Duplex with Separate
For Sale
$500,000
343 SUMMER Avenue, Horsham, PA 19044
Multi-Family, HORSHAM, PA
Property Size2,016 SF
Lot Size0.66 Acres
Price / SF$248.02
Days on Market48
Property Features for 343 SUMMER Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Driveway
Elementary school district
HATBORO-HORSHAM
Middle school district
HATBORO-HORSHAM
High school district
HATBORO-HORSHAM
Standard status
Active
Size
2,016 SF
Lot size
0.66 Acres
Taxes and HOA fees
Tax Annual Amount
6157
Utilities
Heating system
Hot Water(Heating)
Cooling system
Window Unit(s), Wall Unit(s)
Amenities
in-unit laundry
Building Details
Year built
1968
Number of units
2
Building materials
Asbestos
Architectural style
Colonial
Listing Agency:
Homestarr Realty
(215) 355-5565
Listed By:
Pierre Mark Eade · License #RS351771
(215) 584-3769
Added: Jul 25
Changed: Sep 2
Last Checked: Sep 10 at 10:06AM
MLS# PAMC2188432
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 detached duplex contains two residential units totaling 2,016 square feet on a 0.66-acre parcel. Apartment A occupies the first floor and includes a living room, dining room, kitchen, full bathroom, two bedrooms, and access to the full basement. Apartment B is upstairs with a living room, eat-in kitchen, full bathroom, and two bedrooms. Both units have separate heating, hot water, and laundry, while tenants pay water, sewer, trash, and other utilities. The owner is responsible for real estate taxes and insurance.
Recent work includes a new roof, replacement windows, exterior and interior door updates, basement door replacement, recessed lighting, flooring improvements, and kitchen and bathroom renovations in Apartment B. Additional updates include a refrigerator, dishwasher, range, hot water heater, and in-wall air conditioner. The property includes driveway parking for four vehicles and a level backyard. It is near Route 611, the Pennsylvania Turnpike, public transportation, supermarkets, restaurants, and everyday amenities. The duplex is being conveyed fully occupied.
Recent work includes a new roof, replacement windows, exterior and interior door updates, basement door replacement, recessed lighting, flooring improvements, and kitchen and bathroom renovations in Apartment B. Additional updates include a refrigerator, dishwasher, range, hot water heater, and in-wall air conditioner. The property includes driveway parking for four vehicles and a level backyard. It is near Route 611, the Pennsylvania Turnpike, public transportation, supermarkets, restaurants, and everyday amenities. The duplex is being conveyed fully occupied.
Key Highlights
- Fully occupied detached duplex at 343 Summer Avenue, Horsham, PA 19044
- Two units with two bedrooms and one full bathroom each
- 2,016 square feet on 0.66 acres
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
$29,292
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
5.86%
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%
$585,840
$585.8K
Cap Rate 7%
$418,457
$418.5K
Cap Rate 9%
$325,467
$325.5K
Market Conditions
NOI Build-Up for 2,016 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
$44.8K $22.20/SF
− Vacancy
−$2.9K −$1.44/SF
EGI
$41.8K $20.76/SF
− OpEx
−$12.6K −$6.23/SF
NOI
$29.3K $14.53/SF
Area
Montgomery County, PA
Vacancy
6.50%
Lease Rate
$22.20 /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%
$585,840
Cap Rate 7%
$418,457
Cap Rate 9%
$325,467
Alternative Uses
Best Use
Multifamily LT 5
$418.5K
$366.2K – $488.2K
NOI $29,292 @ 7.0% cap · market cap 5.86%
Second Best
Apartment 5plus
$389.1K
$340.5K – $454.0K
NOI $27,237 @ 7.0% cap · market cap 5.45%
Theoretical Best
Specialty Retail
$1.16M
$1.01M – $1.35M
NOI $81,174 @ 7.0% cap · market cap 16.23%
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
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
745
Businesses Nearby
Explore this area
Business Placement
Demographics for 19044, PA
16,273
Population
7,144
Households
2.3
Avg Household Size
39
Median Age
46%
College-Educated
92%
High-School Grad
9.0 sq mi
ZIP Area
1,808
Density / Sq Mi
$96,189
Median Household Income
$49,945
Median Earnings
$1,434
Median Rent
$372,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Fully occupied detached property with two residences, individual laundry, and off-street driveway parking.
Where is this duplex located?
The property is located at 343 SUMMER Avenue Horsham, PA.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Fully occupied detached duplex at 343 Summer Avenue, Horsham, PA 19044; Two units with two bedrooms and one full bathroom each; 2,016 square feet on 0.66 acres
