Refreshed Residential Income
For Sale
$300,000
36 ERASER ROAD, Moorestown, NJ 08057
Two-bedroom condominium with a finished basement, updated interiors, and low-maintenance living.
Property Size1,132 SF
Price / SF$265.02
Days on Market102
Property Features for 36 ERASER ROAD
General Information
Standard status
Active
Size
1,132 SF
Property subtype
Apartment
Units
Unit Mix
2BR/2BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Amenities
Central A/C
Forced Air
Deck
Building Details
Year Built
1991
Listing Agency:
(609) 220-2403
Listed By:
William Flanders · License #0682061
(609) 220-2403
Source:
Kw
Added: May 7
Changed: Aug 16
Last Checked: Aug 16 at 5:34AM
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 William Flanders
Investment Insights
Based on property information with market context.
This refreshed residential income property is a two-bedroom, two-bath condominium with 1,132 square feet of living space and a full finished basement. Recent interior improvements include fresh paint throughout, new carpeting, and repainted kitchen cabinetry. The basement adds flexible finished area for a family room, office, gym, hobby space, or storage. Central A/C and forced-air heating support year-round comfort, while a deck extends the usable living area outdoors. The property was built in 1991.
Located in Moorestown near shopping, dining, major highways, and Philadelphia commuter routes, the condominium combines a practical layout with convenient regional access. The primary suite, second bedroom, and two full bathrooms provide a functional configuration within a low-maintenance residential setting.
Located in Moorestown near shopping, dining, major highways, and Philadelphia commuter routes, the condominium combines a practical layout with convenient regional access. The primary suite, second bedroom, and two full bathrooms provide a functional configuration within a low-maintenance residential setting.
Key Highlights
- Two‑bedroom, two‑bath condominium with 1,132 square feet of living space
- Full finished basement with flexible additional area
- Fresh paint, new carpeting, and repainted kitchen cabinetry
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
$14,827
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
4.94%
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%
$296,540
$296.5K
Cap Rate 7%
$211,814
$211.8K
Cap Rate 9%
$164,744
$164.7K
Market Conditions
NOI Build-Up for 1,132 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
$28.5K $25.20/SF
− Vacancy
−$1.6K −$1.39/SF
EGI
$27.0K $23.81/SF
− OpEx
−$12.1K −$10.72/SF
NOI
$14.8K $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%
$296,540
Cap Rate 7%
$211,814
Cap Rate 9%
$164,744
Alternative Uses
Best Use
Apartment 5plus
$211.8K
$185.3K – $247.1K
NOI $14,827 @ 7.0% cap · market cap 4.94%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.37M
$2.07M – $2.76M
NOI $165,729 @ 7.0% cap · market cap 55.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
280
Businesses Nearby
Explore this area
Business Placement
Demographics for 08057, NJ
21,691
Population
8,382
Households
2.6
Avg Household Size
44
Median Age
67%
College-Educated
96%
High-School Grad
15.3 sq mi
ZIP Area
1,418
Density / Sq Mi
$152,290
Median Household Income
$72,500
Median Earnings
$1,485
Median Rent
$626,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium with a finished basement, updated interiors, and low-maintenance living.
Where is this residential income property located?
The property is located at 36 ERASER ROAD Moorestown, NJ.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath condominium with 1,132 square feet of living space; Full finished basement with flexible additional area; Fresh paint, new carpeting, and repainted kitchen cabinetry
