Four-Unit
For Sale
$549,900
103 Mercer Mill Rd, Landenberg, PA 19350
Rental property with varied layouts, including one three-bedroom unit, one two-bedroom unit, and two one-bedroom units.
Property Size3,770 SF
Price / SF$145.86
Days on Market22
Property Features for 103 Mercer Mill Rd
General Information
Standard status
Active
Size
3,770 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
4
Additional Details
Gross Income
$59,400
Building Details
Year Built
1880
Listing Agency:
Iron Valley Real Estate Exton
(610) 850-3535
Listed By:
Aaron Alexander Jones · License #RS377443
Source:
Burkhart
Added: Aug 10
Changed: Aug 28
Last Checked: Aug 30 at 7:31PM
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 Iron Valley Real Estate Exton
Investment Insights
Based on property information with market context.
This four-unit rental property provides a varied residential configuration within a 3,770-square-foot building constructed in 1880. The unit mix includes one three-bedroom, one-bath residence; one two-bedroom, one-bath residence; and two one-bedroom, one-bath residences. The property is located at 103 Mercer Mill Rd in Landenberg, Pennsylvania.
The setting is described as rural and quiet, with proximity to Newark, Delaware, Kennett Square, local amenities, and schools. The existing layout creates a range of unit sizes within a single multifamily asset, offering a straightforward configuration for continued rental use.
The setting is described as rural and quiet, with proximity to Newark, Delaware, Kennett Square, local amenities, and schools. The existing layout creates a range of unit sizes within a single multifamily asset, offering a straightforward configuration for continued rental use.
Key Highlights
- Four‑unit property with a 3,770‑square‑foot building
- Unit mix includes one 3BR/1BA, one 2BR/1BA, and two 1BR/1BA units
- Building constructed in 1880
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
$43,322
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
7.88%
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%
$866,440
$866.4K
Cap Rate 7%
$618,886
$618.9K
Cap Rate 9%
$481,356
$481.4K
Market Conditions
NOI Build-Up for 3,770 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
$72.4K $19.20/SF
− Vacancy
−$10.5K −$2.78/SF
EGI
$61.9K $16.42/SF
− OpEx
−$18.6K −$4.92/SF
NOI
$43.3K $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%
$866,440
Cap Rate 7%
$618,886
Cap Rate 9%
$481,356
Alternative Uses
Best Use
Multifamily LT 5
$618.9K
$541.5K – $722.0K
NOI $43,322 @ 7.0% cap · market cap 7.88%
Second Best
Apartment 5plus
$584.0K
$511.0K – $681.3K
NOI $40,880 @ 7.0% cap · market cap 7.43%
Theoretical Best
Office A
$1.14M
$1.00M – $1.33M
NOI $80,012 @ 7.0% cap · market cap 14.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
37
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Rental property with varied layouts, including one three-bedroom unit, one two-bedroom unit, and two one-bedroom units.
Where is this quadplex located?
The property is located at 103 Mercer Mill Rd Landenberg, PA.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Four‑unit property with a 3,770‑square‑foot building; Unit mix includes one 3BR/1BA, one 2BR/1BA, and two 1BR/1BA units; Building constructed in 1880
