Two-Bedroom 55+ Community
For Sale
$339,900
48 PELICAN PLACE, West Deptford, NJ 08086
Upper-floor home features an open living and dining area, a covered balcony, and wooded views.
Property Size1,592 SF
Days on Market8
Property Features for 48 PELICAN PLACE
General Information
Standard status
Active
Size
1,592 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$10,664
Building Details
Building Size
1,592 SF
Year Built
2005
Listing Agency:
BHHS Fox & Roach-Washington-Gloucester
Listed By:
Angie Kovalak · License #900924
(856) 885-0818
Source:
Patmckennarealtors
Added: Sep 25
Changed: Sep 29
Last Checked: Oct 1 at 7:01PM
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.
Set within a 55+ community, this upper-floor residence has two bedrooms and two full bathrooms. The kitchen, with tile backsplash and ample cabinetry, opens to the living and dining areas. A separate sitting area is positioned just beyond the kitchen. The primary bedroom includes an en suite bathroom with a walk-in shower, while the second bedroom offers additional space within the home.
Sliding glass doors connect the interior to a covered balcony overlooking a wooded setting. Built in 2005, the property is located in West Deptford, New Jersey.
Sliding glass doors connect the interior to a covered balcony overlooking a wooded setting. Built in 2005, the property is located in West Deptford, New Jersey.
Key Highlights
- Two bedrooms and two full bathrooms
- Upper‑floor residence in a 55+ community
- Kitchen with tile backsplash and ample cabinetry
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
$18,608
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
5.47%
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%
$372,160
$372.2K
Cap Rate 7%
$265,829
$265.8K
Cap Rate 9%
$206,756
$206.8K
Market Conditions
NOI Build-Up for 1,592 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
$35.9K $22.56/SF
− Vacancy
−$2.1K −$1.31/SF
EGI
$33.8K $21.25/SF
− OpEx
−$15.2K −$9.56/SF
NOI
$18.6K $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%
$372,160
Cap Rate 7%
$265,829
Cap Rate 9%
$206,756
Alternative Uses
Best Use
Apartment 5plus
$265.8K
$232.6K – $310.1K
NOI $18,608 @ 7.0% cap · market cap 5.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$535.1K
$468.2K – $624.3K
NOI $37,459 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
186
Businesses Nearby
Explore this area
Business Placement
Demographics for 08086, NJ
8,358
Population
3,950
Households
2.1
Avg Household Size
45
Median Age
31%
College-Educated
94%
High-School Grad
7.0 sq mi
ZIP Area
1,194
Density / Sq Mi
$88,125
Median Household Income
$52,146
Median Earnings
$1,689
Median Rent
$258,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Upper-floor home features an open living and dining area, a covered balcony, and wooded views.
Where is this residential income property located?
The property is located at 48 PELICAN PLACE West Deptford, NJ.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: Two bedrooms and two full bathrooms; Upper‑floor residence in a 55+ community; Kitchen with tile backsplash and ample cabinetry
