Renovated Duplex With New
For Sale
$235,000
209 N 2ND STREET, Darby, PA 19023
Two-unit property with one updated apartment and a month-to-month occupant in the second unit.
Property Size1,584 SF
Days on Market75
Property Features for 209 N 2ND STREET
General Information
Standard status
Active
Size
1,584 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,675
Building Details
Building Size
1,584 SF
Year Built
1930
Listing Agency:
Long & Foster Real Estate, Inc.
Listed By:
Robert Needs · License #RS368659
(302) 893-2900
Source:
Patmckennarealtors
Added: Jul 10
Changed: Sep 20
Last Checked: Sep 21 at 7:46AM
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 Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
This duplex includes two separate residential units. The first-floor apartment has undergone renovation and features updated finishes, creating a move-in-ready living space. The upper unit is occupied under a month-to-month tenancy, providing an established occupancy arrangement with flexibility for future decisions. Major building systems have also been addressed, with a replacement roof and HVAC system completed in 2023.
The property is situated near shopping, public transportation, schools, and major commuting routes in Darby. Its two-unit configuration supports both owner-occupancy and multifamily investment use, as explicitly described for the property.
The property is situated near shopping, public transportation, schools, and major commuting routes in Darby. Its two-unit configuration supports both owner-occupancy and multifamily investment use, as explicitly described for the property.
Key Highlights
- Two‑unit duplex configuration
- Renovated first‑floor unit with updated finishes
- Second‑floor unit occupied by a month‑to‑month tenant
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
$17,362
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
7.39%
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%
$347,240
$347.2K
Cap Rate 7%
$248,029
$248.0K
Cap Rate 9%
$192,911
$192.9K
Market Conditions
NOI Build-Up for 1,584 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
$28.5K $18.00/SF
− Vacancy
−$3.7K −$2.34/SF
EGI
$24.8K $15.66/SF
− OpEx
−$7.4K −$4.70/SF
NOI
$17.4K $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%
$347,240
Cap Rate 7%
$248,029
Cap Rate 9%
$192,911
Alternative Uses
Best Use
Multifamily LT 5
$248.0K
$217.0K – $289.4K
NOI $17,362 @ 7.0% cap · market cap 7.39%
Second Best
Apartment 5plus
$226.8K
$198.5K – $264.7K
NOI $15,879 @ 7.0% cap · market cap 6.76%
Theoretical Best
Office A
$480.3K
$420.2K – $560.3K
NOI $33,618 @ 7.0% cap · market cap 14.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
885
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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-unit property with one updated apartment and a month-to-month occupant in the second unit.
Where is this duplex located?
The property is located at 209 N 2ND STREET Darby, PA.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Two‑unit duplex configuration; Renovated first‑floor unit with updated finishes; Second‑floor unit occupied by a month‑to‑month tenant
