Updated Residential Income
For Sale
$285,000
3102 LIMESTONE WAY, Mount Laurel, NJ 08054
End-unit condominium with refreshed interiors, modern systems, fireplace, and private outdoor space.
Property Size1,092 SF
Days on Market38
Property Features for 3102 LIMESTONE WAY
General Information
Standard status
Active
Size
1,092 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$4,445
Building Details
Building Size
1,092 SF
Year Built
1990
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
Nikunj N Shah · License #902041
(856) 495-6543
Source:
Patmckennarealtors
Added: Aug 5
Changed: Sep 8
Last Checked: Sep 10 at 7:25AM
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 Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
This end-unit condominium in the Laurel Creek community offers a two-bedroom, two-bath layout with updated finishes and practical storage. Interior features include wood flooring, fresh paint, a living room with a wood-burning fireplace, and an eat-in kitchen equipped with quartz countertops, cabinetry, and a pantry. The primary suite includes a walk-in closet, pull-down attic access, and an updated private bathroom. A second bedroom sits near the additional full bathroom and can accommodate guests, office use, or nursery space.
The residence also includes an in-unit washer and dryer, a private patio, and an exterior storage closet. A new HVAC system and water heater were installed in 2025. Built in 1990, the property is located in Mount Laurel near shopping, dining, parks, and major highways.
The residence also includes an in-unit washer and dryer, a private patio, and an exterior storage closet. A new HVAC system and water heater were installed in 2025. Built in 1990, the property is located in Mount Laurel near shopping, dining, parks, and major highways.
Key Highlights
- Two‑bedroom, two‑bath end‑unit condominium in the Laurel Creek community
- New HVAC system and water heater installed in 2025
- Updated eat‑in kitchen with quartz countertops, cabinetry, and pantry
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
$14,303
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
5.02%
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%
$286,060
$286.1K
Cap Rate 7%
$204,329
$204.3K
Cap Rate 9%
$158,922
$158.9K
Market Conditions
NOI Build-Up for 1,092 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
$27.5K $25.20/SF
− Vacancy
−$1.5K −$1.39/SF
EGI
$26.0K $23.81/SF
− OpEx
−$11.7K −$10.72/SF
NOI
$14.3K $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%
$286,060
Cap Rate 7%
$204,329
Cap Rate 9%
$158,922
Alternative Uses
Best Use
Apartment 5plus
$204.3K
$178.8K – $238.4K
NOI $14,303 @ 7.0% cap · market cap 5.02%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.28M
$2.00M – $2.66M
NOI $159,873 @ 7.0% cap · market cap 56.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
204
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 with refreshed interiors, modern systems, fireplace, and private outdoor space.
Where is this residential income property located?
The property is located at 3102 LIMESTONE WAY Mount Laurel, NJ.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath end‑unit condominium in the Laurel Creek community; New HVAC system and water heater installed in 2025; Updated eat‑in kitchen with quartz countertops, cabinetry, and pantry
