Updated Residential Income
For Sale
$379,900
7493 ELM COURT, Monmouth Junction, NJ 08852
Light-filled condo with an open living area, private balcony, fireplace, and refreshed kitchen finishes.
Property Size1,160 SF
Price / SF$327.50
Days on Market51
Property Features for 7493 ELM COURT
General Information
Standard status
Active
Size
1,160 SF
Property subtype
Apartment
Building Details
Year Built
1984
Listing Agency:
Century 21 Abrams & Associates, Inc.
Listed By:
Richard J. Abrams · License #7942045
(609) 750-7300
Source:
Cummingsrealtors
Added: Sep 2
Changed: Oct 21
Last Checked: Oct 20 at 10:30PM
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 Century 21 Abrams & Associates, Inc.
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Investment Insights
Based on property information with market context.
This Oak model condo offers 1,160 square feet with two bedrooms and two baths. The interior has been freshly painted and includes an open-concept main living area, cathedral ceiling, recessed lighting, and LVP flooring. The updated kitchen features new cabinetry, granite countertops, and stainless steel appliances, while both bedrooms have laminate flooring. A wood-burning fireplace with a slate surround and decorative tile provides a defined focal point in the living space.
The primary bedroom and kitchen both open to a private balcony. Building systems include a 4-year-old HVAC system and a 6-year-old hot water heater. Constructed in 1984, the residence is located at 7493 Elm Court in Monmouth Junction, New Jersey.
The primary bedroom and kitchen both open to a private balcony. Building systems include a 4-year-old HVAC system and a 6-year-old hot water heater. Constructed in 1984, the residence is located at 7493 Elm Court in Monmouth Junction, New Jersey.
Key Highlights
- Two‑bedroom, two‑bath Oak model condo with 1,160 square feet
- Updated kitchen with new cabinetry, granite countertops, and stainless steel appliances
- Cathedral ceiling, recessed lighting, and open‑concept main living area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,838
Cap Rate
4.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$356,760
$356.8K
Cap Rate 7%
$254,829
$254.8K
Cap Rate 9%
$198,200
$198.2K
Market Conditions
NOI Build-Up for 1,160 SF
Gross rent
$34.8K $30.00/SF
− Vacancy
−$2.4K −$2.04/SF
EGI
$32.4K $27.96/SF
− OpEx
−$14.6K −$12.58/SF
NOI
$17.8K $15.38/SF
Area
Middlesex County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$356,760
Cap Rate 7%
$254,829
Cap Rate 9%
$198,200
Alternative Uses
Best Use
Apartment 5plus
$254.8K
$223.0K – $297.3K
NOI $17,838 @ 7.0% cap · market cap 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$302.9K
$265.0K – $353.4K
NOI $21,203 @ 7.0% cap · market cap 5.58%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
152
Businesses Nearby
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Business Placement
Demographics for 08852, NJ
18,956
Population
6,721
Households
2.8
Avg Household Size
39
Median Age
65%
College-Educated
94%
High-School Grad
13.3 sq mi
ZIP Area
1,425
Density / Sq Mi
$121,771
Median Household Income
$72,679
Median Earnings
$1,897
Median Rent
$489,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Light-filled condo with an open living area, private balcony, fireplace, and refreshed kitchen finishes.
Where is this residential income property located?
The property is located at 7493 ELM COURT Monmouth Junction, NJ.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Two‑bedroom, two‑bath Oak model condo with 1,160 square feet; Updated kitchen with new cabinetry, granite countertops, and stainless steel appliances; Cathedral ceiling, recessed lighting, and open‑concept main living area
