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Galloway Township,NJ 08205
Key Details
Property Type Condo
Sub Type Condo
Listing Status Active
Purchase Type For Sale
MLS Listing ID 600421
Bedrooms 2
Full Baths 2
Year Built 1987
Annual Tax Amount $2,587
Tax Year 2024
Property Sub-Type Condo
Property Description
Welcome to 22 Colonial Ct., a smart investment opportunity nestled in the sought-after Mattix Crossing community of Galloway, NJ! This well-maintained first-floor condo features 2 spacious bedrooms and 2 full bathrooms across 1,110 sq. ft. of comfortable living space. Situated in a private, end-unit location at the back of the development, this home offers peace, privacy, and proximity to nature with wooded views right outside your windows. Inside, you'll find a functional layout with a dedicated dining room, cozy living space, efficient kitchen, and a utility/laundry room for convenience. No recent updates needed—this unit already has tenants in place, making it turnkey for investors looking to start earning from day one. Here is your Investment Snapshot: Listed at $209,900, this property brings in $1,880/month in rental income. With annual expenses totaling just $7,590, your Net Operating Income is a solid $14,970/year. That's a monthly cash flow of $1,247.50, with a Gross ROI of 10.74% and a Cap Rate of 7.13%—exceptional metrics for the area! Low property taxes ($2,590/year) and reasonable HOA fees ($1,800/year) make the operating costs manageable while providing access to a well-kept condo community. The tenants are responsible and pay on time, giving you peace of mind and consistent cash flow. Whether you're a seasoned investor or just starting out, this property checks all the boxes: strong returns, low maintenance, great location, and reliable tenants. Don't miss out on this income-producing gem!
Location
State NJ
County Atlantic
Community Galloway Township
Area Galloway Twp
Rooms
Other Rooms Dining Room
Interior
Heating Forced Air,Gas-Natural
Exterior
Parking Features None
Building
Story Three to Five
Unit Location End Unit,First Floor
Sewer Public Sewer
Water Public Water
Others
Senior Community No