This is called Riverview at Edison and is a coop community as vs to condo community. The 1br 1ba price is often half of condo equivalent, and therefore the monthly fee is higher. So, if it asks $65,000, you can be sure it is pretty good, considering a 1br 1ba condo at Edison is well over $130,000. e.g. 1br 1ba condo at Edison Hollow South http://raspberryct.blogspot.com/
(sold out!) is about $200,000.
The coop community also has potential to be converted into condo like Mill Pointe at Edison (was coop, now condo), http://millpointe.blogspot.com/
when that happen, the value seems to be double.
This Riverview at Edison is very nice and beautiful and some section near Raritan River, during summer times you will have lots of nice outdoor activities there, or nearby Donaldson Park or Johnson Park. It is also so close to Rutgers University that you can easily check out mostly free high class University Concerts http://www.masongross.rutgers.edu/index_noflash.html
and here is the Spring concert schedule http://www.masongross.rutgers.edu/calendar/free.html
It is also right off Rt 1 very easy to access Rt 18, Turnpike, Fwy 287 ...etc. even better, the gas station along that section seem to be one of the lowest price in NJ. http://www.newjerseygasprices.com/index.aspx?s=Y&fuel=A&
This coop community is one of few great value community left in Edison because Edison just ranked #35 of Top 100 Best Places to Live in American by CNN Money magazine http://money.cnn.com/magazines/moneymag/bplive/2008/snapshot
Many savvy retired people often bought here after sold their big house.
Also, once Rt 18 traffic lights removed and highway expanded, from Riverview can seem to access all campus of Rutgers University thru highway. That is to say, if you want to rent it out years later when move up to bigger home, you will have lots of Rutgers students interested in your place.
However, I want to remind you that since Rutgers got 1,000 more extra students chose Rutgers over top universities like UC Berkeley, Columbia Univ, Cornell, John Hopkins ....etc, you know the housing demand in the area will be tough by September when they become sophomore and needs to move out. Also, in 2009, Rutgers going to have 1,500 more freshman chose Rutgers over other top universities, so you can be sure that Riverview at Edison will be sold out in the future as soon as investors or Rutgers student parents found it.
They will almost for sure to find it because they shall google "Riverview at Edison" and saw my posting. I am not realtor and my posting are based on my first hand info, and easily verifiable from the point of view of peer buyers. Most nice communities I mentioned eventually sold out.