Ground-Level Residential Income
New
For Sale
$240,000
45 BRIDGEWATER DRIVE, Marlton, NJ 08053
The end-unit condo has two bedrooms, a private rear patio, and direct access without stairs.
Property Size788 SF
Price / SF$304.57
Days on Market4
Property Features for 45 BRIDGEWATER DRIVE
General Information
Standard status
Active
Size
788 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,640
Amenities
tennis courts
basketball courts
volleyball courts
community pool
scenic trails
community beach
in-unit laundry
private patio
storage closet
Building Details
Building Size
788 SF
Year Built
1988
Listing Agency:
Compass New Jersey, LLC - Moorestown
Listed By:
Jennifer Lynn Probst
(609) 504-5538
Source:
Brucerealty
Added: Sep 22
Changed: Sep 25
Last Checked: Sep 24 at 2:07PM
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 - Moorestown
Investment Insights
Based on property information with market context.
This ground-floor, end-unit condo contains 788 square feet, with two bedrooms and one full bathroom. The living and dining areas have laminate flooring, while the kitchen includes tile floors, a tile backsplash, stainless steel appliances, a pantry closet, and a breakfast bar. A walk-in closet is located in the primary bedroom, which opens through sliding doors to a private rear patio with an additional storage closet. The home also has in-unit laundry with a washer and dryer. Built in 1988, the unit is accessed without stairs.
Community amenities include a pool, tennis, basketball, and volleyball courts, as well as a beach and trails. The patio borders wooded land, and Black Run Preserve is nearby. Shopping centers and dining options are described as minutes away.
Community amenities include a pool, tennis, basketball, and volleyball courts, as well as a beach and trails. The patio borders wooded land, and Black Run Preserve is nearby. Shopping centers and dining options are described as minutes away.
Key Highlights
- 788‑square‑foot end‑unit condo with two bedrooms and one full bathroom
- Ground‑level access with no stairs
- Private rear patio borders wooded land and includes a storage closet
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
3.33%
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 3.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$199.8K
$174.8K – $233.1K
NOI $13,986 @ 7.0% cap · market cap 5.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
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 - The end-unit condo has two bedrooms, a private rear patio, and direct access without stairs.
Where is this residential income property located?
The property is located at 45 BRIDGEWATER DRIVE Marlton, NJ.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: 788‑square‑foot end‑unit condo with two bedrooms and one full bathroom; Ground‑level access with no stairs; Private rear patio borders wooded land and includes a storage closet
