Residential Income Property with
For Sale
$320,000
232 TIMBERLAKE DRIVE, Ewing, NJ 08618
Garden-style condominium with private balcony, secure entry, and community pool access.
Property Size1,464 SF
Price / SF$218.58
Days on Market52
Property Features for 232 TIMBERLAKE DRIVE
General Information
Standard status
Active
Size
1,464 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Amenities
in-ground pool
balcony
monitored entry
secure main entrance
washer and dryer hookups
Building Details
Year Built
2012
Construction
garden-style
Listing Agency:
BHHS Fox & Roach - Princeton
(609) 924-1600
Listed By:
Lucia Dlugacz · License #RS358693
(609) 921-2600
Source:
Cummingsrealtors
Added: Sep 14
Changed: Nov 3
Last Checked: Nov 3 at 7:32AM
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 - Princeton
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Investment Insights
Based on property information with market context.
This 2-bedroom, 2-bath condominium is a garden-style residential income property in The Jefferson, completed in 2012. The 1,464-square-foot unit includes an open kitchen and dining area, washer and dryer hookups, carpeted living spaces, and tile in the kitchen and bathrooms. A balcony adds private outdoor space, while the maintained lot and in-ground pool contribute to the property’s shared amenities. Monitored entry and a secure main entrance are also provided.
Key Highlights
- 2‑bedroom, 2‑bath condominium measuring 1,464 square feet
- Built in 2012 with garden‑style condominium design
- Open kitchen and dining area with washer and dryer hookups
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,344
Cap Rate
6.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$446,880
$446.9K
Cap Rate 7%
$319,200
$319.2K
Cap Rate 9%
$248,267
$248.3K
Market Conditions
NOI Build-Up for 1,464 SF
Gross rent
$43.9K $30.00/SF
− Vacancy
−$3.3K −$2.25/SF
EGI
$40.6K $27.75/SF
− OpEx
−$18.3K −$12.49/SF
NOI
$22.3K $15.26/SF
Area
Mercer County, NJ
Vacancy
7.50%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$446,880
Cap Rate 7%
$319,200
Cap Rate 9%
$248,267
Alternative Uses
Best Use
Apartment 5plus
$319.2K
$279.3K – $372.4K
NOI $22,344 @ 7.0% cap · market cap 6.98%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$471.0K
$412.2K – $549.5K
NOI $32,972 @ 7.0% cap · market cap 10.30%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
530
Businesses Nearby
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Business Placement
Demographics for 08618, NJ
37,544
Population
15,284
Households
2.5
Avg Household Size
34
Median Age
24%
College-Educated
86%
High-School Grad
5.9 sq mi
ZIP Area
6,363
Density / Sq Mi
$48,179
Median Household Income
$33,040
Median Earnings
$1,117
Median Rent
$211,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Garden-style condominium with private balcony, secure entry, and community pool access.
Where is this residential income property located?
The property is located at 232 TIMBERLAKE DRIVE Ewing, NJ.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: 2‑bedroom, 2‑bath condominium measuring 1,464 square feet; Built in 2012 with garden‑style condominium design; Open kitchen and dining area with washer and dryer hookups
