Updated Residential Income
For Sale
$230,000
1001 CITY AVENUE Unit EC704, Wynnewood, PA 19096
Two-bedroom condominium with renovated interiors, flexible living space, and access to gated community amenities.
Property Size1,222 SF
Days on Market198
Property Features for 1001 CITY AVENUE Unit EC704
General Information
Standard status
Active
Size
1,222 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,398
Amenities
24-hour security
doorman
outdoor pool
indoor pool
health club
tennis courts
pickleball courts
community garden
playground
laundry facilities
on-site parking
main-level laundry
extra storage
Building Details
Building Size
1,222 SF
Year Built
1962
Listing Agency:
EXP Realty, LLC
Listed By:
Deidre M Quinn · License #RS276819
(267) 225-3678
Source:
Patmckennarealtors
Added: Mar 5
Changed: Sep 17
Last Checked: Sep 18 at 10:35AM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This 2-bedroom, 2-bath condominium at Green Hill features a renovated kitchen and bathrooms, a breakfast bar, extensive cabinetry, and open connections between the kitchen, dining, and living areas. The living room leads to a private patio, while the primary bedroom offers generous closet space. A second bedroom or den includes a custom California Closet Murphy bed, and the home also provides main-level laundry, custom window shades, an upgraded electrical panel, and lower-level storage. The building was constructed in 1962.
Green Hill is a gated community along the City Avenue corridor in Wynnewood, with a guarded front entrance and doorman service. Community amenities include optional seasonal outdoor and indoor pools, a health club, tennis and pickleball courts, gathering spaces, a community garden, and a playground. On-site parking and optional garage parking are available. The property is in Lower Merion Township and the Lower Merion School District, with access to Main Line shopping and dining, transit options, and Center City Philadelphia.
Green Hill is a gated community along the City Avenue corridor in Wynnewood, with a guarded front entrance and doorman service. Community amenities include optional seasonal outdoor and indoor pools, a health club, tennis and pickleball courts, gathering spaces, a community garden, and a playground. On-site parking and optional garage parking are available. The property is in Lower Merion Township and the Lower Merion School District, with access to Main Line shopping and dining, transit options, and Center City Philadelphia.
Key Highlights
- 2‑bedroom, 2‑bath condominium at Green Hill
- Renovated kitchen and bathrooms with breakfast bar and open sightlines
- Private patio extends from the living room
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
$16,510
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
7.18%
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%
$330,200
$330.2K
Cap Rate 7%
$235,857
$235.9K
Cap Rate 9%
$183,444
$183.4K
Market Conditions
NOI Build-Up for 1,222 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
$32.0K $26.16/SF
− Vacancy
−$2.0K −$1.60/SF
EGI
$30.0K $24.56/SF
− OpEx
−$13.5K −$11.05/SF
NOI
$16.5K $13.51/SF
Area
Montgomery County, PA
Vacancy
6.10%
Lease Rate
$26.16 /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%
$330,200
Cap Rate 7%
$235,857
Cap Rate 9%
$183,444
Alternative Uses
Best Use
Apartment 5plus
$235.9K
$206.4K – $275.2K
NOI $16,510 @ 7.0% cap · market cap 7.18%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$702.9K
$615.1K – $820.1K
NOI $49,204 @ 7.0% cap · market cap 21.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,445
Businesses Nearby
Explore this area
Business Placement
Demographics for 19096, PA
15,390
Population
5,894
Households
2.6
Avg Household Size
44
Median Age
80%
College-Educated
99%
High-School Grad
3.5 sq mi
ZIP Area
4,397
Density / Sq Mi
$186,648
Median Household Income
$104,063
Median Earnings
$2,107
Median Rent
$711,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium with renovated interiors, flexible living space, and access to gated community amenities.
Where is this residential income property located?
The property is located at 1001 CITY AVENUE Unit EC704 Wynnewood, PA.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: 2‑bedroom, 2‑bath condominium at Green Hill; Renovated kitchen and bathrooms with breakfast bar and open sightlines; Private patio extends from the living room
