Updated Residential Income
For Sale
$315,000
388 TAVISTOCK, Cherry Hill, NJ 08034
Condominium features an open kitchen with granite counters, wood cabinetry, and access to shared recreational amenities.
Property Size1,005 SF
Days on Market14
Property Features for 388 TAVISTOCK
General Information
Standard status
Active
Size
1,005 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$5,894
Building Details
Building Size
1,005 SF
Year Built
1987
Listing Agency:
Keller Williams Realty - Moorestown
(609) 351-9129
Listed By:
Amy M Ryan · License #1540866
(609) 351-9129
Source:
Patmckennarealtors
Added: Jul 22
Changed: Aug 4
Last Checked: Aug 4 at 5:11AM
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 2-bedroom, 2-bath condominium in the Tavistock community was built in 1987 and has been updated for comfortable residential use. The open kitchen includes granite countertops, wood cabinetry, and generous workspace, creating a practical connection to the main living area.
Community amenities include a swimming pool, tennis courts, and fitness center. The property is located in Cherry Hill near shopping, dining, major highways, and the PATCO Speedline, providing access to regional commuting routes and everyday services.
Community amenities include a swimming pool, tennis courts, and fitness center. The property is located in Cherry Hill near shopping, dining, major highways, and the PATCO Speedline, providing access to regional commuting routes and everyday services.
Key Highlights
- 2‑bedroom, 2‑bath condominium in the Tavistock community
- Updated open kitchen with granite countertops and wood cabinetry
- Community swimming pool, tennis courts, and fitness center
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $30.2k | $30.00 |
| − Vacancy | −$2.1k | −$2.04 |
| EGI | $28.1k | $27.96 |
| − OpEx | −$12.6k | −$12.58 |
| NOI | $15.5k | $15.38 |
1,005 SF · lease $30.00/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$220.8K
$193.2K – $257.6K
NOI $15,455 @ 7.0% cap · market cap 4.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$262.4K
$229.6K – $306.2K
NOI $18,370 @ 7.0% cap · market cap 5.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,320
Businesses Nearby
Explore this area
Business Placement
Demographics for 08034, NJ
19,256
Population
8,108
Households
2.4
Avg Household Size
42
Median Age
53%
College-Educated
94%
High-School Grad
5.9 sq mi
ZIP Area
3,264
Density / Sq Mi
$111,244
Median Household Income
$56,792
Median Earnings
$1,707
Median Rent
$335,700
Median Home Value
Market
Properties on Market for Residential income properties in Bergen County
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium features an open kitchen with granite counters, wood cabinetry, and access to shared recreational amenities.
Where is this residential income property located?
The property is located at 388 TAVISTOCK Cherry Hill, NJ.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 2‑bedroom, 2‑bath condominium in the Tavistock community; Updated open kitchen with granite countertops and wood cabinetry; Community swimming pool, tennis courts, and fitness center
