First-Floor Residential
For Sale
$325,000
3801 SAXONY DRIVE, Mount Laurel, NJ 08054
Two-bedroom condominium with updated appliances, in-unit laundry, and an assigned parking space.
Property Size1,248 SF
Price / SF$260.42
Days on Market8
Property Features for 3801 SAXONY DRIVE
General Information
Standard status
Active
Size
1,248 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,454
Amenities
in-unit laundry
Building Details
Building Size
1,248 SF
Year Built
1995
Construction
garden-style
Listing Agency:
Cheryl Eliason & Associates, LLC
(856) 534-4364
Listed By:
Cheryl Lynn Eliason · License #2078071
(856) 534-4364
Source:
Patmckennarealtors
Added: Aug 10
Changed: Aug 16
Last Checked: Aug 16 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 Cheryl Eliason & Associates, LLC
Investment Insights
Based on property information with market context.
This first-floor condominium offers 1,248 square feet with two bedrooms and two bathrooms in a garden-style residential setting. The open living area connects with the kitchen, which includes stainless appliances along with a newer microwave and newer oven/stove. In-unit laundry is provided with a newer washer and new dryer. Natural light and access to outdoor surroundings complement the interior layout.
Constructed in 1995, the unit is described as being in good condition. An assigned parking space is included, and the property is located in the Madison Place community in Mount Laurel, New Jersey.
Constructed in 1995, the unit is described as being in good condition. An assigned parking space is included, and the property is located in the Madison Place community in Mount Laurel, New Jersey.
Key Highlights
- 1,248‑square‑foot first‑floor condominium
- Two bedrooms and two bathrooms
- Stainless kitchen appliances, including newer microwave and oven/stove
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
$16,346
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
5.03%
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%
$326,920
$326.9K
Cap Rate 7%
$233,514
$233.5K
Cap Rate 9%
$181,622
$181.6K
Market Conditions
NOI Build-Up for 1,248 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
$31.4K $25.20/SF
− Vacancy
−$1.7K −$1.39/SF
EGI
$29.7K $23.81/SF
− OpEx
−$13.4K −$10.72/SF
NOI
$16.3K $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%
$326,920
Cap Rate 7%
$233,514
Cap Rate 9%
$181,622
Alternative Uses
Best Use
Apartment 5plus
$233.5K
$204.3K – $272.4K
NOI $16,346 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.61M
$2.28M – $3.05M
NOI $182,712 @ 7.0% cap · market cap 56.22%
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
736
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 - Two-bedroom condominium with updated appliances, in-unit laundry, and an assigned parking space.
Where is this residential income property located?
The property is located at 3801 SAXONY DRIVE Mount Laurel, NJ.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 1,248‑square‑foot first‑floor condominium; Two bedrooms and two bathrooms; Stainless kitchen appliances, including newer microwave and oven/stove
