Updated Residential Income
New
For Sale
$469,900
8304 TAMARRON DRIVE, Plainsboro, NJ 08536
Two-bedroom condominium with loft, private balcony, updated finishes, and a new HVAC system.
Property Size1,263 SF
Price / SF$372.05
Days on Market6
Property Features for 8304 TAMARRON DRIVE
General Information
Standard status
Active
Size
1,263 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Amenities
private balcony
in-unit laundry
Building Details
Year Built
1986
Listing Agency:
Century 21 Abrams & Associates, Inc.
Listed By:
Richard J. Abrams · License #7942045
(609) 750-7300
Source:
Cummingsrealtors
Added: Sep 16
Changed: Sep 20
Last Checked: Sep 20 at 9:06AM
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 1,263-square-foot condominium includes 2 bedrooms, 2 bathrooms, and a loft that expands the usable living area. The interior was refreshed in 2026 with new paint, laminate flooring in the family and dining rooms, ceramic tile in the kitchen, granite countertops, stainless-steel appliances, and updated cabinetry hardware. A new electric range was also installed. The family room opens to a private balcony, while the primary bedroom includes a generously sized closet.
Recent mechanical and interior improvements include a new HVAC system with a heat pump and air handler, supported by a 10-year warranty covering parts, labor, and travel. Additional work includes new blinds, a custom oversized sliding-door treatment, updated bathroom fixtures, refreshed closet shelving, custom mirror frames, and a reorganized laundry area with new shelving. Professional duct inspection, treatment, and cleaning have also been completed. The property was built in 1986 and is offered for sale As-Is.
Recent mechanical and interior improvements include a new HVAC system with a heat pump and air handler, supported by a 10-year warranty covering parts, labor, and travel. Additional work includes new blinds, a custom oversized sliding-door treatment, updated bathroom fixtures, refreshed closet shelving, custom mirror frames, and a reorganized laundry area with new shelving. Professional duct inspection, treatment, and cleaning have also been completed. The property was built in 1986 and is offered for sale As-Is.
Key Highlights
- 1,263‑square‑foot condominium with 2 bedrooms, 2 bathrooms, and a spacious loft
- 2026 interior refresh includes new paint, flooring, fixtures, and kitchen updates
- New HVAC system with heat pump and air handler, backed by a 10‑year warranty
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
$19,422
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
4.13%
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%
$388,440
$388.4K
Cap Rate 7%
$277,457
$277.5K
Cap Rate 9%
$215,800
$215.8K
Market Conditions
NOI Build-Up for 1,263 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
$37.9K $30.00/SF
− Vacancy
−$2.6K −$2.04/SF
EGI
$35.3K $27.96/SF
− OpEx
−$15.9K −$12.58/SF
NOI
$19.4K $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%
$388,440
Cap Rate 7%
$277,457
Cap Rate 9%
$215,800
Alternative Uses
Best Use
Apartment 5plus
$277.5K
$242.8K – $323.7K
NOI $19,422 @ 7.0% cap · market cap 4.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$329.8K
$288.6K – $384.8K
NOI $23,086 @ 7.0% cap · market cap 4.91%
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
383
Businesses Nearby
Explore this area
Business Placement
Demographics for 08536, NJ
20,682
Population
8,894
Households
2.3
Avg Household Size
36
Median Age
79%
College-Educated
98%
High-School Grad
7.5 sq mi
ZIP Area
2,758
Density / Sq Mi
$128,426
Median Household Income
$94,896
Median Earnings
$1,908
Median Rent
$655,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium with loft, private balcony, updated finishes, and a new HVAC system.
Where is this residential income property located?
The property is located at 8304 TAMARRON DRIVE Plainsboro, NJ.
What is the asking price?
The asking price for this property is $469,900.
What are key features of this property?
This property features: 1,263‑square‑foot condominium with 2 bedrooms, 2 bathrooms, and a spacious loft; 2026 interior refresh includes new paint, flooring, fixtures, and kitchen updates; New HVAC system with heat pump and air handler, backed by a 10‑year warranty
