Penthouse Residential
New
For Sale
$464,900
4046 DERBY COURT, Cherry Hill, NJ 08002
A two-bedroom, two-bathroom penthouse includes an attached garage and access to shared community amenities.
Property Size1,306 SF
Days on Market4
Property Features for 4046 DERBY COURT
General Information
Standard status
Active
Size
1,306 SF
Property subtype
Penthouse Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$9,800
Amenities
fitness center
outdoor pool
clubhouse
Building Details
Building Size
1,306 SF
Year Built
2014
Listing Agency:
DeFelice Realty Group, LLC
Listed By:
Marguerite Marion · License #8933769
(732) 547-5104
Source:
Patmckennarealtors
Added: Sep 29
Changed: Oct 1
Last Checked: Oct 1 at 2:00PM
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 DeFelice Realty Group, LLC
Investment Insights
Based on property information with market context.
This penthouse residence was built in 2014 and offers two bedrooms and two full bathrooms. An attached garage and additional parking serve the unit, while community amenities include a fitness center, outdoor pool, and clubhouse.
Association services include lawn care, snow removal, and property management. Shopping, dining, entertainment, recreational parks, schools, and major transportation routes are identified as nearby conveniences.
Association services include lawn care, snow removal, and property management. Shopping, dining, entertainment, recreational parks, schools, and major transportation routes are identified as nearby conveniences.
Key Highlights
- Penthouse unit with two bedrooms and two full bathrooms
- Built in 2014
- Attached garage plus additional parking
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
$13,263
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
2.85%
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%
$265,260
$265.3K
Cap Rate 7%
$189,471
$189.5K
Cap Rate 9%
$147,367
$147.4K
Market Conditions
NOI Build-Up for 1,306 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
$25.5K $19.56/SF
− Vacancy
−$1.4K −$1.10/SF
EGI
$24.1K $18.46/SF
− OpEx
−$10.9K −$8.31/SF
NOI
$13.3K $10.16/SF
Area
Camden County, NJ
Vacancy
5.60%
Lease Rate
$19.56 /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%
$265,260
Cap Rate 7%
$189,471
Cap Rate 9%
$147,367
Alternative Uses
Best Use
Apartment 5plus
$189.5K
$165.8K – $221.1K
NOI $13,263 @ 7.0% cap · market cap 2.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$331.1K
$289.8K – $386.3K
NOI $23,180 @ 7.0% cap · market cap 4.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,300
Businesses Nearby
Explore this area
Business Placement
Demographics for 08002, NJ
23,920
Population
9,967
Households
2.4
Avg Household Size
41
Median Age
46%
College-Educated
92%
High-School Grad
7.2 sq mi
ZIP Area
3,322
Density / Sq Mi
$105,523
Median Household Income
$56,963
Median Earnings
$1,895
Median Rent
$301,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - A two-bedroom, two-bathroom penthouse includes an attached garage and access to shared community amenities.
Where is this residential income property located?
The property is located at 4046 DERBY COURT Cherry Hill, NJ.
What is the asking price?
The asking price for this property is $464,900.
What are key features of this property?
This property features: Penthouse unit with two bedrooms and two full bathrooms; Built in 2014; Attached garage plus additional parking
