Two-Bedroom Residential Income
New
For Sale
$265,000
991 SCOTSWOOD COURT Unit B, Mount Laurel, NJ 08054
Second-floor condominium with two full bathrooms, granite kitchen counters, and a private balcony.
Property Size1,184 SF
Price / SF$223.82
Days on Market3
Property Features for 991 SCOTSWOOD COURT Unit B
General Information
Standard status
Active
Size
1,184 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,894
Amenities
private balcony
Building Details
Building Size
1,184 SF
Year Built
1985
Listing Agency:
Ai Brokers LLC
Listed By:
Kimberlee Anne McClellan · License #RM425459
(800) 933-1991
Source:
Patmckennarealtors
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 1 at 9:53PM
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 Ai Brokers LLC
Investment Insights
Based on property information with market context.
This second-floor condominium contains approximately 1,184 square feet with two bedrooms and two full bathrooms. The interior includes connected living and dining areas, a kitchen with granite countertops and substantial cabinetry, carpeting and hard-surface flooring, and a private balcony. The primary bedroom has its own full bathroom, while the additional bedroom and bath support flexible residential use. Built in 1985, the unit is located within the Renaissance Club community in Mount Laurel. The property is being sold as-is, where-is, with the buyer responsible for inspections, the certificate of occupancy, and required certifications. Photos have been digitally enhanced, and room dimensions and property details should be independently verified.
Key Highlights
- Approximately 1,184 square feet with 2 bedrooms and 2 full bathrooms
- Second‑floor condominium in the Renaissance Club community
- Private balcony included with the unit
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
$15,508
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
5.85%
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%
$310,160
$310.2K
Cap Rate 7%
$221,543
$221.5K
Cap Rate 9%
$172,311
$172.3K
Market Conditions
NOI Build-Up for 1,184 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
$29.8K $25.20/SF
− Vacancy
−$1.6K −$1.39/SF
EGI
$28.2K $23.81/SF
− OpEx
−$12.7K −$10.72/SF
NOI
$15.5K $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%
$310,160
Cap Rate 7%
$221,543
Cap Rate 9%
$172,311
Alternative Uses
Best Use
Apartment 5plus
$221.5K
$193.9K – $258.5K
NOI $15,508 @ 7.0% cap · market cap 5.85%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.48M
$2.17M – $2.89M
NOI $173,342 @ 7.0% cap · market cap 65.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
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 - Second-floor condominium with two full bathrooms, granite kitchen counters, and a private balcony.
Where is this residential income property located?
The property is located at 991 SCOTSWOOD COURT Unit B Mount Laurel, NJ.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Approximately 1,184 square feet with 2 bedrooms and 2 full bathrooms; Second‑floor condominium in the Renaissance Club community; Private balcony included with the unit
