Two-Bedroom Residential Income
New
For Sale
$249,999
28 IPSWICH PLACE, Sewell, NJ 08080
Second-floor condominium with updated interiors, in-unit laundry, and access to a community swimming pool.
Property Size1,180 SF
Days on Market5
Property Features for 28 IPSWICH PLACE
General Information
Standard status
Active
Size
1,180 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,069
Amenities
community pool
in-unit laundry
Building Details
Building Size
1,180 SF
Year Built
1986
Listing Agency:
EXP Realty, LLC
(856) 651-8485
Listed By:
Dante Casella · License #2294098
(856) 651-8485
Source:
Brucerealty
Added: Aug 17
Changed: Aug 20
Last Checked: Aug 20 at 12:43PM
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.
Located at 28 Ipswich Place in the Newtown Commons community of Washington Township, this second-floor condominium contains two bedrooms and 1.5 bathrooms. The residence has been renovated with an updated kitchen, refreshed bathrooms, and a bright open arrangement connecting the kitchen, living, and dining areas. In-unit laundry adds everyday convenience, while the community pool provides an additional resident amenity.
Built in 1986, the property is positioned in Sewell, New Jersey, near shopping, dining, and major highways. Its condominium format and updated interior provide a lower-maintenance residential setting within an established community.
Built in 1986, the property is positioned in Sewell, New Jersey, near shopping, dining, and major highways. Its condominium format and updated interior provide a lower-maintenance residential setting within an established community.
Key Highlights
- Two‑bedroom, 1.5‑bathroom second‑floor condominium
- Renovated interior with updated kitchen and bathrooms
- Open kitchen, living, and dining arrangement
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
$13,792
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
5.52%
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%
$275,840
$275.8K
Cap Rate 7%
$197,029
$197.0K
Cap Rate 9%
$153,244
$153.2K
Market Conditions
NOI Build-Up for 1,180 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
$26.6K $22.56/SF
− Vacancy
−$1.5K −$1.31/SF
EGI
$25.1K $21.25/SF
− OpEx
−$11.3K −$9.56/SF
NOI
$13.8K $11.69/SF
Area
Gloucester County, NJ
Vacancy
5.80%
Lease Rate
$22.56 /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%
$275,840
Cap Rate 7%
$197,029
Cap Rate 9%
$153,244
Alternative Uses
Best Use
Apartment 5plus
$197.0K
$172.4K – $229.9K
NOI $13,792 @ 7.0% cap · market cap 5.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$396.6K
$347.1K – $462.8K
NOI $27,765 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,196
Businesses Nearby
Explore this area
Business Placement
Demographics for 08080, NJ
37,942
Population
14,746
Households
2.6
Avg Household Size
43
Median Age
44%
College-Educated
96%
High-School Grad
29.2 sq mi
ZIP Area
1,299
Density / Sq Mi
$119,919
Median Household Income
$61,474
Median Earnings
$1,674
Median Rent
$330,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Second-floor condominium with updated interiors, in-unit laundry, and access to a community swimming pool.
Where is this residential income property located?
The property is located at 28 IPSWICH PLACE Sewell, NJ.
What is the asking price?
The asking price for this property is $249,999.
What are key features of this property?
This property features: Two‑bedroom, 1.5‑bathroom second‑floor condominium; Renovated interior with updated kitchen and bathrooms; Open kitchen, living, and dining arrangement
