Six-Unit Apartment
For Sale
$850,000
443 LANDING Street, Lumberton, NJ 08048
Multi-Family, LUMBERTON, NJ
Property Size4,363 SF
Lot Size0.83 Acres
Price / SF$194.82
Days on Market234
Property Features for 443 LANDING Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
Parking Lot
Elementary school
F L WALTHER
Middle school
LUMBERTON
Elementary school district
LUMBERTON TOWNSHIP PUBLIC SCHOOLS
Middle school district
LUMBERTON TOWNSHIP PUBLIC SCHOOLS
High school district
LUMBERTON TOWNSHIP PUBLIC SCHOOLS
Standard status
Active
Size
4,363 SF
Lot size
0.83 Acres
Taxes and HOA fees
Tax Annual Amount
12125
Utilities
Heating system
Forced Air
Cooling system
Central Air, Wall Unit(s)
Building Details
Year built
1915
Number of units
4
Listing Agency:
Keller Williams Realty - Moorestown
(856) 316-1100
Listed By:
Samuel N Lepore · License #791411
(856) 297-6827
Added: Jan 21
Changed: Sep 4
Last Checked: Sep 12 at 12:06AM
MLS# NJBL2103940
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This six-unit apartment building at 443 Landing Street includes two 2-bedroom units, two 1-bedroom units, and two studio apartments. The property contains 4,363 square feet on a 0.83-acre lot, with a parking lot, forced-air heating, and a combination of central air and wall-unit cooling. Built in 1915, the building also includes a basement.
The property overlooks the Rancocas Creek and is located in Lumberton, Burlington County, New Jersey. Its varied apartment configuration provides a mix of studio, one-bedroom, and two-bedroom layouts within a single multifamily asset.
The property overlooks the Rancocas Creek and is located in Lumberton, Burlington County, New Jersey. Its varied apartment configuration provides a mix of studio, one-bedroom, and two-bedroom layouts within a single multifamily asset.
Key Highlights
- Six total units: two 2‑bedroom, two 1‑bedroom, and two studio apartments
- 4,363‑square‑foot apartment building on 0.83 acres
- Views overlooking the Rancocas Creek
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
$57,145
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
6.72%
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%
$1,142,900
$1.1M
Cap Rate 7%
$816,357
$816.4K
Cap Rate 9%
$634,944
$634.9K
Market Conditions
NOI Build-Up for 4,363 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
$109.9K $25.20/SF
− Vacancy
−$6.0K −$1.39/SF
EGI
$103.9K $23.81/SF
− OpEx
−$46.8K −$10.72/SF
NOI
$57.1K $13.10/SF
Area
Burlington County, NJ
Vacancy
5.50%
Lease Rate
$25.20 /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%
$1,142,900
Cap Rate 7%
$816,357
Cap Rate 9%
$634,944
Alternative Uses
Best Use
Apartment 5plus
$816.4K
$714.3K – $952.4K
NOI $57,145 @ 7.0% cap · market cap 6.72%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$9.13M
$7.98M – $10.65M
NOI $638,759 @ 7.0% cap · market cap 75.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
104
Businesses Nearby
Explore this area
Business Placement
Demographics for 08048, NJ
12,782
Population
5,024
Households
2.5
Avg Household Size
41
Median Age
42%
College-Educated
94%
High-School Grad
12.1 sq mi
ZIP Area
1,056
Density / Sq Mi
$111,739
Median Household Income
$58,097
Median Earnings
$1,667
Median Rent
$414,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Unit mix includes studios, one-bedroom, and two-bedroom apartments with creek views and on-site parking.
Where is this apartment building located?
The property is located at 443 LANDING Street Lumberton, NJ.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Six total units: two 2‑bedroom, two 1‑bedroom, and two studio apartments; 4,363‑square‑foot apartment building on 0.83 acres; Views overlooking the Rancocas Creek
