Updated First-Floor Income
For Sale
$269,900
259 KIPS COURT, Marlton, NJ 08053
Two-bedroom condominium with refreshed interiors, in-unit laundry, central air, and two unassigned parking spaces.
Property Size1,115 SF
Days on Market11
Property Features for 259 KIPS COURT
General Information
Standard status
Active
Size
1,115 SF
Total Parking Spaces
2
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/1.5BA
Multifamily Units
1
Additional Details
HOA Fee
$270
Taxes and HOA fees
Annual Taxes
$4,241
Amenities
community pool
in-unit washer/dryer
central air conditioning
forced hot air
Building Details
Building Size
1,115 SF
Year Built
1974
Listing Agency:
RE/MAX Central - Manalapan
(732) 984-8300
Listed By:
George Pavlushkin · License #1324942
(732) 984-8300
Source:
Patmckennarealtors
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 30 at 11:35PM
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 Central - Manalapan
Investment Insights
Based on property information with market context.
This first-floor residential income property in Society Hill North features two bedrooms and one and a half baths. Interior improvements include vinyl flooring, fresh paint, quartz kitchen countertops, stainless steel appliances, and an oversized pantry. The primary bedroom has two closets, while the second bedroom can function as a den or home office. An updated full bath and hallway half bath serve the unit.
The condominium includes an in-unit washer and dryer, central air conditioning, and forced hot air. Two unassigned parking spaces are included. Community amenities include a pool, and pet occupancy is subject to HOA rules. The property was built in 1974 and is located at 259 Kips Court in Marlton, New Jersey.
The condominium includes an in-unit washer and dryer, central air conditioning, and forced hot air. Two unassigned parking spaces are included. Community amenities include a pool, and pet occupancy is subject to HOA rules. The property was built in 1974 and is located at 259 Kips Court in Marlton, New Jersey.
Key Highlights
- First‑floor condominium with 2 bedrooms and 1.5 baths
- Updated kitchen with quartz countertops, stainless steel appliances, and oversized pantry
- Primary bedroom includes two closets and an updated full bath
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
$11,323
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
4.20%
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%
$226,460
$226.5K
Cap Rate 7%
$161,757
$161.8K
Cap Rate 9%
$125,811
$125.8K
Market Conditions
NOI Build-Up for 1,115 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
$21.8K $19.56/SF
− Vacancy
−$1.2K −$1.10/SF
EGI
$20.6K $18.46/SF
− OpEx
−$9.3K −$8.31/SF
NOI
$11.3K $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%
$226,460
Cap Rate 7%
$161,757
Cap Rate 9%
$125,811
Alternative Uses
Best Use
Apartment 5plus
$161.8K
$141.5K – $188.7K
NOI $11,323 @ 7.0% cap · market cap 4.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$282.7K
$247.4K – $329.8K
NOI $19,790 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
82
Businesses Nearby
Explore this area
Business Placement
Demographics for 08053, NJ
46,826
Population
20,090
Households
2.3
Avg Household Size
43
Median Age
53%
College-Educated
98%
High-School Grad
29.2 sq mi
ZIP Area
1,604
Density / Sq Mi
$116,745
Median Household Income
$67,439
Median Earnings
$1,939
Median Rent
$368,100
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 refreshed interiors, in-unit laundry, central air, and two unassigned parking spaces.
Where is this residential income property located?
The property is located at 259 KIPS COURT Marlton, NJ.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: First‑floor condominium with 2 bedrooms and 1.5 baths; Updated kitchen with quartz countertops, stainless steel appliances, and oversized pantry; Primary bedroom includes two closets and an updated full bath
