Duplex with Upper
New
For Sale
$375,000
1708 HOLMES AVENUE, Prospect Park, PA 19076
Two matching units each include a kitchen, full bathroom, bedrooms, and living area.
Property Size2,080 SF
Price / SF$180.29
Days on Market4
Property Features for 1708 HOLMES AVENUE
General Information
Standard status
Active
Size
2,080 SF
Total Parking Spaces
6
Property subtype
Duplex
Additional Details
Multifamily Units
2
Amenities
fenced-in backyard
lower patio
upper deck
Building Details
Year Built
1969
Year Renovated
2023
Stories
2
Listing Agency:
Keller Williams Real Estate -Exton
(610) 363-4300
Listed By:
Julia Smith
(215) 353-3368
Source:
Cummingsrealtors
Added: Sep 22
Changed: Sep 24
Last Checked: Sep 24 at 3:05PM
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 Keller Williams Real Estate -Exton
Investment Insights
Based on property information with market context.
Built in 1969, this 2,080-square-foot duplex contains two units with matching layouts. Each has bedrooms, a full bathroom, a kitchen, and a living area. The outdoor space includes a fenced backyard, a patio at the lower level, and an upper deck; the driveway accommodates up to six vehicles.
Improvements include a roof and gutters replaced in 2020, bathroom renovations on both floors in 2020 and 2021, and separate HVAC systems for each floor installed in those same years. Exterior doors and second-floor windows were replaced in 2023, while first-floor windows were replaced in 2021.
Improvements include a roof and gutters replaced in 2020, bathroom renovations on both floors in 2020 and 2021, and separate HVAC systems for each floor installed in those same years. Exterior doors and second-floor windows were replaced in 2023, while first-floor windows were replaced in 2021.
Key Highlights
- Two matching units, each with bedrooms, a full bathroom, kitchen, and living area
- 2,080‑square‑foot duplex built in 1969
- Fenced backyard with a lower‑level patio and upper deck
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
$22,798
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
6.08%
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%
$455,960
$456.0K
Cap Rate 7%
$325,686
$325.7K
Cap Rate 9%
$253,311
$253.3K
Market Conditions
NOI Build-Up for 2,080 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
$37.4K $18.00/SF
− Vacancy
−$4.9K −$2.34/SF
EGI
$32.6K $15.66/SF
− OpEx
−$9.8K −$4.70/SF
NOI
$22.8K $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%
$455,960
Cap Rate 7%
$325,686
Cap Rate 9%
$253,311
Alternative Uses
Best Use
Multifamily LT 5
$325.7K
$285.0K – $380.0K
NOI $22,798 @ 7.0% cap · market cap 6.08%
Second Best
Apartment 5plus
$297.9K
$260.6K – $347.5K
NOI $20,851 @ 7.0% cap · market cap 5.56%
Theoretical Best
Office A
$630.6K
$551.8K – $735.7K
NOI $44,144 @ 7.0% cap · market cap 11.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
900
Businesses Nearby
Explore this area
Business Placement
Demographics for 19076, PA
6,488
Population
2,680
Households
2.4
Avg Household Size
39
Median Age
23%
College-Educated
93%
High-School Grad
0.7 sq mi
ZIP Area
9,269
Density / Sq Mi
$65,238
Median Household Income
$43,588
Median Earnings
$1,154
Median Rent
$239,300
Median Home Value
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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 matching units each include a kitchen, full bathroom, bedrooms, and living area.
Where is this duplex located?
The property is located at 1708 HOLMES AVENUE Prospect Park, PA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two matching units, each with bedrooms, a full bathroom, kitchen, and living area; 2,080‑square‑foot duplex built in 1969; Fenced backyard with a lower‑level patio and upper deck
