One-Bedroom Residential Income
For Sale
$220,000
7320 MAPLE AVENUE Unit 231, Pennsauken, NJ 08109
Condo in a 55-and-older community with a balcony, pantry, and access to shared fitness amenities.
Property Size800 SF
Days on Market320
Property Features for 7320 MAPLE AVENUE Unit 231
General Information
Standard status
Active
Size
800 SF
Property subtype
Unit/Flat/Apartment
Building Details
Building Size
800 SF
Year Built
2007
Listing Agency:
The Roarke Agency
(609) 774-8084
Listed By:
Phyllis L Harvey · License #8838770
(609) 774-8084
Source:
Patmckennarealtors
Added: Oct 17, 2025
Changed: Aug 29
Last Checked: Aug 31 at 12:09AM
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 The Roarke Agency
Investment Insights
Based on property information with market context.
This one-bedroom condominium is located within The Maples, a 55-and-older community in Pennsauken. The residence includes a spacious kitchen with pantry storage, an adjoining laundry room, and a combined living and dining area. A generously sized balcony accommodates outdoor seating, while the bedroom provides additional living space. The unit may be purchased furnished or cleared out, subject to the buyer’s preference.
Community amenities include a first-level common area with a kitchenette and fitness room. The property is offered strictly as-is, and the buyer is responsible for obtaining any certifications required for occupancy. A tax abatement is in place; current terms and remaining duration require confirmation with Pennsauken Township. The property is also eligible for an Affordable Housing Program, with stated program requirements including a minimum credit score of 580 and no mortgage insurance requirement. Closing is expected to take 3-4 months.
Community amenities include a first-level common area with a kitchenette and fitness room. The property is offered strictly as-is, and the buyer is responsible for obtaining any certifications required for occupancy. A tax abatement is in place; current terms and remaining duration require confirmation with Pennsauken Township. The property is also eligible for an Affordable Housing Program, with stated program requirements including a minimum credit score of 580 and no mortgage insurance requirement. Closing is expected to take 3-4 months.
Key Highlights
- One‑bedroom condo in The Maples, a 55‑and‑older community
- Spacious kitchen with pantry and adjacent laundry room
- Balcony large enough for a table and chairs
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
$8,124
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
3.69%
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%
$162,480
$162.5K
Cap Rate 7%
$116,057
$116.1K
Cap Rate 9%
$90,267
$90.3K
Market Conditions
NOI Build-Up for 800 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
$15.6K $19.56/SF
− Vacancy
−$876 −$1.10/SF
EGI
$14.8K $18.46/SF
− OpEx
−$6.6K −$8.31/SF
NOI
$8.1K $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%
$162,480
Cap Rate 7%
$116,057
Cap Rate 9%
$90,267
Alternative Uses
Best Use
Apartment 5plus
$116.1K
$101.6K – $135.4K
NOI $8,124 @ 7.0% cap · market cap 3.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$202.8K
$177.5K – $236.7K
NOI $14,199 @ 7.0% cap · market cap 6.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
596
Businesses Nearby
Explore this area
Business Placement
Demographics for 08109, NJ
23,306
Population
9,314
Households
2.5
Avg Household Size
41
Median Age
27%
College-Educated
86%
High-School Grad
4.8 sq mi
ZIP Area
4,855
Density / Sq Mi
$84,332
Median Household Income
$44,288
Median Earnings
$1,142
Median Rent
$227,200
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Condo in a 55-and-older community with a balcony, pantry, and access to shared fitness amenities.
Where is this residential income property located?
The property is located at 7320 MAPLE AVENUE Unit 231 Pennsauken, NJ.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: One‑bedroom condo in The Maples, a 55‑and‑older community; Spacious kitchen with pantry and adjacent laundry room; Balcony large enough for a table and chairs
