Updated Two-Unit
New
For Sale
$285,000
122 E BERKLEY AVENUE, Clifton Heights, PA 19018
Two separate units with individual utilities, private access points, and shared outdoor space.
Property Size1,600 SF
Price / SF$178.13
Days on Market4
Property Features for 122 E BERKLEY AVENUE
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Duplex
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Building Details
Year Built
1924
Listing Agency:
RE/MAX Preferred - Newtown Square
(610) 325-4100
Listed By:
Mary G Ricciardi · License #RS271222
(610) 324-1038
Source:
Cummingsrealtors
Added: Sep 18
Changed: Sep 21
Last Checked: Sep 21 at 6:53AM
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 Preferred - Newtown Square
Investment Insights
Based on property information with market context.
This duplex contains two distinct units arranged around a common foyer. The first-floor Unit A offers 1 bedroom and 1 bath, a kitchen updated in 2020, a bathroom completed in 2024, washer/dryer hookups, and access toward the rear yard. Unit B occupies the second and third floors with 2 bedrooms and 1 bath, an upgraded kitchen, a new refrigerator, and newer stainless steel appliances. The unfinished basement provides storage, exterior access, interior access from the first floor, and separate utilities for both units.
Property improvements include a roof replacement in 2018, basement electrical work completed in 2025, sewer pipe replacement in 2026, storm-door replacements, most windows replaced in 2024, and hot water heaters installed in 2020 and 2024. Heaters date to 2004 and 2017, and new carpet was installed in 2026. The property also features a front porch, a rear landing, and a large backyard. SEPTA trolley and bus service is located at the end of the street.
Property improvements include a roof replacement in 2018, basement electrical work completed in 2025, sewer pipe replacement in 2026, storm-door replacements, most windows replaced in 2024, and hot water heaters installed in 2020 and 2024. Heaters date to 2004 and 2017, and new carpet was installed in 2026. The property also features a front porch, a rear landing, and a large backyard. SEPTA trolley and bus service is located at the end of the street.
Key Highlights
- Two‑unit duplex with a 1‑bedroom and 2‑bedroom layout
- Unit A kitchen updated in 2020 and bathroom completed in 2024
- Unit B spans the second and third floors and includes upgraded kitchen appliances
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
$17,537
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
6.15%
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%
$350,740
$350.7K
Cap Rate 7%
$250,529
$250.5K
Cap Rate 9%
$194,856
$194.9K
Market Conditions
NOI Build-Up for 1,600 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
$28.8K $18.00/SF
− Vacancy
−$3.7K −$2.34/SF
EGI
$25.1K $15.66/SF
− OpEx
−$7.5K −$4.70/SF
NOI
$17.5K $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%
$350,740
Cap Rate 7%
$250,529
Cap Rate 9%
$194,856
Alternative Uses
Best Use
Multifamily LT 5
$250.5K
$219.2K – $292.3K
NOI $17,537 @ 7.0% cap · market cap 6.15%
Second Best
Apartment 5plus
$229.1K
$200.5K – $267.3K
NOI $16,039 @ 7.0% cap · market cap 5.63%
Theoretical Best
Office A
$485.1K
$424.5K – $566.0K
NOI $33,957 @ 7.0% cap · market cap 11.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
741
Businesses Nearby
Explore this area
Business Placement
Demographics for 19018, PA
23,664
Population
10,201
Households
2.3
Avg Household Size
38
Median Age
30%
College-Educated
92%
High-School Grad
2.7 sq mi
ZIP Area
8,764
Density / Sq Mi
$73,451
Median Household Income
$46,387
Median Earnings
$1,346
Median Rent
$215,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate units with individual utilities, private access points, and shared outdoor space.
Where is this duplex located?
The property is located at 122 E BERKLEY AVENUE Clifton Heights, PA.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Two‑unit duplex with a 1‑bedroom and 2‑bedroom layout; Unit A kitchen updated in 2020 and bathroom completed in 2024; Unit B spans the second and third floors and includes upgraded kitchen appliances
