Building Details

Year built 1900

Number of units 3

Building materials Vinyl Siding

Architectural style Colonial

Listing Agency: RE/MAX Select Group · RE/MAX International a***@aol.com Show Phone

Listed By: Simran Kaur Dheer · License #RS375495 Show Phone

Added: Sep 9 Last Checked: Sep 9 at 7:06PM

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MLS# PACT2135544

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 Colonial-style triplex contains 2,175 square feet and was built in 1900. The unit mix includes one three-bedroom, one-bath apartment and two two-bedroom, one-bath apartments. Renovated interiors feature custom cabinetry, stainless steel appliances, luxury vinyl plank flooring, and refreshed bathrooms with custom tile and new fixtures. Generously sized bedrooms support comfortable residential layouts, while the property also includes a basement, vinyl siding, forced-air heating, and driveway and off-street parking.

The property occupies a 0.99-acre lot with an expansive open yard, providing substantially more outdoor area than a typical multifamily setting. The combination of three apartments, updated finishes, varied unit configurations, and a large parcel creates a clearly defined multifamily asset with established physical improvements.

Key Highlights

• Three‑unit property with one 3‑bedroom apartment and two 2‑bedroom apartments
• 0.99‑acre lot with expansive open yard
• 2,175 square feet across the triplex

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

$24,993

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

5.00%

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%

$499,860 $499.9K

Cap Rate 7%

$357,043 $357.0K

Cap Rate 9%

$277,700 $277.7K

Market Conditions

NOI Build-Up for 2,175 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

$41.8K $19.20/SF

− Vacancy

−$6.1K −$2.78/SF

EGI

$35.7K $16.42/SF

− OpEx

−$10.7K −$4.92/SF

NOI

$25.0K $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%

$499,860

Cap Rate 7%

$357,043

Cap Rate 9%

$277,700

Alternative Uses

Best Use

Multifamily LT 5

$357.0K

$312.4K – $416.6K (±1% cap)

NOI $24,993 @ 7.0% cap · market cap 5.00%

Second Best

Apartment 5plus

$336.9K

$294.8K – $393.1K (±1% cap)

NOI $23,584 @ 7.0% cap · market cap 4.72%

Theoretical Best

Office A

$659.4K

$577.0K – $769.4K (±1% cap)

NOI $46,161 @ 7.0% cap · market cap 9.23%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Auto Repair Shop Garden Center Law Firm Veterinary Clinic Pet Store & Service Wine and Liquor Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

Location Intelligence

Trade Area within ½ mile

23

Businesses Nearby

Explore this area Business Placement

Demographics for 19350, PA

11,030

Population

3,992

Households

2.8

Avg Household Size

45

Median Age

60%

College-Educated

97%

High-School Grad

28.0 sq mi

ZIP Area

394

Density / Sq Mi

$152,264

Median Household Income

$73,039

Median Earnings

$1,405

Median Rent

$494,300

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this triplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Triplex - Three updated apartments offer varied bedroom layouts, modern finishes, off-street parking, and substantial outdoor space.

Where is this triplex located?

The property is located at 715 STRICKERSVILLE Road Landenberg, PA.

What is the asking price?

The asking price for this property is $499,900.

What are key features of this property?

This property features: Three‑unit property with one 3‑bedroom apartment and two 2‑bedroom apartments; 0.99‑acre lot with expansive open yard; 2,175 square feet across the triplex