Two-Bedroom Residential Income
New
For Sale
$317,500
501 GINGER DRIVE, Mount Laurel, NJ 08054
A stair-free floor plan pairs a sunroom with a separate dining area and an eat-in kitchen.
Property Size1,220 SF
Price / SF$260.25
Days on Market7
Property Features for 501 GINGER DRIVE
General Information
Standard status
Active
Size
1,220 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,254
Amenities
clubhouse
outdoor pool
pickleball courts
tennis courts
Building Details
Building Size
1,220 SF
Year Built
1991
Listing Agency:
Imani Realty & Associates
Listed By:
Michele Jackson · License #226605
(609) 668-0280
Source:
Patmckennarealtors
Added: Oct 16
Changed: Oct 21
Last Checked: Oct 21 at 2:42AM
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 Imani Realty & Associates
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,220-square-foot residence has two bedrooms and two bathrooms, with a single-level layout and no stairs. The living room features crown molding and a gas fireplace, and connects to a sunroom or sitting area. A separate dining room leads to the eat-in kitchen, which includes a full appliance package and butler’s pantry. Built in 1991, the home also has assigned parking.
The adult community offers a clubhouse, outdoor pool, pickleball courts, and tennis courts. Visitor parking is available a short walk from the front door.
The adult community offers a clubhouse, outdoor pool, pickleball courts, and tennis courts. Visitor parking is available a short walk from the front door.
Key Highlights
- 1,220 square feet with 2 bedrooms and 2 bathrooms
- Single‑level layout with no stairs
- Living room with crown molding, gas fireplace, and adjoining sunroom or sitting area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,979
Cap Rate
5.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$319,580
$319.6K
Cap Rate 7%
$228,271
$228.3K
Cap Rate 9%
$177,544
$177.5K
Market Conditions
NOI Build-Up for 1,220 SF
Gross rent
$30.7K $25.20/SF
− Vacancy
−$1.7K −$1.39/SF
EGI
$29.1K $23.81/SF
− OpEx
−$13.1K −$10.72/SF
NOI
$16.0K $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 Rate 5%
$319,580
Cap Rate 7%
$228,271
Cap Rate 9%
$177,544
Alternative Uses
Best Use
Apartment 5plus
$228.3K
$199.7K – $266.3K
NOI $15,979 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.55M
$2.23M – $2.98M
NOI $178,612 @ 7.0% cap · market cap 56.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
116
Businesses Nearby
Explore this area
Business Placement
Demographics for 08054, NJ
44,633
Population
19,966
Households
2.2
Avg Household Size
44
Median Age
56%
College-Educated
96%
High-School Grad
21.7 sq mi
ZIP Area
2,057
Density / Sq Mi
$114,629
Median Household Income
$67,986
Median Earnings
$1,966
Median Rent
$341,400
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - A stair-free floor plan pairs a sunroom with a separate dining area and an eat-in kitchen.
Where is this residential income property located?
The property is located at 501 GINGER DRIVE Mount Laurel, NJ.
What is the asking price?
The asking price for this property is $317,500.
What are key features of this property?
This property features: 1,220 square feet with 2 bedrooms and 2 bathrooms; Single‑level layout with no stairs; Living room with crown molding, gas fireplace, and adjoining sunroom or sitting area
