑door access
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
$8,409
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
5.61%
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%
$168,180
$168.2K
Cap Rate 7%
$120,129
$120.1K
Cap Rate 9%
$93,433
$93.4K
Market Conditions
NOI Build-Up for 828 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
$16.2K $19.56/SF
− Vacancy
−$907 −$1.10/SF
EGI
$15.3K $18.46/SF
− OpEx
−$6.9K −$8.31/SF
NOI
$8.4K $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%
$168,180
Cap Rate 7%
$120,129
Cap Rate 9%
$93,433
Alternative Uses
Best Use
Apartment 5plus
$120.1K
$105.1K – $140.2K
NOI $8,409 @ 7.0% cap · market cap 5.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$209.9K
$183.7K – $244.9K
NOI $14,696 @ 7.0% cap · market cap 9.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
479
Businesses Nearby
Explore this area
Business Placement
Demographics for 08021, NJ
51,458
Population
22,195
Households
2.3
Avg Household Size
37
Median Age
25%
College-Educated
90%
High-School Grad
13.0 sq mi
ZIP Area
3,958
Density / Sq Mi
$67,439
Median Household Income
$42,864
Median Earnings
$1,288
Median Rent
$192,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Maintenance-free HOA living with two bedrooms, a private fully fenced backyard, patio, and direct sliding-door access from the living room.
Where is this residential income property located?
The property is located at 18 DOVER COURT Clementon, NJ.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: Two‑bedroom, one‑bath first‑floor condo with separate laundry room; Kitchen opened to the living room with breakfast bar; Private fully fenced backyard with patio, storage shed, and sliding‑door access
