Remodeled Residential Income
For Sale
$235,000
Pending
404 ATLANTA COURT, Sewell, NJ 08080
Second-floor end unit with two bedrooms, two full bathrooms, and a private deck.
Property Size1,086 SF
Days on Market32
Property Features for 404 ATLANTA COURT
General Information
Standard status
Pending
Size
1,086 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Building Details
Building Size
1,086 SF
Year Built
1988
Listing Agency:
Real Broker, LLC
(856) 823-1556
Listed By:
Steven Kempton
(856) 823-1556
Source:
Patciervo.kw
Added: Jul 31
Changed: Aug 29
Last Checked: Aug 30 at 1:19PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This 2nd-floor end-unit condo offers 2 bedrooms and 2 full bathrooms within a 1988 residential property. The interior features engineered hardwood flooring, fresh paint, a wood-burning fireplace, vaulted ceiling, modern ceiling fan, and a sliding door leading to the deck. The kitchen has white shaker cabinetry and stainless steel appliances. The primary bedroom includes a walk-in closet, while the updated primary bathroom provides a shower stall, new vanity, mirror, and light fixture. A second bedroom sits across from the other full bathroom, which includes updated vanity and fixtures. The in-unit laundry closet is located within that bathroom. The property also has a newer HVAC system and hot water heater.
Key Highlights
- 2nd‑floor end unit at 404 ATLANTA COURT, SEWELL, NJ 08080
- 2 bedrooms and 2 full bathrooms
- Engineered hardwood flooring, fresh paint, vaulted ceiling, and wood‑burning fireplace
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
$12,694
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
5.40%
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%
$253,880
$253.9K
Cap Rate 7%
$181,343
$181.3K
Cap Rate 9%
$141,044
$141.0K
Market Conditions
NOI Build-Up for 1,086 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
$24.5K $22.56/SF
− Vacancy
−$1.4K −$1.31/SF
EGI
$23.1K $21.25/SF
− OpEx
−$10.4K −$9.56/SF
NOI
$12.7K $11.69/SF
Area
Gloucester County, NJ
Vacancy
5.80%
Lease Rate
$22.56 /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%
$253,880
Cap Rate 7%
$181,343
Cap Rate 9%
$141,044
Alternative Uses
Best Use
Apartment 5plus
$181.3K
$158.7K – $211.6K
NOI $12,694 @ 7.0% cap · market cap 5.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$365.0K
$319.4K – $425.9K
NOI $25,553 @ 7.0% cap · market cap 10.87%
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
84
Businesses Nearby
Explore this area
Business Placement
Demographics for 08080, NJ
37,942
Population
14,746
Households
2.6
Avg Household Size
43
Median Age
44%
College-Educated
96%
High-School Grad
29.2 sq mi
ZIP Area
1,299
Density / Sq Mi
$119,919
Median Household Income
$61,474
Median Earnings
$1,674
Median Rent
$330,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Second-floor end unit with two bedrooms, two full bathrooms, and a private deck.
Where is this residential income property located?
The property is located at 404 ATLANTA COURT Sewell, NJ.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: 2nd‑floor end unit at 404 ATLANTA COURT, SEWELL, NJ 08080; 2 bedrooms and 2 full bathrooms; Engineered hardwood flooring, fresh paint, vaulted ceiling, and wood‑burning fireplace
