Two-Bedroom Residential Income
For Sale
$304,900
5207A KIPPEN PLACE, Mount Laurel, NJ 08054
Single-level condominium with updated HVAC, private patio, and in-unit laundry.
Property Size1,136 SF
Days on Market9
Property Features for 5207A KIPPEN PLACE
General Information
Standard status
Active
Size
1,136 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,621
Amenities
in-unit laundry
patio
walking paths
Building Details
Building Size
1,136 SF
Year Built
1990
Listing Agency:
Sabal Real Estate
(856) 872-4100
Listed By:
Jenifer Raffa · License #0453407
(856) 872-4100
Source:
Patmckennarealtors
Added: Aug 1
Changed: Aug 8
Last Checked: Aug 8 at 9:05AM
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 Sabal Real Estate
Investment Insights
Based on property information with market context.
This 2-bedroom, 2-bath condominium provides one-level living with an open living and dining area, a separate kitchen with substantial cabinet and counter space, and a patio connection. The primary bedroom includes a private full bath and generous closet, while the second bedroom is paired with another full bath. In-unit laundry, abundant storage, neutral finishes, and an updated HVAC system and hot water heater add practical functionality. Built in 1990.
The Lakes community features lake and pond surroundings, mature landscaping, walking paths, association amenities, and exterior maintenance. The Mount Laurel setting offers access to Routes 38, 73, and 70, I-295, and NJ Turnpike Exit 4, with nearby shopping and dining at Moorestown Mall, East Gate Square, Centerton Square, and Rancocas Woods. Laurel Acres Park, area golf courses, and Virtua and Cooper medical facilities are also nearby.
The Lakes community features lake and pond surroundings, mature landscaping, walking paths, association amenities, and exterior maintenance. The Mount Laurel setting offers access to Routes 38, 73, and 70, I-295, and NJ Turnpike Exit 4, with nearby shopping and dining at Moorestown Mall, East Gate Square, Centerton Square, and Rancocas Woods. Laurel Acres Park, area golf courses, and Virtua and Cooper medical facilities are also nearby.
Key Highlights
- 2‑bedroom, 2‑bath condominium with one‑level layout
- Updated HVAC system and hot water heater
- Primary suite with private full bath and generous 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
$14,879
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
4.88%
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%
$297,580
$297.6K
Cap Rate 7%
$212,557
$212.6K
Cap Rate 9%
$165,322
$165.3K
Market Conditions
NOI Build-Up for 1,136 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
$28.6K $25.20/SF
− Vacancy
−$1.6K −$1.39/SF
EGI
$27.1K $23.81/SF
− OpEx
−$12.2K −$10.72/SF
NOI
$14.9K $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%
$297,580
Cap Rate 7%
$212,557
Cap Rate 9%
$165,322
Alternative Uses
Best Use
Apartment 5plus
$212.6K
$186.0K – $248.0K
NOI $14,879 @ 7.0% cap · market cap 4.88%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.38M
$2.08M – $2.77M
NOI $166,315 @ 7.0% cap · market cap 54.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
66
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Single-level condominium with updated HVAC, private patio, and in-unit laundry.
Where is this residential income property located?
The property is located at 5207A KIPPEN PLACE Mount Laurel, NJ.
What is the asking price?
The asking price for this property is $304,900.
What are key features of this property?
This property features: 2‑bedroom, 2‑bath condominium with one‑level layout; Updated HVAC system and hot water heater; Primary suite with private full bath and generous closet
