Remodeled Residential Income
For Sale
$235,000
Pending
405 ATLANTA COURT, Sewell, NJ 08080
First-floor end-unit condominium with updated interiors, a private deck, and an in-unit laundry closet.
Property Size1,022 SF
Days on Market42
Property Features for 405 ATLANTA COURT
General Information
Standard status
Pending
Size
1,022 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Amenities
deck
wood burning fire place
ceiling fan
walk in closet
laundry closet
Building Details
Building Size
1,022 SF
Year Built
1988
Listing Agency:
Real Broker, LLC
(856) 823-1556
Listed By:
Steven Kempton
(856) 823-1556
Source:
Patciervo.kw
Added: Jul 20
Changed: Aug 30
Last Checked: Aug 30 at 1:21PM
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 first-floor end-unit condominium offers two bedrooms and two full bathrooms within a fully remodeled interior. Engineered hardwood flooring extends through the living areas, where a wood-burning fireplace, ceiling fan, and sliding-door access to the deck add practical amenities. The upgraded kitchen features white shaker cabinetry with crown molding, quartz countertops, and newer appliances.
The primary bedroom includes a walk-in closet and a renovated bathroom with a shower stall, updated vanity, mirror, and lighting. A second bedroom sits near the other full bathroom, which also has a new vanity and fixtures. The laundry closet is located inside the bathroom. Built in 1988, the unit also includes a home warranty.
The primary bedroom includes a walk-in closet and a renovated bathroom with a shower stall, updated vanity, mirror, and lighting. A second bedroom sits near the other full bathroom, which also has a new vanity and fixtures. The laundry closet is located inside the bathroom. Built in 1988, the unit also includes a home warranty.
Key Highlights
- Two‑bedroom, two‑bathroom first‑floor end‑unit condominium
- Fully remodeled interior with engineered hardwood flooring throughout
- Kitchen with white shaker cabinets, quartz countertops, and newer appliances
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
$11,945
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
5.08%
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%
$238,900
$238.9K
Cap Rate 7%
$170,643
$170.6K
Cap Rate 9%
$132,722
$132.7K
Market Conditions
NOI Build-Up for 1,022 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
$23.1K $22.56/SF
− Vacancy
−$1.3K −$1.31/SF
EGI
$21.7K $21.25/SF
− OpEx
−$9.8K −$9.56/SF
NOI
$11.9K $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%
$238,900
Cap Rate 7%
$170,643
Cap Rate 9%
$132,722
Alternative Uses
Best Use
Apartment 5plus
$170.6K
$149.3K – $199.1K
NOI $11,945 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$343.5K
$300.6K – $400.8K
NOI $24,047 @ 7.0% cap · market cap 10.23%
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 - First-floor end-unit condominium with updated interiors, a private deck, and an in-unit laundry closet.
Where is this residential income property located?
The property is located at 405 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: Two‑bedroom, two‑bathroom first‑floor end‑unit condominium; Fully remodeled interior with engineered hardwood flooring throughout; Kitchen with white shaker cabinets, quartz countertops, and newer appliances
