Updated First-Floor Residential
New
For Sale
$237,500
42 BRIDGEWATER DRIVE, Marlton, NJ 08053
Updated condo with quartz kitchen finishes, open living areas, covered patio, and in-unit laundry.
Property Size788 SF
Days on Market6
Property Features for 42 BRIDGEWATER DRIVE
General Information
Standard status
Active
Size
788 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$4,640
Building Details
Building Size
788 SF
Year Built
1988
Listing Agency:
Compass New Jersey, LLC - Haddon Township
Listed By:
Jennifer J Rothenberger · License #1752998
(856) 322-2964
Source:
Patmckennarealtors
Added: Sep 20
Changed: Sep 23
Last Checked: Sep 24 at 5:02PM
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.
This first-floor condo at 42 Bridgewater Drive offers an updated interior with white shaker cabinetry, quartz countertops, and modern kitchen finishes. Luxury vinyl plank flooring extends through the living areas, while the open living and dining arrangement benefits from abundant natural light. The primary bedroom includes a walk-in closet, and an in-unit washer and dryer add everyday convenience. A private covered patio provides an outdoor extension of the residence.
The property is within the Kings Grant community and its Oak Hollow section. Community features include nearly 400 acres of private open space, wooded trails, lakes, ponds, a beach and swimming area, boating, fishing, a pool, tennis courts, a clubhouse, biking trails, and a community golf course. A shopping center is located within the community, while The Promenade at Sagemore is three miles away.
Rice Elementary is 0.25 miles from the property, with Marlton Middle School and Cherokee High School approximately 2 miles away. The condo was built in 1988.
The property is within the Kings Grant community and its Oak Hollow section. Community features include nearly 400 acres of private open space, wooded trails, lakes, ponds, a beach and swimming area, boating, fishing, a pool, tennis courts, a clubhouse, biking trails, and a community golf course. A shopping center is located within the community, while The Promenade at Sagemore is three miles away.
Rice Elementary is 0.25 miles from the property, with Marlton Middle School and Cherokee High School approximately 2 miles away. The condo was built in 1988.
Key Highlights
- First‑floor condo with updated kitchen finishes
- White shaker cabinets and quartz countertops
- Open living and dining area with abundant natural light
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
$8,003
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
3.37%
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%
$160,060
$160.1K
Cap Rate 7%
$114,329
$114.3K
Cap Rate 9%
$88,922
$88.9K
Market Conditions
NOI Build-Up for 788 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
$15.4K $19.56/SF
− Vacancy
−$863 −$1.10/SF
EGI
$14.6K $18.46/SF
− OpEx
−$6.5K −$8.31/SF
NOI
$8.0K $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%
$160,060
Cap Rate 7%
$114,329
Cap Rate 9%
$88,922
Alternative Uses
Best Use
Apartment 5plus
$114.3K
$100.0K – $133.4K
NOI $8,003 @ 7.0% cap · market cap 3.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$199.8K
$174.8K – $233.1K
NOI $13,986 @ 7.0% cap · market cap 5.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
82
Businesses Nearby
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Business Placement
Demographics for 08053, NJ
46,826
Population
20,090
Households
2.3
Avg Household Size
43
Median Age
53%
College-Educated
98%
High-School Grad
29.2 sq mi
ZIP Area
1,604
Density / Sq Mi
$116,745
Median Household Income
$67,439
Median Earnings
$1,939
Median Rent
$368,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condo with quartz kitchen finishes, open living areas, covered patio, and in-unit laundry.
Where is this residential income property located?
The property is located at 42 BRIDGEWATER DRIVE Marlton, NJ.
What is the asking price?
The asking price for this property is $237,500.
What are key features of this property?
This property features: First‑floor condo with updated kitchen finishes; White shaker cabinets and quartz countertops; Open living and dining area with abundant natural light
