Main-Level Residential Income
For Sale
$248,000
988 SCOTSWOOD COURT, Mount Laurel, NJ 08054
Updated single-story residence with private patio, generous storage, and access to extensive shared recreational amenities.
Property Size880 SF
Days on Market23
Property Features for 988 SCOTSWOOD COURT
General Information
Standard status
Active
Size
880 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,206
Amenities
pool
clubhouse
pickleball courts
bocce ball courts
BBQ areas
dog park
Building Details
Building Size
880 SF
Year Built
1986
Listing Agency:
Coldwell Banker Realty
Listed By:
Jessica L Floyd · License #1860681
(609) 969-1075
Source:
Patmckennarealtors
Added: Aug 20
Changed: Sep 10
Last Checked: Sep 10 at 7:10AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This main-level condominium provides single-story living with a practical residential layout. Improvements include luxury vinyl plank flooring installed in 2024 and windows replaced in 2024. The kitchen features wood cabinetry and room for an island, while the adjacent dining area includes built-in wood storage. A substantial living room opens through sliding doors to a private patio, with an additional storage closet positioned just outside. The home also includes a laundry room, full bathroom, bedrooms, and a primary suite with a large walk-in closet.
Community amenities include a pool, clubhouse, pickleball and bocce courts, BBQ areas, and a dog park. Residents also have access to organized yoga sessions, clubs, and a knitting group. The property is near Routes 295 and 38, within walking distance of ShopRite and other shops, and was built in 1986.
Community amenities include a pool, clubhouse, pickleball and bocce courts, BBQ areas, and a dog park. Residents also have access to organized yoga sessions, clubs, and a knitting group. The property is near Routes 295 and 38, within walking distance of ShopRite and other shops, and was built in 1986.
Key Highlights
- Main‑level condominium with single‑story layout
- Luxury vinyl plank flooring and windows both updated in 2024
- Private patio with adjacent dedicated storage closet
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
$11,526
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
4.65%
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%
$230,520
$230.5K
Cap Rate 7%
$164,657
$164.7K
Cap Rate 9%
$128,067
$128.1K
Market Conditions
NOI Build-Up for 880 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
$22.2K $25.20/SF
− Vacancy
−$1.2K −$1.39/SF
EGI
$21.0K $23.81/SF
− OpEx
−$9.4K −$10.72/SF
NOI
$11.5K $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%
$230,520
Cap Rate 7%
$164,657
Cap Rate 9%
$128,067
Alternative Uses
Best Use
Apartment 5plus
$164.7K
$144.1K – $192.1K
NOI $11,526 @ 7.0% cap · market cap 4.65%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.84M
$1.61M – $2.15M
NOI $128,835 @ 7.0% cap · market cap 51.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
674
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated single-story residence with private patio, generous storage, and access to extensive shared recreational amenities.
Where is this residential income property located?
The property is located at 988 SCOTSWOOD COURT Mount Laurel, NJ.
What is the asking price?
The asking price for this property is $248,000.
What are key features of this property?
This property features: Main‑level condominium with single‑story layout; Luxury vinyl plank flooring and windows both updated in 2024; Private patio with adjacent dedicated storage closet
