Brick Duplex with
New
For Sale
$349,972
104 N UNION Avenue, Lansdowne, PA 19050
Multi-Family, LANSDOWNE, PA
Property Size1,678 SF
Lot Size0.09 Acres
Price / SF$208.56
Days on Market2
Property Features for 104 N UNION Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
4
Parking features
Driveway
Elementary school district
WILLIAM PENN
Middle school district
WILLIAM PENN
High school district
WILLIAM PENN
Standard status
Active
Size
1,678 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
10389
Utilities
Heating system
Hot Water(Heating)
Building Details
Year built
1935
Number of units
1
Building materials
Brick
Architectural style
Colonial
Listing Agency:
RE/MAX Preferred - Newtown Square · RE/MAX International
(610) 325-4100
Listed By:
John A Gallagher · License #RS293961
(610) 505-7700
Added: Sep 1
Last Checked: Sep 2 at 12:06PM
MLS# PADE2122722
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.
Located at 104 N Union Avenue in Lansdowne, this 1,678-square-foot Colonial duplex was built in 1935 with brick construction. The upper residence includes two bedrooms and is occupied by a long-term tenant. The other residence spans the first and lower levels, offering three bedrooms, two full bathrooms, a living room, and a large kitchen. The lower level also contains laundry equipment and a separate exit.
The property sits on a 0.09-acre lot in Delaware County and includes driveway parking. Hot-water heating serves the building. Its two-unit layout provides distinct residential spaces within an established Lansdowne property.
The property sits on a 0.09-acre lot in Delaware County and includes driveway parking. Hot-water heating serves the building. Its two-unit layout provides distinct residential spaces within an established Lansdowne property.
Key Highlights
- Duplex with 1,678 square feet of building area
- Upper apartment offers 2 bedrooms and has a long‑term tenant
- Lower residence includes 3 bedrooms and 2 full bathrooms
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
$18,392
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
5.26%
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%
$367,840
$367.8K
Cap Rate 7%
$262,743
$262.7K
Cap Rate 9%
$204,356
$204.4K
Market Conditions
NOI Build-Up for 1,678 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
$30.2K $18.00/SF
− Vacancy
−$3.9K −$2.34/SF
EGI
$26.3K $15.66/SF
− OpEx
−$7.9K −$4.70/SF
NOI
$18.4K $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%
$367,840
Cap Rate 7%
$262,743
Cap Rate 9%
$204,356
Alternative Uses
Best Use
Multifamily LT 5
$262.7K
$229.9K – $306.5K
NOI $18,392 @ 7.0% cap · market cap 5.26%
Second Best
Apartment 5plus
$240.3K
$210.3K – $280.4K
NOI $16,821 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$508.8K
$445.2K – $593.6K
NOI $35,613 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,256
Businesses Nearby
Explore this area
Business Placement
Demographics for 19050, PA
29,176
Population
12,695
Households
2.3
Avg Household Size
40
Median Age
30%
College-Educated
92%
High-School Grad
3.7 sq mi
ZIP Area
7,885
Density / Sq Mi
$62,517
Median Household Income
$44,408
Median Earnings
$1,166
Median Rent
$188,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-level residential income property with a tenant-occupied apartment and on-site driveway parking.
Where is this duplex located?
The property is located at 104 N UNION Avenue Lansdowne, PA.
What is the asking price?
The asking price for this property is $349,972.
What are key features of this property?
This property features: Duplex with 1,678 square feet of building area; Upper apartment offers 2 bedrooms and has a long‑term tenant; Lower residence includes 3 bedrooms and 2 full bathrooms
