Building Details

Building Size 1,562 SF

Year Built 1925

Listing Agency: RE/MAX Ready

Listed By: Carol E Albert · License #AB060679L Show Phone

Source: Mainlinekw

Added: Sep 6 Changed: Oct 21 Last Checked: Oct 23 at 1:17PM

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Investment Insights

Based on property information with market context.

This residential income property is a third-floor condominium in a 1925 converted building. The two-plus-bedroom unit retains original wood flooring, crown moldings, tall baseboards, and dining-room wainscoting. Interior features include a living room with wood-burning fireplace, window-filled sunroom, dining room, butler’s pantry, modern kitchen with gas cooking, breakfast room, powder room, full bath, and two bedrooms. A kitchen balcony and a Juliet balcony add private outdoor spaces, while two exposures bring natural light into the home. The property also includes garage spot #5, a large lower-level storage locker, and front and back entrances.

HVAC was replaced in 2021 and includes a surge protector and air scrubber. Knob-and-tube wiring was removed in August 2026, grounded outlets were installed, and smoke detectors were replaced in June 2026. The smoke-free building is directly across from the SEPTA regional rail Merion station on the Paoli-Thorndale line, with service to Center City Philadelphia in about 15 minutes. Narberth and Wynnewood shopping centers are also nearby.

Key Highlights

• Third‑floor, two‑plus‑bedroom condominium in a 1925 converted building
• Original wood flooring, crown moldings, tall baseboards, and dining‑room wainscoting
• Living room with wood‑burning fireplace plus a windowed sunroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$21,103

Cap Rate

4.49%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$422,060 $422.1K

Cap Rate 7%

$301,471 $301.5K

Cap Rate 9%

$234,478 $234.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,562 SF

Gross rent

$40.9K $26.16/SF

− Vacancy

−$2.5K −$1.60/SF

EGI

$38.4K $24.56/SF

− OpEx

−$17.3K −$11.05/SF

NOI

$21.1K $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%

$422,060

Cap Rate 7%

$301,471

Cap Rate 9%

$234,478

Alternative Uses

Best Use

Apartment 5plus

$301.5K

$263.8K – $351.7K (±1% cap)

NOI $21,103 @ 7.0% cap · market cap 4.49%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$898.5K

$786.2K – $1.05M (±1% cap)

NOI $62,894 @ 7.0% cap · market cap 13.38%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Lease Details

1

Residential units

Location Intelligence

Trade Area within ½ mile

599

Businesses Nearby

Explore this area Business Placement

Demographics for 19066, PA

6,107

Population

1,866

Households

3.3

Avg Household Size

38

Median Age

84%

College-Educated

98%

High-School Grad

1.3 sq mi

ZIP Area

4,698

Density / Sq Mi

$243,500

Median Household Income

$91,685

Median Earnings

$2,319

Median Rent

$871,300

Median Home Value

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350 Montgomery Ave, Merion Station, PA 19066

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Frequently Asked Questions

What type of property is this?

Residential income property - Top-floor condominium with period detailing, private outdoor space, assigned garage parking, and direct access to regional rail service.

Where is this residential income property located?

The property is located at 212 IDRIS ROAD Unit F3 Merion Station, PA.

What is the asking price?

The asking price for this property is $469,900.

What are key features of this property?

This property features: Third‑floor, two‑plus‑bedroom condominium in a 1925 converted building; Original wood flooring, crown moldings, tall baseboards, and dining‑room wainscoting; Living room with wood‑burning fireplace plus a windowed sunroom