Remodeled Residential Income Property with
For Sale
$339,900
1630 WELSH ROAD Unit 40E, Philadelphia, PA 19115
Corner-unit condo with updated finishes, vaulted ceilings, custom storage, and access to a community pool.
Property Size1,752 SF
Days on Market180
Property Features for 1630 WELSH ROAD Unit 40E
General Information
Standard status
Active
Size
1,752 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,218
Amenities
community pool
Building Details
Building Size
1,752 SF
Year Built
2007
Listing Agency:
Elite Realty Group Unl. Inc.
Listed By:
Ilya Vorobey · License #RS271316
(267) 767-8293
Source:
Lizclarkrealestate
Added: Mar 27
Changed: Sep 17
Last Checked: Sep 21 at 9:01AM
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 Elite Realty Group Unl. Inc.
Investment Insights
Based on property information with market context.
This second-floor corner condo, built in 2007, has been remodeled with fresh paint and laminate flooring across the main living areas. The kitchen includes quartz countertops, stainless steel appliances, and ample cabinetry, while updated tile finishes enhance the bathrooms. Custom closets provide organized storage throughout the residence.
A vaulted ceiling adds volume to the interior, and the loft expands the usable living area with a half bathroom. The private corner layout includes a separate entrance and brings additional natural light into the home. Residents also have access to a community pool.
A vaulted ceiling adds volume to the interior, and the loft expands the usable living area with a half bathroom. The private corner layout includes a separate entrance and brings additional natural light into the home. Residents also have access to a community pool.
Key Highlights
- Second‑floor corner condo with separate entrance
- Remodeled interior with fresh paint and laminate flooring
- Kitchen equipped with quartz countertops 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
$27,558
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
8.11%
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%
$551,160
$551.2K
Cap Rate 7%
$393,686
$393.7K
Cap Rate 9%
$306,200
$306.2K
Market Conditions
NOI Build-Up for 1,752 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
$53.2K $30.36/SF
− Vacancy
−$3.1K −$1.76/SF
EGI
$50.1K $28.60/SF
− OpEx
−$22.5K −$12.87/SF
NOI
$27.6K $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%
$551,160
Cap Rate 7%
$393,686
Cap Rate 9%
$306,200
Alternative Uses
Best Use
Apartment 5plus
$393.7K
$344.5K – $459.3K
NOI $27,558 @ 7.0% cap · market cap 8.11%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$427.1K
$373.7K – $498.3K
NOI $29,898 @ 7.0% cap · market cap 8.80%
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 - Corner-unit condo with updated finishes, vaulted ceilings, custom storage, and access to a community pool.
Where is this residential income property located?
The property is located at 1630 WELSH ROAD Unit 40E Philadelphia, PA.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: Second‑floor corner condo with separate entrance; Remodeled interior with fresh paint and laminate flooring; Kitchen equipped with quartz countertops and stainless steel appliances
