Residential Income
For Sale
$335,000
86 PELICAN PLACE, West Deptford, NJ 08086
Upper-level two-bedroom, two-bath condo with a balcony, high ceilings, and an open, light-filled layout in Pelican Place at Riverwinds.
Days on Market20
Property Features for 86 PELICAN PLACE
General Information
Standard status
Active
Property subtype
Unit/Flat/Apartment
Building Details
Building Size
1,612 SF
Year Built
2004
Listing Agency:
Century 21 Alliance - Mantua
(856) 278-6142
Listed By:
Jitka McCabe · License #674308
(856) 278-6142
Source:
Patmckennarealtors
Added: Jul 13
Changed: Jul 30
Last Checked: Aug 1 at 10:40AM
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 Alliance - Mantua
Investment Insights
Based on property information with market context.
Upper-level condo in Pelican Place at Riverwinds with two bedrooms and two bathrooms. Entry begins at a lower-level foyer with a coat closet and a large under-stairs storage area. The staircase to the upper level includes a chair lift. The home features high 9 ft ceilings and an open floorplan with lots of natural light. The kitchen offers 42-inch hardwood cabinetry, granite countertops, tile backsplash and tile floors, stainless steel appliances, and LED recessed lighting with a breakfast nook. A den/office sits adjacent to the main living space, along with a formal dining room and living room details including crown molding. The primary suite includes a walk-in closet and a private bath with a newer luxury bath shower, and the second bedroom offers a walk-in closet. Both bathrooms have ceramic tile flooring and upgraded higher toilets. A laundry room with cabinetry and an additional large storage room completes the interior.
An expanded glass sliding door opens to a large balcony with new outdoor carpet, ceiling fans in all rooms including the balcony, and views described as mature trees. A Train A/C unit was installed 4 years ago, and the heater was rebuilt at the same time; an air scrubber was added for allergies. The association recently replaced the roof and gutters (about 5 years ago).
Riverwinds amenities noted include an indoor pool, fitness facility, tennis courts, golf course, fine dining restaurant, and outdoor venue, with a nature trail within walking distance.
An expanded glass sliding door opens to a large balcony with new outdoor carpet, ceiling fans in all rooms including the balcony, and views described as mature trees. A Train A/C unit was installed 4 years ago, and the heater was rebuilt at the same time; an air scrubber was added for allergies. The association recently replaced the roof and gutters (about 5 years ago).
Riverwinds amenities noted include an indoor pool, fitness facility, tennis courts, golf course, fine dining restaurant, and outdoor venue, with a nature trail within walking distance.
Key Highlights
- Upper‑level two‑bedroom, two‑bath condo with high 9 ft ceilings and an open floorplan
- Chair lift on the staircase to the upper level plus large under‑stairs storage
- Kitchen with 42‑inch hardwood cabinetry, granite countertops, tile backsplash, and stainless steel appliances
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $36.4k | $22.56 |
| − Vacancy | −$2.1k | −$1.31 |
| EGI | $34.3k | $21.25 |
| − OpEx | −$15.4k | −$9.56 |
| NOI | $18.8k | $11.69 |
1,612 SF · lease $22.56/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$269.2K
$235.5K – $314.0K
NOI $18,842 @ 7.0% cap · market cap 5.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$541.9K
$474.1K – $632.2K
NOI $37,930 @ 7.0% cap · market cap 11.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
186
Businesses Nearby
Explore this area
Business Placement
Demographics for 08086, NJ
8,358
Population
3,950
Households
2.1
Avg Household Size
45
Median Age
31%
College-Educated
94%
High-School Grad
7.0 sq mi
ZIP Area
1,194
Density / Sq Mi
$88,125
Median Household Income
$52,146
Median Earnings
$1,689
Median Rent
$258,800
Median Home Value
Market
Properties on Market for Residential income properties in Gloucester County
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Frequently Asked Questions
What type of property is this?
Residential income property - Upper-level two-bedroom, two-bath condo with a balcony, high ceilings, and an open, light-filled layout in Pelican Place at Riverwinds.
Where is this residential income property located?
The property is located at 86 PELICAN PLACE West Deptford, NJ.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: Upper‑level two‑bedroom, two‑bath condo with high 9 ft ceilings and an open floorplan; Chair lift on the staircase to the upper level plus large under‑stairs storage; Kitchen with 42‑inch hardwood cabinetry, granite countertops, tile backsplash, and stainless steel appliances
