Rehabilitated Duplex with
For Sale
$650,000
Pending
1010 Mt Pleasant Avenue, Wayne, PA 19087
Two-unit residential property with private basements, off-street parking, and a garage.
Property Size2,664 SF
Days on Market173
Property Features for 1010 Mt Pleasant Avenue
General Information
Standard status
Pending
Size
2,664 SF
Total Parking Spaces
6
Property subtype
Multi-Family / Fee Simple
Zoning
RESI
Taxes and HOA fees
Annual Taxes
$4,732
Amenities
No
Built-In Microwave, Dryer, Dishwasher, ENERGY STAR Dishwasher, ENERGY STAR Refrigerator, Oven - Single, Water Heater, Washer
Built-Ins, Kitchen - Gourmet, Wood Floors
No Pool
Above Grade, Below Grade
Building Details
Year Built
1910
Listing Agency:
Wayne Realty Corporation
(610) 687-5280
Listed By:
Mary K Giovanni · License #RM422141
(610) 687-5280
Source:
Compass
Added: Mar 13
Changed: Aug 30
Last Checked: Aug 31 at 9:46PM
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 Wayne Realty Corporation
Investment Insights
Based on property information with market context.
Renovated duplex containing 2,664 square feet with distinct one-bedroom and two-bedroom residences. The larger unit includes a living room, dining area, eat-in kitchen, powder room, sitting room, primary bedroom, bathroom, and walk-in closet. The second residence offers a formal living room, dining room with built-ins, hardwood flooring, ornamental fireplace, gourmet kitchen, two bedrooms, and a new bathroom. Both units have private basements with laundry and storage areas.
Exterior features include a front porch, deck, off-street parking, and a garage with a stone floor. The property is located in Wayne within Montgomery County and is zoned RESI. Built in 1910, the duplex includes dishwashers, refrigerators, ovens, washers, dryers, and water heaters.
Exterior features include a front porch, deck, off-street parking, and a garage with a stone floor. The property is located in Wayne within Montgomery County and is zoned RESI. Built in 1910, the duplex includes dishwashers, refrigerators, ovens, washers, dryers, and water heaters.
Key Highlights
- Two‑unit duplex with one‑bedroom and two‑bedroom residences
- 2,664 square feet on a RESI‑zoned property
- Private basement laundry and storage areas for both 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
$29,199
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
4.49%
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%
$583,980
$584.0K
Cap Rate 7%
$417,129
$417.1K
Cap Rate 9%
$324,433
$324.4K
Market Conditions
NOI Build-Up for 2,664 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
$48.0K $18.00/SF
− Vacancy
−$6.2K −$2.34/SF
EGI
$41.7K $15.66/SF
− OpEx
−$12.5K −$4.70/SF
NOI
$29.2K $10.96/SF
Area
Delaware County, PA
Vacancy
13.01%
Lease Rate
$18.00 /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%
$583,980
Cap Rate 7%
$417,129
Cap Rate 9%
$324,433
Alternative Uses
Best Use
Multifamily LT 5
$417.1K
$365.0K – $486.7K
NOI $29,199 @ 7.0% cap · market cap 4.49%
Second Best
Apartment 5plus
$381.5K
$333.8K – $445.1K
NOI $26,706 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$807.7K
$706.7K – $942.3K
NOI $56,539 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
113
Businesses Nearby
Explore this area
Business Placement
Demographics for 19087, PA
33,501
Population
12,829
Households
2.6
Avg Household Size
40
Median Age
78%
College-Educated
97%
High-School Grad
15.6 sq mi
ZIP Area
2,148
Density / Sq Mi
$165,451
Median Household Income
$71,234
Median Earnings
$2,130
Median Rent
$693,200
Median Home Value
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 - Two-unit residential property with private basements, off-street parking, and a garage.
Where is this duplex located?
The property is located at 1010 Mt Pleasant Avenue Wayne, PA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Two‑unit duplex with one‑bedroom and two‑bedroom residences; 2,664 square feet on a RESI‑zoned property; Private basement laundry and storage areas for both units
