Building Details

Building Size 1,008 SF

Year Built 1967

Construction garden-style

Listing Agency: RE/MAX Preferred - Cherry Hill Show Phone

Listed By: Jared D Torres · License #2445918 Show Phone

Source: Patmckennarealtors

Added: Aug 17 Changed: Aug 22 Last Checked: Aug 22 at 10:24AM

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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 RE/MAX Preferred - Cherry Hill

Investment Insights

Based on property information with market context.

This residential income property is a two-bedroom, one-bathroom unit within a garden-style building constructed in 1967. The community includes an outdoor pool, shared grounds, and reserved parking. Association services cover water, gas, heat, and lawn maintenance, providing a defined set of ongoing property services for residents.

The property is located at 201 Cuthbert Boulevard, Unit D60, in Haddon Township, New Jersey. Nearby context includes local parks, schools, public services, shopping, and dining. The combination of a practical unit layout and established community amenities supports residential use within a maintained multifamily setting.

Key Highlights

• Two‑bedroom, one‑bathroom unit
• Garden‑style building constructed in 1967
• Outdoor pool and shared community grounds

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

$10,237

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

5.39%

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%

$204,740 $204.7K

Cap Rate 7%

$146,243 $146.2K

Cap Rate 9%

$113,744 $113.7K

Market Conditions

NOI Build-Up for 1,008 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

$19.7K $19.56/SF

− Vacancy

−$1.1K −$1.10/SF

EGI

$18.6K $18.46/SF

− OpEx

−$8.4K −$8.31/SF

NOI

$10.2K $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%

$204,740

Cap Rate 7%

$146,243

Cap Rate 9%

$113,744

Alternative Uses

Best Use

Apartment 5plus

$146.2K

$128.0K – $170.6K (±1% cap)

NOI $10,237 @ 7.0% cap · market cap 5.39%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$255.6K

$223.6K – $298.2K (±1% cap)

NOI $17,891 @ 7.0% cap · market cap 9.42%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Sandone Realty Co Real Estate Agency Heather House Condominium ... Condominium Complex

Suggested Use

Top Pick Real Estate Agency Restaurant Big Box & Wholesale Store Auto Repair Shop Auto Parts Store Building Supply

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Residential units

Location Intelligence

Trade Area within ½ mile

552

Businesses Nearby

Explore this area Business Placement

Demographics for 08108, NJ

18,618

Population

9,173

Households

2

Avg Household Size

40

Median Age

58%

College-Educated

97%

High-School Grad

2.7 sq mi

ZIP Area

6,896

Density / Sq Mi

$107,764

Median Household Income

$70,887

Median Earnings

$1,680

Median Rent

$358,100

Median Home Value

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Residential income property - Garden-style community with an outdoor pool, reserved parking, and association-provided utilities and lawn care.

Where is this residential income property located?

The property is located at 201 CUTHBERT BOULEVARD Unit D60 Haddon Twp, NJ.

What is the asking price?

The asking price for this property is $189,900.

What are key features of this property?

This property features: Two‑bedroom, one‑bathroom unit; Garden‑style building constructed in 1967; Outdoor pool and shared community grounds