Stone Quadplex with Four
For Sale
$549,900
103 MERCER MILL Road, Landenberg, PA 19350
Multi-Family, LANDENBERG, PA
Property Size3,770 SF
Lot Size0.60 Acres
Price / SF$145.86
Days on Market314
Property Features for 103 MERCER MILL Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
7
Parking features
Off Street
Elementary school district
KENNETT CONSOLIDATED
Middle school district
KENNETT CONSOLIDATED
High school district
KENNETT CONSOLIDATED
Standard status
Active
Size
3,770 SF
Lot size
0.60 Acres
Taxes and HOA fees
Tax Annual Amount
6375
Utilities
Heating system
Hot Water(Heating)
Building Details
Year built
1880
Number of units
4
Building materials
Stone
Architectural style
Other
Listing Agency:
Iron Valley Real Estate Exton
(610) 561-1111
Listed By:
Aaron Alexander Jones · License #RS377443
(610) 850-3535
Added: Oct 31, 2025
Changed: Sep 6
Last Checked: Sep 9 at 8:06PM
MLS# PACT2111772
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This stone quadplex contains four residential units within 3,770 square feet on a 0.6-acre parcel. The unit mix includes one three-bedroom, one two-bedroom, and two one-bedroom residences, each with one bathroom. Improvements date to 1880 and include hot water heating and off-street parking.
The property is located at 103 Mercer Mill Road in Landenberg, Pennsylvania, in a country setting described as close to Newark, Delaware, and Kennett Square. Its four-unit configuration and varied floor plans provide a clearly defined multifamily layout for evaluation by purchasers seeking an existing residential income property.
The property is located at 103 Mercer Mill Road in Landenberg, Pennsylvania, in a country setting described as close to Newark, Delaware, and Kennett Square. Its four-unit configuration and varied floor plans provide a clearly defined multifamily layout for evaluation by purchasers seeking an existing residential income property.
Key Highlights
- Four‑unit quadplex with one 3‑bedroom, one 2‑bedroom, and two 1‑bedroom residences
- 3,770 square feet on 0.6 acres
- Stone construction dating to 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
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Open Analytics
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
Check the figures for this property
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?
Quadplex - Distinct floor plans accommodate a varied mix of one-, two-, and three-bedroom residences.
Where is this quadplex located?
The property is located at 103 MERCER MILL Road 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 quadplex with one 3‑bedroom, one 2‑bedroom, and two 1‑bedroom residences; 3,770 square feet on 0.6 acres; Stone construction dating to 1880
