Two-Unit Duplex with Separate
New
For Sale
$489,900
115 SUMMIT AVENUE, Willow Grove, PA 19090
The upper apartment has its own entrance, while the lower unit offers a two-bedroom, two-bath layout.
Property Size2,202 SF
Lot Size0.17 Acres
Days on Market7
Property Features for 115 SUMMIT AVENUE
General Information
Standard status
Active
Size
2,202 SF
Lot size
0.17 Acres
Property subtype
Duplex
Units
Unit Mix
1 x 2BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,137
Amenities
covered front porch
full basement
Building Details
Building Size
2,202 SF
Year Built
1922
Buildings
1
Stories
2
Listing Agency:
EXP Realty, LLC
Listed By:
Thomas C Smeland Jr. · License #AB066226
(215) 262-2497
Source:
Lizclarkrealestate
Added: Oct 20
Changed: Oct 25
Last Checked: Oct 24 at 11:16PM
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 EXP Realty, LLC
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Investment Insights
Based on property information with market context.
Built in 1922, this duplex contains two apartments: a two-bedroom, two-bath unit on the first floor and a one-bedroom, one-bath apartment above with a separate entrance. Updated bathrooms, a full basement, a detached garage, and a driveway are also part of the property. The lot measures 0.17 acres.
A bus stop and commuter rail station are each less than a mile away. The property is in Willow Grove, Pennsylvania.
A bus stop and commuter rail station are each less than a mile away. The property is in Willow Grove, Pennsylvania.
Key Highlights
- Two apartments: first‑floor unit with 2 bedrooms and 2 baths; upper unit with 1 bedroom and 1 bath
- Separate entrance for the upper‑floor apartment
- 0.17‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,995
Cap Rate
6.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$639,900
$639.9K
Cap Rate 7%
$457,071
$457.1K
Cap Rate 9%
$355,500
$355.5K
Market Conditions
NOI Build-Up for 2,202 SF
Gross rent
$48.9K $22.20/SF
− Vacancy
−$3.2K −$1.44/SF
EGI
$45.7K $20.76/SF
− OpEx
−$13.7K −$6.23/SF
NOI
$32.0K $14.53/SF
Area
Montgomery County, PA
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$639,900
Cap Rate 7%
$457,071
Cap Rate 9%
$355,500
Alternative Uses
Best Use
Multifamily LT 5
$457.1K
$399.9K – $533.3K
NOI $31,995 @ 7.0% cap · market cap 6.53%
Second Best
Apartment 5plus
$425.0K
$371.9K – $495.8K
NOI $29,750 @ 7.0% cap · market cap 6.07%
Theoretical Best
Specialty Retail
$1.27M
$1.11M – $1.48M
NOI $88,663 @ 7.0% cap · market cap 18.10%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,337
Businesses Nearby
Explore this area
Business Placement
Demographics for 19090, PA
20,180
Population
8,141
Households
2.5
Avg Household Size
39
Median Age
43%
College-Educated
95%
High-School Grad
4.6 sq mi
ZIP Area
4,387
Density / Sq Mi
$97,341
Median Household Income
$55,254
Median Earnings
$1,606
Median Rent
$338,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The upper apartment has its own entrance, while the lower unit offers a two-bedroom, two-bath layout.
Where is this duplex located?
The property is located at 115 SUMMIT AVENUE Willow Grove, PA.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: Two apartments: first‑floor unit with 2 bedrooms and 2 baths; upper unit with 1 bedroom and 1 bath; Separate entrance for the upper‑floor apartment; 0.17‑acre lot
