Building Details

Building Size 810 SF

Year Built 1967

Listing Agency: Coldwell Banker Hearthside-Doylestown m***@marylouerk.com Show Phone

Listed By: Mary Lou Erk · License #AB049608L Show Phone

Source: Lizclarkrealestate

Added: Aug 20 Changed: Aug 29 Last Checked: Aug 29 at 1:27PM

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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 Coldwell Banker Hearthside-Doylestown

Investment Insights

Based on property information with market context.

This condominium unit at Georgetown of Philadelphia overlooks landscaped grounds, mature trees, and a park across the street, with views available from the balcony and living room. The association maintains the exterior, roof, landscaping, snow removal, trash and recycling, and major mechanical systems serving each residence, including the heater, central air conditioning, and hot water heater. The hot water heater was replaced in 2021.

Community amenities include an outdoor swimming pool, tennis and pickleball courts, clubhouse, walking trails, guest parking, and organized social activities. The property is near Penllyn Regional Rail station, downtown Ambler, Whole Foods, Weavers Way, a movie theater, Act III Playhouse, Wissahickon Trails, Wings Field Airport, and Cedarbrook Country Club. A one-year home warranty is included for buyers.

Key Highlights

• Balcony and living room views of landscaped grounds, mature trees, and the park across the street
• Association maintains the heater, central air conditioning, and hot water heater
• Hot water heater replaced in 2021

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

$10,943

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

4.05%

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%

$218,860 $218.9K

Cap Rate 7%

$156,329 $156.3K

Cap Rate 9%

$121,589 $121.6K

Market Conditions

NOI Build-Up for 810 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

$21.2K $26.16/SF

− Vacancy

−$1.3K −$1.60/SF

EGI

$19.9K $24.56/SF

− OpEx

−$9.0K −$11.05/SF

NOI

$10.9K $13.51/SF

Area

Montgomery County, PA

Vacancy

6.10%

Lease Rate

$26.16 /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%

$218,860

Cap Rate 7%

$156,329

Cap Rate 9%

$121,589

Alternative Uses

Best Use

Apartment 5plus

$156.3K

$136.8K – $182.4K (±1% cap)

NOI $10,943 @ 7.0% cap · market cap 4.05%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$465.9K

$407.7K – $543.6K (±1% cap)

NOI $32,614 @ 7.0% cap · market cap 12.08%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Residential income properties

Suggested Use

Top Pick Hair Salon Parking Lot & Garage Nail Salon HVAC Service Restaurant Spa & Massage Center

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

Lease Details

1

Residential units

Location Intelligence

Trade Area within ½ mile

196

Businesses Nearby

Explore this area Business Placement

Demographics for 19422, PA

20,117

Population

8,179

Households

2.5

Avg Household Size

46

Median Age

74%

College-Educated

99%

High-School Grad

12.3 sq mi

ZIP Area

1,636

Density / Sq Mi

$153,344

Median Household Income

$82,873

Median Earnings

$2,151

Median Rent

$572,600

Median Home Value

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Frequently Asked Questions

What type of property is this?

Residential income property - Condominium unit with community pool, courts, trails, clubhouse, and association-maintained major mechanical systems.

Where is this residential income property located?

The property is located at 115 MACKLENBURG DRIVE Unit L 20G Penllyn, PA.

What is the asking price?

The asking price for this property is $270,000.

What are key features of this property?

This property features: Balcony and living room views of landscaped grounds, mature trees, and the park across the street; Association maintains the heater, central air conditioning, and hot water heater; Hot water heater replaced in 2021