18-Unit Residential Income
For Sale
$299,900
1651 MARKLEY STREET, Norristown, PA 19401
New condominium development with open-plan interiors, elevator access, and off-street parking.
Property Size1,080 SF
Days on Market307
Property Features for 1651 MARKLEY STREET
General Information
Standard status
Active
Size
1,080 SF
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$1.00
Amenities
elevator
in-unit laundry hookups
off-street parking
Building Details
Building Size
1,080 SF
Year Built
2026
Construction
insulated concrete
Listing Agency:
Egan Real Estate
Listed By:
Patrick G Egan · License #RM421478
(484) 919-0178
Source:
Lizclarkrealestate
Added: Jan 1
Changed: Oct 31
Last Checked: Nov 3 at 2:38PM
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 Egan Real Estate
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Investment Insights
Based on property information with market context.
Completed in 2026, this 18-unit condominium development offers two-bedroom, two-bath residences with open living, dining, and kitchen areas. Interiors include luxury vinyl plank flooring, granite kitchen countertops, a center island, and stainless steel range, dishwasher, and microwave. Each primary suite has a walk-in closet and private ensuite bath.
Bathrooms feature tile flooring, with one walk-in shower and one tub/shower combination per residence. Insulated concrete construction, in-unit laundry hookups, an elevator-equipped building, and off-street parking add to the property’s physical features. The property is located at 1651 Markley Street in Norristown, Pennsylvania.
Bathrooms feature tile flooring, with one walk-in shower and one tub/shower combination per residence. Insulated concrete construction, in-unit laundry hookups, an elevator-equipped building, and off-street parking add to the property’s physical features. The property is located at 1651 Markley Street in Norristown, Pennsylvania.
Key Highlights
- 18‑unit condominium development completed in 2026
- Two‑bedroom, two‑bath residences with open‑concept living areas
- Granite countertops, center island, and stainless steel kitchen appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,591
Cap Rate
4.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$291,820
$291.8K
Cap Rate 7%
$208,443
$208.4K
Cap Rate 9%
$162,122
$162.1K
Market Conditions
NOI Build-Up for 1,080 SF
Gross rent
$28.3K $26.16/SF
− Vacancy
−$1.7K −$1.60/SF
EGI
$26.5K $24.56/SF
− OpEx
−$11.9K −$11.05/SF
NOI
$14.6K $13.51/SF
Area
Montgomery County, PA
Vacancy
6.10%
Lease Rate
$26.16 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$291,820
Cap Rate 7%
$208,443
Cap Rate 9%
$162,122
Alternative Uses
Best Use
Apartment 5plus
$208.4K
$182.4K – $243.2K
NOI $14,591 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$621.2K
$543.6K – $724.8K
NOI $43,486 @ 7.0% cap · market cap 14.50%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
903
Businesses Nearby
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Business Placement
Demographics for 19401, PA
43,414
Population
18,236
Households
2.4
Avg Household Size
36
Median Age
28%
College-Educated
86%
High-School Grad
6.2 sq mi
ZIP Area
7,002
Density / Sq Mi
$68,646
Median Household Income
$38,050
Median Earnings
$1,392
Median Rent
$225,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - New condominium development with open-plan interiors, elevator access, and off-street parking.
Where is this residential income property located?
The property is located at 1651 MARKLEY STREET Norristown, PA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 18‑unit condominium development completed in 2026; Two‑bedroom, two‑bath residences with open‑concept living areas; Granite countertops, center island, and stainless steel kitchen appliances
