Well-Maintained Duplex with Two 2BR
For Sale
$395,000
Pending
114 Pilgrim Lane, Drexel Hill, PA 19026
Duplex offers two 2-bedroom, 1-bath units, each currently rented, with off-street and on-street parking.
Property Size1,856 SF
Days on Market176
Property Features for 114 Pilgrim Lane
General Information
Standard status
Pending
Size
1,856 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RESIDENTIAL
Occupancy
100%
Additional Details
Business Included
Yes
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,674
Amenities
No
No Pool
Above Grade, Below Grade
Building Details
Year Built
1940
Tenancy
Multi
Listing Agency:
Weichert, Realtors - Cornerstone
Listed By:
Danielle R. Barbone · License #RS366725
(717) 327-5538
Source:
Compass
Added: Mar 13
Changed: Aug 8
Last Checked: Jul 20 at 6:40PM
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 Weichert, Realtors - Cornerstone
Investment Insights
Based on property information with market context.
114 Pilgrim Lane is a well-maintained duplex in Drexel Hill offering two spacious 2-bedroom, 1-bath units. Each unit includes functional living layouts and storage space. Off-street and on-street parking are available, supporting convenient tenant access.
The property is located on a quiet, tree-lined street. It provides quick access to major commuter routes including Route 1, West Chester Pike, and the Blue Route, with nearby shopping and other amenities.
Both units are currently rented, offering an income-producing setup for an investor seeking a turnkey duplex.
The property is located on a quiet, tree-lined street. It provides quick access to major commuter routes including Route 1, West Chester Pike, and the Blue Route, with nearby shopping and other amenities.
Both units are currently rented, offering an income-producing setup for an investor seeking a turnkey duplex.
Key Highlights
- Well‑maintained duplex built in 1940 on a quiet, tree‑lined street in Drexel Hill
- Two spacious 2‑bedroom, 1‑bath units, each with storage space
- Both units are currently rented
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
$20,343
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
5.15%
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%
$406,860
$406.9K
Cap Rate 7%
$290,614
$290.6K
Cap Rate 9%
$226,033
$226.0K
Market Conditions
NOI Build-Up for 1,856 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
$33.4K $18.00/SF
− Vacancy
−$4.3K −$2.34/SF
EGI
$29.1K $15.66/SF
− OpEx
−$8.7K −$4.70/SF
NOI
$20.3K $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%
$406,860
Cap Rate 7%
$290,614
Cap Rate 9%
$226,033
Alternative Uses
Best Use
Multifamily LT 5
$290.6K
$254.3K – $339.1K
NOI $20,343 @ 7.0% cap · market cap 5.15%
Second Best
Apartment 5plus
$265.8K
$232.6K – $310.1K
NOI $18,606 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$562.7K
$492.4K – $656.5K
NOI $39,390 @ 7.0% cap · market cap 9.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
773
Businesses Nearby
Explore this area
Business Placement
Demographics for 19026, PA
32,021
Population
13,643
Households
2.3
Avg Household Size
39
Median Age
46%
College-Educated
94%
High-School Grad
3.6 sq mi
ZIP Area
8,895
Density / Sq Mi
$89,079
Median Household Income
$50,930
Median Earnings
$1,316
Median Rent
$243,000
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 - Duplex offers two 2-bedroom, 1-bath units, each currently rented, with off-street and on-street parking.
Where is this duplex located?
The property is located at 114 Pilgrim Lane Drexel Hill, PA.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Well‑maintained duplex built in 1940 on a quiet, tree‑lined street in Drexel Hill; Two spacious 2‑bedroom, 1‑bath units, each with storage space; Both units are currently rented
