Building Details

Year built 1952

Number of units 1

Building materials Vinyl Siding, Aluminum Siding

Architectural style Other

Listing Agency: Keller Williams Elite · Keller Williams Realty w***@gmail.com Show Phone

Listed By: Dan J Zecher · License #RS346573 Show Phone

Added: May 11 Changed: Aug 4 Last Checked: Aug 11 at 6:06PM

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MLS# PADE2114254

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 two-story detached home is offered for sale as-is and presents a conversion or renovation opportunity. The property is currently arranged with five bedrooms and three bathrooms, and it includes original hardwood floors throughout. A stone fireplace serves as a focal point in the first-floor living room, while the kitchen has been stripped and opens to the living and dining areas for redesign flexibility. The home is also set up with a primary bedroom and en-suite bath, plus two additional full bathrooms. Natural gas heating and a natural gas hot water heater are in place. Some demo work has already been completed, providing a head start for the next owner’s plans.

The property has been used as a multi-unit in the past and features an existing separate entrance to the top floor, along with two electric meters. Any changes to use or occupancy based on a buyer’s plans would be subject to local borough approval.

For investors and owner-occupants looking for a residential income project, the existing layout and multi-unit history can support renovation toward either a multi-unit configuration or a single-family setup. Cash sale only is required for this offering, and buyer renovation and occupancy plans must align with applicable local approvals.

Key Highlights

• Multi‑unit or single‑family conversion potential.
• Separate entrance to the top floor and two electric meters already in place.
• Original hardwood floors throughout.

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

Single family 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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What type of property is this? Where is this single family properties located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Single family property - Detached two-story property with prior multi-unit configuration and separate entrance, offered as-is for renovation.

Where is this single family 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: Multi‑unit or single‑family conversion potential.; Separate entrance to the top floor and two electric meters already in place.; Original hardwood floors throughout.