Renovated Two-Unit
For Sale
$505,000
Pending
215 Conard Avenue, Collingswood, NJ 08108
Two separate living units include a renovated upper apartment and an occupied lower apartment.
Property Size1,520 SF
Days on Market157
Property Features for 215 Conard Avenue
General Information
Standard status
Pending
Size
1,520 SF
Total Parking Spaces
2
Property subtype
Multi-Family / Fee Simple
Zoning
MUTI-UNIT
Taxes and HOA fees
Annual Taxes
$10,458
Amenities
No
No Pool
Above Grade, Below Grade
Building Details
Year Built
1942
Listing Agency:
Coldwell Banker Realty
(856) 685-5627
Listed By:
John D Kennedy · License #9032563
(856) 685-5627
Source:
Compass
Added: Mar 27
Changed: Aug 29
Last Checked: Aug 29 at 8:01PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This duplex at 215 Conard Avenue contains two separate apartments within 1,520 square feet. The upper residence includes three bedrooms and has been updated with a new kitchen and renovated bathroom. The lower apartment offers one bedroom and is occupied by a long-term tenant, providing an established rental arrangement. The property was built in 1942 and is zoned MUTI-UNIT.
The home sits on large grounds in central Collingswood, near local parks, Main Street shops and restaurants, and the PATCO Speedline. A metro or subway station and commuter rail station are each less than 1 mile away, while the nearest airport is less than 10 miles from the property. The Collingswood Borough Public Schools serve the area.
The home sits on large grounds in central Collingswood, near local parks, Main Street shops and restaurants, and the PATCO Speedline. A metro or subway station and commuter rail station are each less than 1 mile away, while the nearest airport is less than 10 miles from the property. The Collingswood Borough Public Schools serve the area.
Key Highlights
- Two separate apartments totaling 1,520 SF
- Upper unit includes three bedrooms, a new kitchen, and an updated bathroom
- Lower apartment has one bedroom and is occupied by a long‑term tenant
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
$17,287
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
3.42%
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%
$345,740
$345.7K
Cap Rate 7%
$246,957
$247.0K
Cap Rate 9%
$192,078
$192.1K
Market Conditions
NOI Build-Up for 1,520 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
$26.1K $17.16/SF
− Vacancy
−$1.4K −$0.91/SF
EGI
$24.7K $16.25/SF
− OpEx
−$7.4K −$4.87/SF
NOI
$17.3K $11.37/SF
Area
Camden County, NJ
Vacancy
5.32%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
30.00%
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%
$345,740
Cap Rate 7%
$246,957
Cap Rate 9%
$192,078
Alternative Uses
Best Use
Multifamily LT 5
$247.0K
$216.1K – $288.1K
NOI $17,287 @ 7.0% cap · market cap 3.42%
Second Best
Apartment 5plus
$220.5K
$193.0K – $257.3K
NOI $15,436 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$385.4K
$337.2K – $449.6K
NOI $26,978 @ 7.0% cap · market cap 5.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
997
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate living units include a renovated upper apartment and an occupied lower apartment.
Where is this duplex located?
The property is located at 215 Conard Avenue Collingswood, NJ.
What is the asking price?
The asking price for this property is $505,000.
What are key features of this property?
This property features: Two separate apartments totaling 1,520 SF; Upper unit includes three bedrooms, a new kitchen, and an updated bathroom; Lower apartment has one bedroom and is occupied by a long‑term tenant
