Two-Unit Duplex with Off-Street
For Sale
$529,000
138 CHURCH Street, Malvern, PA 19355
Multi-Family, MALVERN, PA
Property Size1,736 SF
Lot Size0.10 Acres
Price / SF$304.72
Days on Market48
Property Features for 138 CHURCH Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking
2
Parking features
Driveway, Off Street
Subdivision
NONE AVAILABLE
Elementary school district
GREAT VALLEY
Middle school district
GREAT VALLEY
High school district
GREAT VALLEY
Standard status
Active
Size
1,736 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
4650
Utilities
Heating system
Hot Water(Heating)
Building Details
Year built
1895
Number of units
2
Building materials
Vinyl Siding, Aluminum Siding
Architectural style
Other
Listing Agency:
KW Greater West Chester · Keller Williams Realty
(610) 436-6500
Listed By:
Jeffrey Scott · License #RS349452
(610) 739-0427
Added: Jul 27
Changed: Sep 11
Last Checked: Sep 12 at 8:06AM
MLS# PACT2131954
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex contains two residential units: one with two bedrooms and one full bathroom, and a second with one bedroom and one full bathroom. The 1,736-square-foot property includes a basement, driveway and off-street parking, vinyl and aluminum siding, and hot-water heating. Built in 1895, the building sits on 0.0993 acres.
The property is located in Malvern, with downtown within easy walking distance. Burke Park and Randolph Woods are nearby, while the Malvern train station is minutes away. Villa Maria Academy High School and Target Grocery are also within the surrounding area, adding access to schools, recreation, transit, and everyday shopping.
The property is located in Malvern, with downtown within easy walking distance. Burke Park and Randolph Woods are nearby, while the Malvern train station is minutes away. Villa Maria Academy High School and Target Grocery are also within the surrounding area, adding access to schools, recreation, transit, and everyday shopping.
Key Highlights
- 1,736‑square‑foot duplex situated on 0.0993 acres
- Two‑bedroom, one‑bathroom unit paired with a one‑bedroom, one‑bathroom unit
- Driveway and off‑street parking included
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
$19,949
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
3.77%
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%
$398,980
$399.0K
Cap Rate 7%
$284,986
$285.0K
Cap Rate 9%
$221,656
$221.7K
Market Conditions
NOI Build-Up for 1,736 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
$33.3K $19.20/SF
− Vacancy
−$4.8K −$2.78/SF
EGI
$28.5K $16.42/SF
− OpEx
−$8.5K −$4.92/SF
NOI
$19.9K $11.49/SF
Area
Chester County, PA
Vacancy
14.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
30.00%
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%
$398,980
Cap Rate 7%
$284,986
Cap Rate 9%
$221,656
Alternative Uses
Best Use
Multifamily LT 5
$285.0K
$249.4K – $332.5K
NOI $19,949 @ 7.0% cap · market cap 3.77%
Second Best
Apartment 5plus
$268.9K
$235.3K – $313.7K
NOI $18,824 @ 7.0% cap · market cap 3.56%
Theoretical Best
Office A
$526.3K
$460.6K – $614.1K
NOI $36,844 @ 7.0% cap · market cap 6.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
705
Businesses Nearby
Explore this area
Business Placement
Demographics for 19355, PA
29,273
Population
11,815
Households
2.5
Avg Household Size
41
Median Age
73%
College-Educated
97%
High-School Grad
38.3 sq mi
ZIP Area
764
Density / Sq Mi
$162,917
Median Household Income
$87,900
Median Earnings
$1,960
Median Rent
$662,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Residential income property with a two-bedroom unit and a one-bedroom unit, plus convenient driveway parking.
Where is this duplex located?
The property is located at 138 CHURCH Street Malvern, PA.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: 1,736‑square‑foot duplex situated on 0.0993 acres; Two‑bedroom, one‑bathroom unit paired with a one‑bedroom, one‑bathroom unit; Driveway and off‑street parking included
