Two-Bedroom Residential Income
For Sale
$240,000
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$202.70
Days on Market51
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: Oct 12
Last Checked: Oct 19 at 2:52PM
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
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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 / Yr
$15,508
Cap Rate
6.46%
Suggested Prices Based on Cap Rates
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
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 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 6.46%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.48M
$2.17M – $2.89M
NOI $173,342 @ 7.0% cap · market cap 72.23%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
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
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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 $240,000.
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
