Updated Residential Income
New
For Sale
$399,900
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$344.74
Days on Market5
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 1
Changed: Sep 4
Last Checked: Sep 5 at 6:55AM
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.
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 = 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
$17,838
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
4.46%
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%
$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
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
$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 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%
$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 4.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$302.9K
$265.0K – $353.4K
NOI $21,203 @ 7.0% cap · market cap 5.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
152
Businesses Nearby
Explore this area
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
Questions? Ask Rey
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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 $399,900.
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
