Residential Income Property with
For Sale
$269,000
282 EVERLY COURT, Mount Laurel, NJ 08054
End-unit condominium offering flexible living space, updated finishes, and a private balcony.
Property Size1,164 SF
Days on Market10
Property Features for 282 EVERLY COURT
General Information
Standard status
Active
Size
1,164 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,433
Building Details
Building Size
1,164 SF
Year Built
1985
Listing Agency:
EXP Realty, LLC
Listed By:
Michael Thornton · License #0227077
(856) 607-5089
Source:
Patmckennarealtors
Added: Sep 2
Changed: Sep 4
Last Checked: Sep 10 at 8:33AM
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.
This second-floor end-unit condominium includes two bedrooms, one full bathroom, a living room with cathedral ceilings, and a formal dining area. A loft adds adaptable interior space that can function as a bedroom, office, or playroom, while the primary bedroom includes a walk-in closet. The property also features a balcony and was built in 1985.
Recent improvements include a replacement gas water heater installed in 2021, along with a new vanity, toilet, and flooring. The condominium is located in Le Club at 282 Everly Court in Mount Laurel, New Jersey.
Recent improvements include a replacement gas water heater installed in 2021, along with a new vanity, toilet, and flooring. The condominium is located in Le Club at 282 Everly Court in Mount Laurel, New Jersey.
Key Highlights
- Second‑floor end‑unit condominium in Le Club
- Two bedrooms and one full bathroom
- Large loft suitable for a bedroom, office, or playroom
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
$15,246
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
5.67%
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%
$304,920
$304.9K
Cap Rate 7%
$217,800
$217.8K
Cap Rate 9%
$169,400
$169.4K
Market Conditions
NOI Build-Up for 1,164 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
$29.3K $25.20/SF
− Vacancy
−$1.6K −$1.39/SF
EGI
$27.7K $23.81/SF
− OpEx
−$12.5K −$10.72/SF
NOI
$15.2K $13.10/SF
Area
Burlington County, NJ
Vacancy
5.50%
Lease Rate
$25.20 /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%
$304,920
Cap Rate 7%
$217,800
Cap Rate 9%
$169,400
Alternative Uses
Best Use
Apartment 5plus
$217.8K
$190.6K – $254.1K
NOI $15,246 @ 7.0% cap · market cap 5.67%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.43M
$2.13M – $2.84M
NOI $170,414 @ 7.0% cap · market cap 63.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
76
Businesses Nearby
Explore this area
Business Placement
Demographics for 08054, NJ
44,633
Population
19,966
Households
2.2
Avg Household Size
44
Median Age
56%
College-Educated
96%
High-School Grad
21.7 sq mi
ZIP Area
2,057
Density / Sq Mi
$114,629
Median Household Income
$67,986
Median Earnings
$1,966
Median Rent
$341,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - End-unit condominium offering flexible living space, updated finishes, and a private balcony.
Where is this residential income property located?
The property is located at 282 EVERLY COURT Mount Laurel, NJ.
What is the asking price?
The asking price for this property is $269,000.
What are key features of this property?
This property features: Second‑floor end‑unit condominium in Le Club; Two bedrooms and one full bathroom; Large loft suitable for a bedroom, office, or playroom
