End-Unit Residential Income
For Sale
$259,000
186-B COLLIN COURT, Mount Laurel, NJ 08054
Two-bedroom condominium with updated systems, private outdoor space, and convenient access to regional roads and daily amenities.
Property Size984 SF
Price / SF$263.21
Days on Market19
Property Features for 186-B COLLIN COURT
General Information
Standard status
Active
Size
984 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,163
Building Details
Building Size
984 SF
Year Built
1985
Listing Agency:
EXP Realty, LLC
(609) 313-8518
Listed By:
Ines De La Cruz · License #9909296
(609) 313-8518
Source:
Patmckennarealtors
Added: Jul 22
Changed: Aug 8
Last Checked: Aug 8 at 9:38AM
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.
This 984-square-foot end-unit condominium, built in 1985, offers two bedrooms and one full bathroom in the Le Club community. The interior includes a living room adjoining the dining area, a kitchen with a pass-through, gas range, dishwasher, garbage disposal, and brand-new refrigerator. The primary bedroom has direct bathroom access, a walk-in closet, and attic access, while the second bedroom has a nearby closet and bathroom. Recent improvements include new carpeting, a newly redone deck, and a gas water heater installed six months ago. The property also provides exterior storage beside the deck, gas heat, gas hot water, and a chair lift with a new battery installed in September 2025.
Access to Routes 38 and I-295 places the property near Mt. Laurel Hartford School, shopping, restaurants, parks, and other everyday services. The association permits up to 2 pets. A 1-year home warranty is included, and the furnace was serviced in February 2026; the fireplace was professionally cleaned in March 2026.
Access to Routes 38 and I-295 places the property near Mt. Laurel Hartford School, shopping, restaurants, parks, and other everyday services. The association permits up to 2 pets. A 1-year home warranty is included, and the furnace was serviced in February 2026; the fireplace was professionally cleaned in March 2026.
Key Highlights
- 984‑square‑foot end‑unit condominium in the Le Club community
- Two bedrooms and 1 full bathroom with living and dining areas
- Brand‑new refrigerator, gas stove, dishwasher, and garbage disposal
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
$12,888
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
4.98%
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%
$257,760
$257.8K
Cap Rate 7%
$184,114
$184.1K
Cap Rate 9%
$143,200
$143.2K
Market Conditions
NOI Build-Up for 984 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
$24.8K $25.20/SF
− Vacancy
−$1.4K −$1.39/SF
EGI
$23.4K $23.81/SF
− OpEx
−$10.5K −$10.72/SF
NOI
$12.9K $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%
$257,760
Cap Rate 7%
$184,114
Cap Rate 9%
$143,200
Alternative Uses
Best Use
Apartment 5plus
$184.1K
$161.1K – $214.8K
NOI $12,888 @ 7.0% cap · market cap 4.98%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.06M
$1.80M – $2.40M
NOI $144,061 @ 7.0% cap · market cap 55.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
71
Businesses Nearby
Explore this area
Business Placement
Demographics for 08054, NJ
44,633
Population
19,966
Households
2.2
Avg Household Size
44
Median Age
56%
College-Educated
96%
High-School Grad
21.7 sq mi
ZIP Area
2,057
Density / Sq Mi
$114,629
Median Household Income
$67,986
Median Earnings
$1,966
Median Rent
$341,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium with updated systems, private outdoor space, and convenient access to regional roads and daily amenities.
Where is this residential income property located?
The property is located at 186-B COLLIN COURT Mount Laurel, NJ.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: 984‑square‑foot end‑unit condominium in the Le Club community; Two bedrooms and 1 full bathroom with living and dining areas; Brand‑new refrigerator, gas stove, dishwasher, and garbage disposal
