Duplex with Nine Detached
New
For Sale
$339,900
202 GREENWAY Avenue, Darby, PA 19023
Multi-Family, DARBY, PA
Property Size1,328 SF
Lot Size0.15 Acres
Price / SF$255.95
Days on Market2
Property Features for 202 GREENWAY Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking
15
Parking features
Driveway, On Street, Paved or Surfaced, Fenced, Garage - Detached
Interior features
Bathroom - Tub Shower, Carpet
Appliances
Refrigerator, Stove, WaterHeater
Subdivision
CYNWYD
Elementary school district
WILLIAM PENN
Middle school district
WILLIAM PENN
High school district
WILLIAM PENN
Standard status
Active
Size
1,328 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Annual Amount
3609
Utilities
Heating system
Hot Water(Heating), Baseboard, Other (Heating)
Building Details
Year built
1920
Number of units
2
Building materials
Stucco
Listing Agency:
RE/MAX Access · RE/MAX International
(215) 400-2600
Listed By:
Terrance E Lee · License #RS294824
(215) 416-1176
Added: Aug 29
Last Checked: Aug 30 at 8:06AM
MLS# PADE2122620
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,328-square-foot duplex, built in 1920, includes two occupied one-bedroom apartments, each with a living area, kitchen, full bathroom, and appliance package. The property also offers a full unfinished basement with access from the first-floor unit, providing substantial storage space. Stucco construction, baseboard and hot water heating, and a combination of driveway, street, and detached garage parking are included.
Nine detached garages are part of the property, with six currently rented. The main parcel contains approximately 0.15 acres and measures about 51' x 126'. Two additional lots are included behind the three-car garage, with approximate dimensions of 54' x 23' and 36' x 18'. The additional parcels have a separate 3rd Street address. The property is located near schools, shopping, and public transportation in Darby, Pennsylvania.
Nine detached garages are part of the property, with six currently rented. The main parcel contains approximately 0.15 acres and measures about 51' x 126'. Two additional lots are included behind the three-car garage, with approximate dimensions of 54' x 23' and 36' x 18'. The additional parcels have a separate 3rd Street address. The property is located near schools, shopping, and public transportation in Darby, Pennsylvania.
Key Highlights
- Two occupied one‑bedroom rental units
- Nine detached garages; six are currently rented
- 1,328 square feet on approximately 0.15 acres
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
$14,556
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
4.28%
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%
$291,120
$291.1K
Cap Rate 7%
$207,943
$207.9K
Cap Rate 9%
$161,733
$161.7K
Market Conditions
NOI Build-Up for 1,328 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
$23.9K $18.00/SF
− Vacancy
−$3.1K −$2.34/SF
EGI
$20.8K $15.66/SF
− OpEx
−$6.2K −$4.70/SF
NOI
$14.6K $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%
$291,120
Cap Rate 7%
$207,943
Cap Rate 9%
$161,733
Alternative Uses
Best Use
Multifamily LT 5
$207.9K
$182.0K – $242.6K
NOI $14,556 @ 7.0% cap · market cap 4.28%
Second Best
Apartment 5plus
$190.2K
$166.4K – $221.9K
NOI $13,313 @ 7.0% cap · market cap 3.92%
Theoretical Best
Office A
$402.6K
$352.3K – $469.8K
NOI $28,185 @ 7.0% cap · market cap 8.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
878
Businesses Nearby
Explore this area
Business Placement
Demographics for 19023, PA
22,180
Population
9,089
Households
2.4
Avg Household Size
34
Median Age
17%
College-Educated
87%
High-School Grad
2.0 sq mi
ZIP Area
11,090
Density / Sq Mi
$48,962
Median Household Income
$37,110
Median Earnings
$1,240
Median Rent
$117,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two occupied one-bedroom units share a full unfinished basement, with appliances and garage parking supporting rental operations.
Where is this duplex located?
The property is located at 202 GREENWAY Avenue Darby, 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: Two occupied one‑bedroom rental units; Nine detached garages; six are currently rented; 1,328 square feet on approximately 0.15 acres
