Building Details

Building Size 2,080 SF

Year Built 1925

Listing Agency: VRA Realty

Listed By: Gregory Patrick Monastra · License #RS362238 Show Phone

Source: Patmckennarealtors

Added: Jun 4 Changed: Sep 2 Last Checked: Sep 4 at 10:16AM

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Investment Insights

Based on property information with market context.

This top-floor residential income property is a condominium in the Merion Manor community, with a layout designed for everyday residential use. The home includes 3 bedrooms and 2.5 bathrooms, hardwood flooring throughout, a generously sized living room, and a separate dining room. The kitchen provides substantial cabinet storage along with two pantries. Built in 1925, the property combines an established building setting with a practical interior arrangement.

Merion Manor offers convenient access to shopping, dining, train lines, Amtrak, and major commuter routes. The surrounding community is also described as having a neighborhood-oriented setting and access to schools. The address is 212 IDRIS Unit: J-3, Merion Station, PA 19066.

Key Highlights

• Top‑floor condominium in the Merion Manor community
• 3 bedrooms and 2.5 bathrooms
• Hardwood floors throughout the home

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

$28,101

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

5.31%

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%

$562,020 $562.0K

Cap Rate 7%

$401,443 $401.4K

Cap Rate 9%

$312,233 $312.2K

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

$54.4K $26.16/SF

− Vacancy

−$3.3K −$1.60/SF

EGI

$51.1K $24.56/SF

− OpEx

−$23.0K −$11.05/SF

NOI

$28.1K $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 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%

$562,020

Cap Rate 7%

$401,443

Cap Rate 9%

$312,233

Alternative Uses

Best Use

Apartment 5plus

$401.4K

$351.3K – $468.4K (±1% cap)

NOI $28,101 @ 7.0% cap · market cap 5.31%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$1.20M

$1.05M – $1.40M (±1% cap)

NOI $83,751 @ 7.0% cap · market cap 15.83%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Residential income properties

Suggested Use

Top Pick Real Estate Agency Auto Parts Store Building Supply Electrical Service Garden Center Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Questions? Ask Rey

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What type of property is this? Where is this residential income properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Residential income property - Three-bedroom condominium with hardwood floors, two pantries, and separate living and dining areas.

Where is this residential income property located?

The property is located at 212 IDRIS Unit J-3 Merion Station, PA.

What is the asking price?

The asking price for this property is $529,000.

What are key features of this property?

This property features: Top‑floor condominium in the Merion Manor community; 3 bedrooms and 2.5 bathrooms; Hardwood floors throughout the home