Building Details

Year Built 1880

Listing Agency: Iron Valley Real Estate Exton

Listed By: Aaron Alexander Jones · License #RS377443 Show Phone

Source: Burkhart

Added: Aug 10 Changed: Oct 13 Last Checked: Oct 15 at 2:29AM

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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

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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.

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 / Yr

$43,322

Cap Rate

7.88%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$866,440 $866.4K

Cap Rate 7%

$618,886 $618.9K

Cap Rate 9%

$481,356 $481.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,770 SF

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 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 (±1% cap)

NOI $43,322 @ 7.0% cap · market cap 7.88%

Second Best

Apartment 5plus

$584.0K

$511.0K – $681.3K (±1% cap)

NOI $40,880 @ 7.0% cap · market cap 7.43%

Theoretical Best

Office A

$1.14M

$1.00M – $1.33M (±1% cap)

NOI $80,012 @ 7.0% cap · market cap 14.55%

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

Property Analytics

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Current Use

Quadplexes

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Parking Lot & Garage Auto Repair Shop HVAC Service Grocery & Convenience Store

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

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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