Two-Unit Duplex
For Sale
$349,972
104 N Union Ave, Lansdowne, PA 19050
Residential income property with a two-bedroom upper apartment and a larger lower-level unit configuration.
Property Size1,678 SF
Price / SF$208.56
Days on Market12
Property Features for 104 N Union Ave
General Information
Standard status
Active
Size
1,678 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,389
Amenities
washer and dryer
Listing Agency:
RE/MAX Preferred - Newtown Square
(610) 325-4100
Listed By:
John A Gallagher · License #RS293961
(610) 505-7700
Source:
Exprealty
Added: Aug 27
Changed: Sep 6
Last Checked: Sep 6 at 2:52PM
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 RE/MAX Preferred - Newtown Square
Investment Insights
Based on property information with market context.
This 1,678-square-foot duplex at 104 N Union Ave includes two residential units with distinct layouts. The second-floor apartment offers two bedrooms and is occupied by a long-time tenant. The first-floor unit includes a bedroom, full bathroom, living room, and large kitchen, while its lower level adds two bedrooms, another full bathroom, a washer and dryer, and an exterior exit.
The property is located in Lansdowne, PA. Its two-unit configuration provides a residential income setup with varied living arrangements across the upper, main, and lower levels.
The property is located in Lansdowne, PA. Its two-unit configuration provides a residential income setup with varied living arrangements across the upper, main, and lower levels.
Key Highlights
- 1,678‑square‑foot duplex at 104 N Union Ave, Lansdowne, PA
- Second‑floor apartment has 2 bedrooms and a long‑time tenant
- First‑floor unit includes 3 bedrooms, a full bathroom, living room, and large kitchen
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
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Frequently Asked Questions
What type of property is this?
Duplex - Residential income property with a two-bedroom upper apartment and a larger lower-level unit configuration.
Where is this duplex located?
The property is located at 104 N Union Ave 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: 1,678‑square‑foot duplex at 104 N Union Ave, Lansdowne, PA; Second‑floor apartment has 2 bedrooms and a long‑time tenant; First‑floor unit includes 3 bedrooms, a full bathroom, living room, and large kitchen
