Two-Bedroom First-Floor Residential
For Sale
$131,261
Pending
3805 FENWICK LANE, Mount Laurel, NJ 08054
Updated condominium residence with two bedrooms, in-unit laundry, and a private patio in Laurel Creek.
Property Size804 SF
Days on Market26
Property Features for 3805 FENWICK LANE
General Information
Standard status
Pending
Size
804 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,212
Amenities
in-unit laundry
private patio
Building Details
Building Size
804 SF
Year Built
1991
Listing Agency:
Keller Williams Realty - Moorestown
Listed By:
Nicole Gendin · License #1536358
(856) 912-6474
Source:
Patmckennarealtors
Added: Aug 18
Changed: Aug 31
Last Checked: Sep 11 at 5:01PM
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 first-floor condominium in the Laurel Creek community offers two bedrooms and one full bathroom. Recent improvements include new flooring, fresh neutral paint, an updated kitchen with cabinet and counter space, and a renovated bathroom. The floor plan connects the kitchen with the living and dining areas, while in-unit laundry and a private patio add practical features to the residence. The property was built in 1991.
The home is near shopping, dining, and major commuter routes in Mount Laurel. It is subject to a moderate-income housing program, and the buyer must receive approval from the Mount Laurel Township Affordable Housing Office before entering into a contract.
The home is near shopping, dining, and major commuter routes in Mount Laurel. It is subject to a moderate-income housing program, and the buyer must receive approval from the Mount Laurel Township Affordable Housing Office before entering into a contract.
Key Highlights
- Two‑bedroom, one‑bath first‑floor condominium
- New flooring and fresh neutral paint throughout
- Updated kitchen with cabinet and counter space
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
$10,531
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
8.02%
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%
$210,620
$210.6K
Cap Rate 7%
$150,443
$150.4K
Cap Rate 9%
$117,011
$117.0K
Market Conditions
NOI Build-Up for 804 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
$20.3K $25.20/SF
− Vacancy
−$1.1K −$1.39/SF
EGI
$19.1K $23.81/SF
− OpEx
−$8.6K −$10.72/SF
NOI
$10.5K $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%
$210,620
Cap Rate 7%
$150,443
Cap Rate 9%
$117,011
Alternative Uses
Best Use
Apartment 5plus
$150.4K
$131.6K – $175.5K
NOI $10,531 @ 7.0% cap · market cap 8.02%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.68M
$1.47M – $1.96M
NOI $117,709 @ 7.0% cap · market cap 89.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
458
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condominium residence with two bedrooms, in-unit laundry, and a private patio in Laurel Creek.
Where is this residential income property located?
The property is located at 3805 FENWICK LANE Mount Laurel, NJ.
What is the asking price?
The asking price for this property is $131,261.
What are key features of this property?
This property features: Two‑bedroom, one‑bath first‑floor condominium; New flooring and fresh neutral paint throughout; Updated kitchen with cabinet and counter space
