First-Floor Residential Property with
303-A MULBERRY COVE, Mount Laurel, NJ 08054
For Sale
$240,000
Pending
A two-bedroom condo includes a covered patio, fireplace, and separate dining area.
Property Size1,046 SF
Days on Market15
Property Features for 303-A MULBERRY COVE
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Highway Access
Taxes and HOA fees
Annual Taxes
Amenities
fireplace
covered patio
separate laundry area
Building Details
Building Size
Year Built
Listing Agency:
Keller Williams Realty - Moorestown
Listed By:
Louis Sassano · License NJ #1753136
(609) 238-8881
Source:
Patmckennarealtors
Added: Oct 26
Changed: Nov 7
Last Checked: Nov 8 at 3:34PM
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 Keller Williams Realty - Moorestown
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Investment Insights
Based on property information with market context.
This first-floor condo was built in 1984 and has two bedrooms and one and a half bathrooms. The living area features a fireplace, with a separate dining space opening through sliding glass doors to a covered patio. The galley kitchen has cabinetry and countertop space, and a separate laundry area sits nearby. The primary bedroom has two closets and access to the full bathroom; the second bedroom offers additional flexible space.
The property is in Mount Laurel, New Jersey, with access to major highways, shopping, restaurants, and everyday conveniences.
The property is in Mount Laurel, New Jersey, with access to major highways, shopping, restaurants, and everyday conveniences.
Key Highlights
- Two‑bedroom, 1.5‑bath condo
- First‑floor layout with a covered patio
- Living room fireplace and separate dining area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,700
Cap Rate
5.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$274,000
$274.0K
Cap Rate 7%
$195,714
$195.7K
Cap Rate 9%
$152,222
$152.2K
Market Conditions
NOI Build-Up for 1,046 SF
Gross rent
$26.4K $25.20/SF
− Vacancy
−$1.4K −$1.39/SF
EGI
$24.9K $23.81/SF
− OpEx
−$11.2K −$10.72/SF
NOI
$13.7K $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 Rate 5%
$274,000
Cap Rate 7%
$195,714
Cap Rate 9%
$152,222
Alternative Uses
Best Use
Apartment 5plus
$195.7K
$171.3K – $228.3K
NOI $13,700 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$223.5K
$195.5K – $260.7K
NOI $15,642 @ 7.0% cap · market cap 6.52%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
868
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
$341,400
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Burlington County, NJ
Properties on Market for Residential income properties in Burlington County
Frequently Asked Questions
What type of property is this?
Residential income property - A two-bedroom condo includes a covered patio, fireplace, and separate dining area.
Where is this residential income property located?
The property is located at 303-A MULBERRY COVE Mount Laurel, NJ.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Two‑bedroom, 1.5‑bath condo; First‑floor layout with a covered patio; Living room fireplace and separate dining area
