Renovated Residential Income
New
For Sale
$340,000
46 PRISTINE PLACE #J, Sewell, NJ 08080
Updated two-bedroom condominium in a 55+ community with refreshed systems, finishes, and kitchen appointments.
Property Size1,652 SF
Price / SF$205.81
Days on Market7
Property Features for 46 PRISTINE PLACE #J
General Information
Standard status
Active
Size
1,652 SF
Property subtype
Condominium
Additional Details
Highway Access
Yes
Multifamily Units
1
Amenities
covered patio
pool
clubhouse
skylights
Building Details
Year Built
2001
Listing Agency:
BHHS Fox & Roach-Washington-Gloucester
(856) 227-8900
Listed By:
Susan L Bosnjak · License #0682096
(856) 905-0042
Source:
Cummingsrealtors
Added: Sep 14
Changed: Sep 20
Last Checked: Sep 20 at 9:26AM
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 BHHS Fox & Roach-Washington-Gloucester
Investment Insights
Based on property information with market context.
This 1,652-square-foot condominium, built in 2001, offers two bedrooms, a loft, a great room with cathedral ceiling, formal dining area, and covered patio access. Recent improvements include a new heating system, air conditioner, hot water heater, luxury vinyl plank flooring, stainless-steel kitchen appliances, quartz counters, white cabinetry, and a deep farmhouse sink. The primary suite includes a renovated private bath with a tiled walk-in shower and a walk-in closet, while the second bedroom provides two large closets.
Located in the 55+ Parke Place community, the home overlooks lawn and wooded open space. Community amenities include a pool, clubhouse, and professional landscaping, with the condominium association responsible for the exterior, land, and building. The property is near Atkinson Park, the library, Routes 55, 295, and 42, the Atlantic City Expressway, and the New Jersey Turnpike.
Located in the 55+ Parke Place community, the home overlooks lawn and wooded open space. Community amenities include a pool, clubhouse, and professional landscaping, with the condominium association responsible for the exterior, land, and building. The property is near Atkinson Park, the library, Routes 55, 295, and 42, the Atlantic City Expressway, and the New Jersey Turnpike.
Key Highlights
- 1,652‑square‑foot condominium built in 2001
- Two‑bedroom layout with an oversized loft and cathedral‑ceiling great room
- New heating system, air conditioner, and hot water heater
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
$19,309
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
5.68%
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%
$386,180
$386.2K
Cap Rate 7%
$275,843
$275.8K
Cap Rate 9%
$214,544
$214.5K
Market Conditions
NOI Build-Up for 1,652 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
$37.3K $22.56/SF
− Vacancy
−$2.2K −$1.31/SF
EGI
$35.1K $21.25/SF
− OpEx
−$15.8K −$9.56/SF
NOI
$19.3K $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%
$386,180
Cap Rate 7%
$275,843
Cap Rate 9%
$214,544
Alternative Uses
Best Use
Apartment 5plus
$275.8K
$241.4K – $321.8K
NOI $19,309 @ 7.0% cap · market cap 5.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$555.3K
$485.9K – $647.9K
NOI $38,871 @ 7.0% cap · market cap 11.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
255
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated two-bedroom condominium in a 55+ community with refreshed systems, finishes, and kitchen appointments.
Where is this residential income property located?
The property is located at 46 PRISTINE PLACE #J Sewell, NJ.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: 1,652‑square‑foot condominium built in 2001; Two‑bedroom layout with an oversized loft and cathedral‑ceiling great room; New heating system, air conditioner, and hot water heater
