Residential Income Property with
For Sale
$299,000
303 TAVISTOCK, Cherry Hill, NJ 08034
Second-floor condominium featuring balconies, a fireplace, stainless steel appliances, and access to shared recreation facilities.
Property Size1,101 SF
Days on Market9
Property Features for 303 TAVISTOCK
General Information
Standard status
Active
Size
1,101 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$6,082
Amenities
high ceilings
wood-burning fireplace
double doors to deck
balcony
pool
tennis courts
stainless steel appliances
Building Details
Building Size
1,101 SF
Year Built
1987
Listing Agency:
Keller Williams Prosperity
(973) 830-9186
Listed By:
James Hogan
(973) 830-9186
Source:
Patmckennarealtors
Added: Aug 15
Changed: Aug 21
Last Checked: Aug 22 at 11:09AM
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 Prosperity
Investment Insights
Based on property information with market context.
This second-floor condominium in Cherry Hill was built in 1987 and includes two bedrooms, two full bathrooms, and a loft reached by spiral staircase. The living room features high ceilings, a wood-burning fireplace, and access to one balcony. A second balcony extends from the loft. The kitchen provides substantial cabinet storage and stainless steel appliances, while a separate dining area receives natural light.
The property is at 303 Tavistock in Cherry Hill, with the center of Cherry Hill and Philadelphia described as nearby. Community amenities include an association pool and tennis courts. Emotional support animals are permitted with proper documentation.
The property is at 303 Tavistock in Cherry Hill, with the center of Cherry Hill and Philadelphia described as nearby. Community amenities include an association pool and tennis courts. Emotional support animals are permitted with proper documentation.
Key Highlights
- Two‑bedroom, two‑bathroom second‑floor condominium
- Loft accessed by spiral staircase with a second balcony
- Living room includes high ceilings and a wood‑burning fireplace
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
$16,931
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
5.66%
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%
$338,620
$338.6K
Cap Rate 7%
$241,871
$241.9K
Cap Rate 9%
$188,122
$188.1K
Market Conditions
NOI Build-Up for 1,101 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
$33.0K $30.00/SF
− Vacancy
−$2.2K −$2.04/SF
EGI
$30.8K $27.96/SF
− OpEx
−$13.9K −$12.58/SF
NOI
$16.9K $15.38/SF
Area
Bergen County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /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%
$338,620
Cap Rate 7%
$241,871
Cap Rate 9%
$188,122
Alternative Uses
Best Use
Apartment 5plus
$241.9K
$211.6K – $282.2K
NOI $16,931 @ 7.0% cap · market cap 5.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$287.5K
$251.6K – $335.4K
NOI $20,125 @ 7.0% cap · market cap 6.73%
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
1,277
Businesses Nearby
Explore this area
Business Placement
Demographics for 08034, NJ
19,256
Population
8,108
Households
2.4
Avg Household Size
42
Median Age
53%
College-Educated
94%
High-School Grad
5.9 sq mi
ZIP Area
3,264
Density / Sq Mi
$111,244
Median Household Income
$56,792
Median Earnings
$1,707
Median Rent
$335,700
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 featuring balconies, a fireplace, stainless steel appliances, and access to shared recreation facilities.
Where is this residential income property located?
The property is located at 303 TAVISTOCK Cherry Hill, NJ.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bathroom second‑floor condominium; Loft accessed by spiral staircase with a second balcony; Living room includes high ceilings and a wood‑burning fireplace
