Building Details

Building Size 2,100 SF

Year Built 1952

Listing Agency: Keller Williams Elite s***@awakenedproperties.com Show Phone

Listed By: Dan Zecher · License #RS346573 Show Phone

Source: Evrealestate

Added: May 15 Changed: Aug 10 Last Checked: Aug 11 at 7:24AM

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Investment Insights

Based on property information with market context.

This residential income property dates to 1952 and is located in Norwood, Pennsylvania. The property has a traditional exterior, driveway, natural gas service, forced-air heating, and a gas water heater. Interior features include unfinished space.

The property is situated in Delaware County and carries RES zoning. Its stated property size is 2,100.

Key Highlights

• 2,100 property size
• Built in 1952
• RES zoning

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

$21,052

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

8.68%

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%

$421,040 $421.0K

Cap Rate 7%

$300,743 $300.7K

Cap Rate 9%

$233,911 $233.9K

Market Conditions

NOI Build-Up for 2,100 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

$44.4K $21.12/SF

− Vacancy

−$6.1K −$2.89/SF

EGI

$38.3K $18.23/SF

− OpEx

−$17.2K −$8.20/SF

NOI

$21.1K $10.02/SF

Area

Delaware County, PA

Vacancy

13.70%

Lease Rate

$21.12 /SF/Yr

Expense Ratio

45.00%

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%

$421,040

Cap Rate 7%

$300,743

Cap Rate 9%

$233,911

Alternative Uses

Best Use

Apartment 5plus

$300.7K

$263.2K – $350.9K (±1% cap)

NOI $21,052 @ 7.0% cap · market cap 8.68%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$636.7K

$557.1K – $742.8K (±1% cap)

NOI $44,569 @ 7.0% cap · market cap 18.38%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Residential income properties

Suggested Use

Top Pick Real Estate Agency Law Firm Big Box & Wholesale Store Bakery Cafe & Coffee Shop Accounting Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

791

Businesses Nearby

Explore this area Business Placement

Demographics for 19074, PA

5,943

Population

2,513

Households

2.4

Avg Household Size

41

Median Age

26%

College-Educated

94%

High-School Grad

0.8 sq mi

ZIP Area

7,429

Density / Sq Mi

$89,135

Median Household Income

$49,098

Median Earnings

$1,247

Median Rent

$227,500

Median Home Value

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Residential income property - Residential property with natural gas, forced-air heating and a driveway.

Where is this residential income property located?

The property is located at 105 GARFIELD AVENUE Norwood, PA.

What is the asking price?

The asking price for this property is $242,500.

What are key features of this property?

This property features: 2,100 property size; Built in 1952; RES zoning