One-Bedroom Condominium with
For Sale
$295,000
Pending
801 GINGER COURT, Mount Laurel, NJ 08054
Features fresh interior paint, newer windows, and updates to the kitchen and bathroom.
Property Size1,133 SF
Days on Market65
Property Features for 801 GINGER COURT
General Information
Standard status
Pending
Size
1,133 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,056
Building Details
Building Size
1,133 SF
Year Built
1993
Listing Agency:
RE/MAX ONE Realty-Moorestown
Listed By:
Linda Burke · License #8441506
(609) 320-0112
Source:
Patmckennarealtors
Added: Jul 10
Changed: Sep 10
Last Checked: Sep 11 at 3:29PM
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 RE/MAX ONE Realty-Moorestown
Investment Insights
Based on property information with market context.
Built in 1993, this condominium offers a one-bedroom ranch-style layout within a 1-1/2-story design. An open loft adds flexible interior space, although it is not fully enclosed. Recent improvements include fresh paint throughout, new carpeting leading to the loft, newer windows, and an updated kitchen and bathroom. The stove/oven and microwave were installed last week, and the property has been professionally cleaned. The residence is located at 801 Ginger Court in Mount Laurel, New Jersey.
Key Highlights
- One‑bedroom condominium with an open loft
- 1‑1/2‑story layout with ranch‑style configuration
- Fresh interior paint and newly installed loft carpeting
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
$14,840
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
5.03%
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%
$296,800
$296.8K
Cap Rate 7%
$212,000
$212.0K
Cap Rate 9%
$164,889
$164.9K
Market Conditions
NOI Build-Up for 1,133 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
$27.0K $23.81/SF
− OpEx
−$12.1K −$10.72/SF
NOI
$14.8K $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%
$296,800
Cap Rate 7%
$212,000
Cap Rate 9%
$164,889
Alternative Uses
Best Use
Apartment 5plus
$212.0K
$185.5K – $247.3K
NOI $14,840 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.37M
$2.07M – $2.76M
NOI $165,875 @ 7.0% cap · market cap 56.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
137
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Features fresh interior paint, newer windows, and updates to the kitchen and bathroom.
Where is this residential income property located?
The property is located at 801 GINGER COURT Mount Laurel, NJ.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: One‑bedroom condominium with an open loft; 1‑1/2‑story layout with ranch‑style configuration; Fresh interior paint and newly installed loft carpeting
