Updated Residential Income
For Sale
$269,900
Pending
3520 NEILS COURT, Mount Laurel, NJ 08054
Open living, dining, and kitchen areas are paired with a large balcony and community amenities.
Property Size1,152 SF
Days on Market30
Property Features for 3520 NEILS COURT
General Information
Standard status
Pending
Size
1,152 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,841
Amenities
balcony
clubhouse
in-ground pool
tennis court
pickle ball courts
Building Details
Building Size
1,152 SF
Year Built
1986
Listing Agency:
Keller Williams Realty - Moorestown
Listed By:
Louis Sassano · License #1753136
(609) 238-8881
Source:
Patmckennarealtors
Added: Aug 14
Changed: Sep 12
Last Checked: Sep 11 at 1:42PM
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
Investment Insights
Based on property information with market context.
This second-floor condominium in Mount Laurel offers a two-bedroom, two-bath layout with an open arrangement connecting the living, dining, and kitchen areas. Luxury vinyl plank flooring extends throughout the residence. The kitchen includes granite countertops, newer stainless steel appliances, and a breakfast bar. The primary bedroom features an en-suite bath and walk-in closet, while the second bedroom connects directly to the hall bathroom. A large balcony adds outdoor space.
Located within the Renaissance Club 55+ Community, the property includes access to a clubhouse, in-ground pool, tennis court, and pickleball courts. Supermarkets, restaurants, and shops are reachable by a short drive or walk. Built in 1986, the condominium is located at 3520 Neils Court, Mount Laurel, NJ 08054.
Located within the Renaissance Club 55+ Community, the property includes access to a clubhouse, in-ground pool, tennis court, and pickleball courts. Supermarkets, restaurants, and shops are reachable by a short drive or walk. Built in 1986, the condominium is located at 3520 Neils Court, Mount Laurel, NJ 08054.
Key Highlights
- Second‑floor condominium with 2 bedrooms and 2 bathrooms
- Open connection between the living room, dining area, and kitchen
- Kitchen with granite countertops, newer stainless steel appliances, and breakfast bar
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
$15,089
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
5.59%
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%
$301,780
$301.8K
Cap Rate 7%
$215,557
$215.6K
Cap Rate 9%
$167,656
$167.7K
Market Conditions
NOI Build-Up for 1,152 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
$29.0K $25.20/SF
− Vacancy
−$1.6K −$1.39/SF
EGI
$27.4K $23.81/SF
− OpEx
−$12.3K −$10.72/SF
NOI
$15.1K $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%
$301,780
Cap Rate 7%
$215,557
Cap Rate 9%
$167,656
Alternative Uses
Best Use
Apartment 5plus
$215.6K
$188.6K – $251.5K
NOI $15,089 @ 7.0% cap · market cap 5.59%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.41M
$2.11M – $2.81M
NOI $168,657 @ 7.0% cap · market cap 62.49%
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
712
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 - Open living, dining, and kitchen areas are paired with a large balcony and community amenities.
Where is this residential income property located?
The property is located at 3520 NEILS COURT Mount Laurel, NJ.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: Second‑floor condominium with 2 bedrooms and 2 bathrooms; Open connection between the living room, dining area, and kitchen; Kitchen with granite countertops, newer stainless steel appliances, and breakfast bar
