First-Floor Residential Income
For Sale
$299,900
180 DRUMMERS LANE, Wayne, PA 19087
First-floor unit with a sliding glass door opening to grounds and views across the golf course.
Property Size1,004 SF
Days on Market28
Property Features for 180 DRUMMERS LANE
General Information
Standard status
Active
Size
1,004 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,549
Building Details
Building Size
1,004 SF
Year Built
1970
Listing Agency:
BHHS Fox & Roach Wayne-Devon
(610) 715-8727
Listed By:
Megan A McGowan · License #RS275508
(610) 715-8727
Source:
Lizclarkrealestate
Added: Jul 15
Changed: Aug 8
Last Checked: Aug 10 at 10:07AM
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 BHHS Fox & Roach Wayne-Devon
Investment Insights
Based on property information with market context.
This first-floor two-bedroom, two-bath unit is located in the Silas Deane Building at 180 Drummers Lane in Wayne. A sliding glass door opens toward the grounds, with views across the Glenhardie Country Club's 9-hole golf course. Fresh paint and new carpet are already in place, while the residence remains suited to future owner updates.
The monthly fee includes gas, heat, water, and sewer. Residents may separately join the private club, which offers golf, tennis, and swimming. The property was built in 1970 and is served by Tredyffrin-Easttown Schools.
The monthly fee includes gas, heat, water, and sewer. Residents may separately join the private club, which offers golf, tennis, and swimming. The property was built in 1970 and is served by Tredyffrin-Easttown Schools.
Key Highlights
- Two‑bedroom, two‑bath first‑floor unit
- Views of Glenhardie Country Club's 9‑hole golf course
- Sliding glass door opens to the grounds
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
$10,065
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
3.36%
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%
$201,300
$201.3K
Cap Rate 7%
$143,786
$143.8K
Cap Rate 9%
$111,833
$111.8K
Market Conditions
NOI Build-Up for 1,004 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
$21.2K $21.12/SF
− Vacancy
−$2.9K −$2.89/SF
EGI
$18.3K $18.23/SF
− OpEx
−$8.2K −$8.20/SF
NOI
$10.1K $10.02/SF
Area
Delaware County, PA
Vacancy
13.70%
Lease Rate
$21.12 /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%
$201,300
Cap Rate 7%
$143,786
Cap Rate 9%
$111,833
Alternative Uses
Best Use
Apartment 5plus
$143.8K
$125.8K – $167.8K
NOI $10,065 @ 7.0% cap · market cap 3.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$304.4K
$266.4K – $355.1K
NOI $21,308 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
921
Businesses Nearby
Explore this area
Business Placement
Demographics for 19087, PA
33,501
Population
12,829
Households
2.6
Avg Household Size
40
Median Age
78%
College-Educated
97%
High-School Grad
15.6 sq mi
ZIP Area
2,148
Density / Sq Mi
$165,451
Median Household Income
$71,234
Median Earnings
$2,130
Median Rent
$693,200
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - First-floor unit with a sliding glass door opening to grounds and views across the golf course.
Where is this residential income property located?
The property is located at 180 DRUMMERS LANE Wayne, 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: Two‑bedroom, two‑bath first‑floor unit; Views of Glenhardie Country Club's 9‑hole golf course; Sliding glass door opens to the grounds
