12-Unit Stone Apartment
New
For Sale
$825,000
1 N 2ND STREET #APT, Darby, PA 19023
A three-story multifamily property offers a studio and one-bedroom unit mix, with dedicated off-street parking.
Property Size6,000 SF
Price / SF$137.50
Days on Market4
Property Features for 1 N 2ND STREET #APT
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Commercial
Occupancy
92%
Net Operating Income
$51,669
Financials
Asking Price
$825,000
Cap Rate
6.3%
Gross Income
$111,000
Units
Unit Mix
6 x Studio, 6 x 1BR/1BA
Multifamily Units
12
Amenities
Off-street parking lot
Building Details
Year Built
1900
Buildings
1
Stories
3
Construction
Stone and Masonry
Tenancy
Multi
Listing Agency:
BHHS Fox & Roach-Jenkintown
(215) 887-0400
Listed By:
christian washington
(267) 981-5392
Source:
Cummingsrealtors
Added: Sep 29
Changed: Oct 1
Last Checked: Oct 1 at 11:39AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BHHS Fox & Roach-Jenkintown
Investment Insights
Based on property information with market context.
This three-story stone and masonry apartment building contains 12 units across six studios and six one-bedroom apartments. The property totals 6,000 square feet and was built in 1900. Eleven units are occupied, and unit interiors have been updated. Residents pay their own electric bills, while the owner covers water service. A dedicated off-street parking lot serves the building.
Located at 1 N 2nd Street in Darby, Pennsylvania, the property has access to public transportation.
Located at 1 N 2nd Street in Darby, Pennsylvania, the property has access to public transportation.
Key Highlights
- 12 apartments: six studios and six one‑bedroom units
- Three‑story stone and masonry construction; 6,000 square feet
- Built in 1900, with updated units
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
$60,148
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
7.29%
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%
$1,202,960
$1.2M
Cap Rate 7%
$859,257
$859.3K
Cap Rate 9%
$668,311
$668.3K
Market Conditions
NOI Build-Up for 6,000 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
$126.7K $21.12/SF
− Vacancy
−$17.4K −$2.89/SF
EGI
$109.4K $18.23/SF
− OpEx
−$49.2K −$8.20/SF
NOI
$60.1K $10.02/SF
Area
Delaware County, PA
Vacancy
13.70%
Lease Rate
$21.12 /SF/Yr
Expense Ratio
45.00%
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%
$1,202,960
Cap Rate 7%
$859,257
Cap Rate 9%
$668,311
Alternative Uses
Best Use
Apartment 5plus
$859.3K
$751.9K – $1.00M
NOI $60,148 @ 7.0% cap · market cap 7.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.82M
$1.59M – $2.12M
NOI $127,340 @ 7.0% cap · market cap 15.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
12
Residential units
91.7%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
878
Businesses Nearby
Explore this area
Business Placement
Demographics for 19023, PA
22,180
Population
9,089
Households
2.4
Avg Household Size
34
Median Age
17%
College-Educated
87%
High-School Grad
2.0 sq mi
ZIP Area
11,090
Density / Sq Mi
$48,962
Median Household Income
$37,110
Median Earnings
$1,240
Median Rent
$117,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - A three-story multifamily property offers a studio and one-bedroom unit mix, with dedicated off-street parking.
Where is this apartment building located?
The property is located at 1 N 2ND STREET #APT Darby, PA.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 12 apartments: six studios and six one‑bedroom units; Three‑story stone and masonry construction; 6,000 square feet; Built in 1900, with updated units
