First-Floor Residential Income
New
For Sale
$165,000
4105 TRACY COURT, Voorhees, NJ 08043
HVAC, windows, and stainless steel kitchen appliances have been updated, while the flooring is ready for new installation.
Property Size951 SF
Days on Market4
Property Features for 4105 TRACY COURT
General Information
Standard status
Active
Size
951 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,935
Amenities
community swimming pool
Building Details
Building Size
951 SF
Year Built
1984
Listing Agency:
Compass New Jersey, LLC - Haddon Township
Listed By:
Carol A Minghenelli · License #342643
(609) 230-4799
Source:
Patmckennarealtors
Added: Sep 29
Changed: Oct 1
Last Checked: Oct 1 at 11:28AM
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 Compass New Jersey, LLC - Haddon Township
Investment Insights
Based on property information with market context.
Built in 1984, this first-floor condominium has updated HVAC and windows, along with stainless steel kitchen appliances that include a refrigerator and dishwasher. Existing flooring has been removed, leaving the interior ready for new flooring. The property is being sold as is; the buyer is responsible for inspections and certifications, and the seller will make no repairs.
Residents have access to a community swimming pool. The condo is near PATCO, major roadways, UMDNJ, and shopping.
Residents have access to a community swimming pool. The condo is near PATCO, major roadways, UMDNJ, and shopping.
Key Highlights
- First‑floor condominium in the LaBonne Vie community
- HVAC and windows updated within the past 10 years
- Stainless steel refrigerator and dishwasher included
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
$9,658
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
5.85%
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%
$193,160
$193.2K
Cap Rate 7%
$137,971
$138.0K
Cap Rate 9%
$107,311
$107.3K
Market Conditions
NOI Build-Up for 951 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
$18.6K $19.56/SF
− Vacancy
−$1.0K −$1.10/SF
EGI
$17.6K $18.46/SF
− OpEx
−$7.9K −$8.31/SF
NOI
$9.7K $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%
$193,160
Cap Rate 7%
$137,971
Cap Rate 9%
$107,311
Alternative Uses
Best Use
Apartment 5plus
$138.0K
$120.7K – $161.0K
NOI $9,658 @ 7.0% cap · market cap 5.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$241.1K
$211.0K – $281.3K
NOI $16,879 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
193
Businesses Nearby
Explore this area
Business Placement
Demographics for 08043, NJ
31,069
Population
12,688
Households
2.4
Avg Household Size
43
Median Age
60%
College-Educated
96%
High-School Grad
11.5 sq mi
ZIP Area
2,702
Density / Sq Mi
$112,606
Median Household Income
$65,078
Median Earnings
$1,718
Median Rent
$390,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - HVAC, windows, and stainless steel kitchen appliances have been updated, while the flooring is ready for new installation.
Where is this residential income property located?
The property is located at 4105 TRACY COURT Voorhees, NJ.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: First‑floor condominium in the LaBonne Vie community; HVAC and windows updated within the past 10 years; Stainless steel refrigerator and dishwasher included
