Two-Bedroom Residential Income
New
For Sale
$299,900
83 BRIDGEWATER DRIVE, Marlton, NJ 08053
Second-floor condominium with updated interiors, two bathrooms, and vaulted ceilings.
Property Size1,112 SF
Days on Market6
Property Features for 83 BRIDGEWATER DRIVE
General Information
Standard status
Active
Size
1,112 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,636
Building Details
Building Size
1,112 SF
Year Built
1987
Listing Agency:
EXP Realty, LLC
Listed By:
Nicholas Versaggi · License #1974133
(609) 668-9049
Source:
Patmckennarealtors
Added: Sep 15
Changed: Sep 18
Last Checked: Sep 19 at 10:37AM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This second-floor condominium was built in 1987 and offers a two-bedroom, two-bathroom layout. Interior improvements include a new kitchen, upgraded bathrooms, and LVP flooring, while soaring ceilings add volume to the living spaces.
Key Highlights
- Two‑bedroom, two‑bathroom condominium
- Second‑floor location
- New kitchen
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
$11,293
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
3.77%
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%
$225,860
$225.9K
Cap Rate 7%
$161,329
$161.3K
Cap Rate 9%
$125,478
$125.5K
Market Conditions
NOI Build-Up for 1,112 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
$21.8K $19.56/SF
− Vacancy
−$1.2K −$1.10/SF
EGI
$20.5K $18.46/SF
− OpEx
−$9.2K −$8.31/SF
NOI
$11.3K $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%
$225,860
Cap Rate 7%
$161,329
Cap Rate 9%
$125,478
Alternative Uses
Best Use
Apartment 5plus
$161.3K
$141.2K – $188.2K
NOI $11,293 @ 7.0% cap · market cap 3.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$282.0K
$246.7K – $329.0K
NOI $19,737 @ 7.0% cap · market cap 6.58%
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
82
Businesses Nearby
Explore this area
Business Placement
Demographics for 08053, NJ
46,826
Population
20,090
Households
2.3
Avg Household Size
43
Median Age
53%
College-Educated
98%
High-School Grad
29.2 sq mi
ZIP Area
1,604
Density / Sq Mi
$116,745
Median Household Income
$67,439
Median Earnings
$1,939
Median Rent
$368,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Second-floor condominium with updated interiors, two bathrooms, and vaulted ceilings.
Where is this residential income property located?
The property is located at 83 BRIDGEWATER DRIVE Marlton, NJ.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two‑bedroom, two‑bathroom condominium; Second‑floor location; New kitchen
