Building Details

Building Size 1,658 SF

Year Built 2003

Listing Agency: Market Force Realty

Listed By: Inna Pakhalyuk · License #RSS333085 Show Phone

Source: Lizclarkrealestate

Added: Oct 8 Changed: Oct 11 Last Checked: Oct 15 at 8:31AM

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Investment Insights

Based on property information with market context.

Set within a 55+ community built in 2003, this second-floor residence offers approximately 1,658 square feet. The layout includes an eat-in kitchen, living room with hardwood flooring, formal dining room, and a bonus room suitable for use as an office, den, or hobby space. There are two bedrooms, including a primary suite with a walk-in closet and private bath, plus a full hall bathroom. A laundry room provides additional pantry and storage space, and a private balcony extends the living area outdoors.

An elevator serves the building. The unit also includes an oversized one-car garage with interior building access and room for storage shelving. The HVAC system was replaced in 2022. Community services include exterior upkeep and winter snow removal.

Key Highlights

• Approximately 1,658 square feet of living space
• Two bedrooms, two bathrooms, and a flexible bonus room
• Private balcony and oversized one‑car garage with interior building access

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$20,528

Cap Rate

4.69%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$410,560 $410.6K

Cap Rate 7%

$293,257 $293.3K

Cap Rate 9%

$228,089 $228.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,658 SF

Gross rent

$38.6K $23.28/SF

− Vacancy

−$1.3K −$0.77/SF

EGI

$37.3K $22.51/SF

− OpEx

−$16.8K −$10.13/SF

NOI

$20.5K $12.38/SF

Area

Bucks County, PA

Vacancy

3.30%

Lease Rate

$23.28 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$410,560

Cap Rate 7%

$293,257

Cap Rate 9%

$228,089

Alternative Uses

Best Use

Apartment 5plus

$293.3K

$256.6K – $342.1K (±1% cap)

NOI $20,528 @ 7.0% cap · market cap 4.69%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$502.7K

$439.9K – $586.5K (±1% cap)

NOI $35,188 @ 7.0% cap · market cap 8.03%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Residential income properties

Suggested Use

Top Pick Parking Lot & Garage Pharmacy (Bike/Boat/Book/etc) Store Barber Shop Locksmith Storage Facility

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

1

Residential units

Location Intelligence

Trade Area within ½ mile

352

Businesses Nearby

Explore this area Business Placement

Demographics for 18966, PA

38,079

Population

14,199

Households

2.7

Avg Household Size

47

Median Age

48%

College-Educated

97%

High-School Grad

16.3 sq mi

ZIP Area

2,336

Density / Sq Mi

$119,741

Median Household Income

$63,712

Median Earnings

$1,840

Median Rent

$466,900

Median Home Value

Frequently Asked Questions

What type of property is this?

Residential income property - A second-floor residence combines a balcony, elevator access, and community-provided winter snow removal.

Where is this residential income property located?

The property is located at 1 FALCON DRIVE Unit 206 Holland, PA.

What is the asking price?

The asking price for this property is $438,000.

What are key features of this property?

This property features: Approximately 1,658 square feet of living space; Two bedrooms, two bathrooms, and a flexible bonus room; Private balcony and oversized one‑car garage with interior building access