Building Details

Year Built 1925

Stories 2

Tenancy Multi

Listing Agency: RE/MAX 2000 Show Phone

Listed By: Mariann Owens Show Phone

Source: Cummingsrealtors

Added: Jul 24 Changed: Sep 13 Last Checked: Sep 14 at 6:49AM

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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 RE/MAX 2000

Investment Insights

Based on property information with market context.

This well maintained twin duplex provides two separate residences, with each floor featuring two bedrooms and two bathrooms. Kitchens and bathrooms were renovated a few years ago, and both levels include central air. Interior finishes include hardwood floors and carpeting, along with bright rooms. A foyer entrance on each level leads to the unit space, and there is laundry access in the basement serving both floors.

The property includes a detached two-car garage and a rear yard with a patio. It is positioned for convenience to transit, shopping, and Burholme Park, supporting everyday accessibility for residents.

With updated kitchens and baths, separate utilities, and independent laundry access, the layout supports comfortable day-to-day living across both floors.

Key Highlights

• Well‑maintained twin duplex built in 1925, offering two separate 2‑bedroom, 2‑bath units
• Both kitchens and bathrooms were renovated a few years ago
• Each floor has central air and separate utilities

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

$30,600

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

6.80%

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%

$612,000 $612.0K

Cap Rate 7%

$437,143 $437.1K

Cap Rate 9%

$340,000 $340.0K

Market Conditions

NOI Build-Up for 2,106 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

$46.8K $22.20/SF

− Vacancy

−$3.0K −$1.44/SF

EGI

$43.7K $20.76/SF

− OpEx

−$13.1K −$6.23/SF

NOI

$30.6K $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 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%

$612,000

Cap Rate 7%

$437,143

Cap Rate 9%

$340,000

Alternative Uses

Best Use

Multifamily LT 5

$437.1K

$382.5K – $510.0K (±1% cap)

NOI $30,600 @ 7.0% cap · market cap 6.80%

Second Best

Apartment 5plus

$406.5K

$355.7K – $474.2K (±1% cap)

NOI $28,453 @ 7.0% cap · market cap 6.32%

Theoretical Best

Specialty Retail

$1.21M

$1.06M – $1.41M (±1% cap)

NOI $84,798 @ 7.0% cap · market cap 18.84%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Law Firm Real Estate Agency Parking Lot & Garage Acupuncture Building Supply Bakery

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

2

Residential units

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,604

Businesses Nearby

Explore this area Business Placement

Demographics for 19012, PA

6,699

Population

2,314

Households

2.9

Avg Household Size

40

Median Age

43%

College-Educated

90%

High-School Grad

1.7 sq mi

ZIP Area

3,941

Density / Sq Mi

$117,614

Median Household Income

$53,216

Median Earnings

$1,226

Median Rent

$320,600

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes 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?

Duplex - Well maintained twin duplex offers two 2-bedroom, 2-bath units with updated kitchens and centralized air.

Where is this duplex located?

The property is located at 118 RYERS AVENUE Cheltenham, PA.

What is the asking price?

The asking price for this property is $450,000.

What are key features of this property?

This property features: Well‑maintained twin duplex built in 1925, offering two separate 2‑bedroom, 2‑bath units; Both kitchens and bathrooms were renovated a few years ago; Each floor has central air and separate utilities