Residential Income Property with Pool
For Sale
$299,000
1630 WELSH ROAD #3A, Philadelphia, PA 19115
Well-maintained condominium unit with private entry, assigned parking, open living areas, and community amenities.
Property Size1,344 SF
Days on Market148
Property Features for 1630 WELSH ROAD #3A
General Information
Standard status
Active
Size
1,344 SF
Total Parking Spaces
1
Property subtype
Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Amenities
clubhouse
swimming pool
Building Details
Building Size
1,344 SF
Year Built
2007
Listing Agency:
Legal Real Estate LLC
(215) 965-9700
Listed By:
Daniel G Loza · License #RM422588
(215) 965-9700
Source:
Tmft.kw
Added: Apr 7
Changed: Aug 30
Last Checked: Sep 1 at 2:44PM
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 Legal Real Estate LLC
Investment Insights
Based on property information with market context.
Located at 1630 Welsh Road #3A in Philadelphia, this residential income property is a condominium unit built in 2007. The home features 9-foot ceilings, oversized windows, hardwood flooring throughout the living area, and an open layout with additional living-room storage. The kitchen includes granite countertops, ceramic tile floors and backsplash, and stainless steel appliances. A separate laundry room provides a washer, dryer, and utility tub, while the primary suite includes a walk-in closet and a spacious bathroom.
The unit has a private, well-lit entrance and an assigned parking space near the door. Community amenities include a clubhouse and swimming pool. The condo fee covers water, sewer, landscaping, snow removal, and trash. Shopping, restaurants, and public transportation are within walking distance. Furniture, washer, dryer, and refrigerator are 2 years old and negotiable.
The unit has a private, well-lit entrance and an assigned parking space near the door. Community amenities include a clubhouse and swimming pool. The condo fee covers water, sewer, landscaping, snow removal, and trash. Shopping, restaurants, and public transportation are within walking distance. Furniture, washer, dryer, and refrigerator are 2 years old and negotiable.
Key Highlights
- 9‑foot ceilings and oversized windows provide a bright interior
- Hardwood flooring spans the living area
- Kitchen includes granite counters, ceramic tile finishes, and stainless steel 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
$21,140
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
7.07%
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%
$422,800
$422.8K
Cap Rate 7%
$302,000
$302.0K
Cap Rate 9%
$234,889
$234.9K
Market Conditions
NOI Build-Up for 1,344 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
$40.8K $30.36/SF
− Vacancy
−$2.4K −$1.76/SF
EGI
$38.4K $28.60/SF
− OpEx
−$17.3K −$12.87/SF
NOI
$21.1K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /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%
$422,800
Cap Rate 7%
$302,000
Cap Rate 9%
$234,889
Alternative Uses
Best Use
Apartment 5plus
$302.0K
$264.3K – $352.3K
NOI $21,140 @ 7.0% cap · market cap 7.07%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$327.6K
$286.7K – $382.3K
NOI $22,935 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,322
Businesses Nearby
Explore this area
Business Placement
Demographics for 19115, PA
35,919
Population
15,071
Households
2.4
Avg Household Size
44
Median Age
37%
College-Educated
92%
High-School Grad
5.2 sq mi
ZIP Area
6,908
Density / Sq Mi
$70,388
Median Household Income
$48,949
Median Earnings
$1,230
Median Rent
$330,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Well-maintained condominium unit with private entry, assigned parking, open living areas, and community amenities.
Where is this residential income property located?
The property is located at 1630 WELSH ROAD #3A Philadelphia, PA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 9‑foot ceilings and oversized windows provide a bright interior; Hardwood flooring spans the living area; Kitchen includes granite counters, ceramic tile finishes, and stainless steel appliances
