Residential Income Property with
For Sale
$345,000
9 PELICAN PLACE, West Deptford, NJ 08086
The ground-floor condominium includes two bedrooms and two full bathrooms.
Property Size1,512 SF
Days on Market8
Property Features for 9 PELICAN PLACE
General Information
Standard status
Active
Size
1,512 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$6,195
Building Details
Building Size
1,512 SF
Year Built
2004
Listing Agency:
Home and Heart Realty
Listed By:
Rosemarie Rose Simila · License #232377
(609) 364-4916
Source:
Patmckennarealtors
Added: Oct 28
Changed: Nov 4
Last Checked: Nov 3 at 2:35PM
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 Home and Heart Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 2004, this ground-floor condominium is arranged with two bedrooms and two full bathrooms. The main bedroom has its own bath and walk-in closet. Living areas include a foyer, formal dining room, living room, and family room, with the eat-in kitchen overlooking the family room. Oak cabinetry, a laundry room with cabinet storage, and a front porch are among the property’s features.
The property is in West Deptford, near major highways, dining, and shopping. Riverwinds golf and dining is also nearby.
The property is in West Deptford, near major highways, dining, and shopping. Riverwinds golf and dining is also nearby.
Key Highlights
- Two bedrooms and two full bathrooms
- Main bedroom features a private bath and walk‑in closet
- Ground‑floor condominium built in 2004
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,673
Cap Rate
5.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$353,460
$353.5K
Cap Rate 7%
$252,471
$252.5K
Cap Rate 9%
$196,367
$196.4K
Market Conditions
NOI Build-Up for 1,512 SF
Gross rent
$34.1K $22.56/SF
− Vacancy
−$2.0K −$1.31/SF
EGI
$32.1K $21.25/SF
− OpEx
−$14.5K −$9.56/SF
NOI
$17.7K $11.69/SF
Area
Gloucester County, NJ
Vacancy
5.80%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$353,460
Cap Rate 7%
$252,471
Cap Rate 9%
$196,367
Alternative Uses
Best Use
Apartment 5plus
$252.5K
$220.9K – $294.6K
NOI $17,673 @ 7.0% cap · market cap 5.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$508.2K
$444.7K – $593.0K
NOI $35,577 @ 7.0% cap · market cap 10.31%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Frequently Asked Questions
What type of property is this?
Residential income property - The ground-floor condominium includes two bedrooms and two full bathrooms.
Where is this residential income property located?
The property is located at 9 PELICAN PLACE West Deptford, NJ.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Two bedrooms and two full bathrooms; Main bedroom features a private bath and walk‑in closet; Ground‑floor condominium built in 2004
