Updated Residential Income
For Sale
$275,000
D4 AVON DRIVE, Hightstown, NJ 08520
Two full bathrooms, refreshed finishes, and association-covered utilities support low-maintenance ownership.
Property Size986 SF
Price / SF$278.90
Days on Market9
Property Features for D4 AVON DRIVE
General Information
Standard status
Active
Size
986 SF
Property subtype
Apartment
Building Details
Year Built
1968
Listing Agency:
Keller Williams Premier
(609) 802-1434
Listed By:
Patrick Remboski · License #1859803
(609) 802-1434
Source:
Cummingsrealtors
Added: Aug 14
Changed: Aug 22
Last Checked: Aug 22 at 3:45AM
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 Keller Williams Premier
Investment Insights
Based on property information with market context.
This condominium at D4 Avon Drive offers 986 square feet with two bedrooms and two full bathrooms. The interior has been refreshed with new laminate flooring and fresh paint, while windows installed in 2025 add a recent capital improvement. Kitchen equipment includes a newer refrigerator and dishwasher. Originally built in 1968, the unit presents a practical residential income asset with an updated interior and manageable layout.
The property is in East Windsor Township, New Jersey, with access to shopping, dining, parks, the NJ Turnpike, and Route 33. Association-covered services include heat, gas, sewer, water, trash removal, snow removal, landscaping, and outdoor amenities.
The property is in East Windsor Township, New Jersey, with access to shopping, dining, parks, the NJ Turnpike, and Route 33. Association-covered services include heat, gas, sewer, water, trash removal, snow removal, landscaping, and outdoor amenities.
Key Highlights
- 986 SF condominium with 2 bedrooms and 2 full bathrooms
- New windows installed in 2025
- New laminate flooring and fresh paint throughout
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
$15,049
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
5.47%
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%
$300,980
$301.0K
Cap Rate 7%
$214,986
$215.0K
Cap Rate 9%
$167,211
$167.2K
Market Conditions
NOI Build-Up for 986 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
$29.6K $30.00/SF
− Vacancy
−$2.2K −$2.25/SF
EGI
$27.4K $27.75/SF
− OpEx
−$12.3K −$12.49/SF
NOI
$15.0K $15.26/SF
Area
Mercer County, NJ
Vacancy
7.50%
Lease Rate
$30.00 /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%
$300,980
Cap Rate 7%
$214,986
Cap Rate 9%
$167,211
Alternative Uses
Best Use
Apartment 5plus
$215.0K
$188.1K – $250.8K
NOI $15,049 @ 7.0% cap · market cap 5.47%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$317.2K
$277.6K – $370.1K
NOI $22,206 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
351
Businesses Nearby
Explore this area
Business Placement
Demographics for 08520, NJ
29,291
Population
11,271
Households
2.6
Avg Household Size
40
Median Age
46%
College-Educated
92%
High-School Grad
18.0 sq mi
ZIP Area
1,627
Density / Sq Mi
$116,282
Median Household Income
$52,890
Median Earnings
$1,556
Median Rent
$361,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two full bathrooms, refreshed finishes, and association-covered utilities support low-maintenance ownership.
Where is this residential income property located?
The property is located at D4 AVON DRIVE Hightstown, NJ.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 986 SF condominium with 2 bedrooms and 2 full bathrooms; New windows installed in 2025; New laminate flooring and fresh paint throughout
