14th-Floor Other Residential Income
For Sale
$359,000
21438 VALLEY FORGE CIRCLE Unit 1438, King of Prussia, PA 19406
Two-bedroom, two-bath condominium with community recreation amenities and secure resident parking.
Property Size1,254 SF
Days on Market509
Property Features for 21438 VALLEY FORGE CIRCLE Unit 1438
General Information
Standard status
Active
Size
1,254 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,614
Amenities
pool
athletic courts
library
secure resident parking
Building Details
Building Size
1,254 SF
Year Built
1976
Listing Agency:
Century 21 Action Plus Realty - Bordentown
(215) 850-3992
Listed By:
Maria C Zolezzi · License #RS317155
(215) 850-3992
Source:
Lizclarkrealestate
Added: Apr 9, 2025
Changed: Aug 29
Last Checked: Aug 29 at 8:03PM
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 Century 21 Action Plus Realty - Bordentown
Investment Insights
Based on property information with market context.
This residential income property is a condominium on the 14th floor with two bedrooms and two bathrooms. The unit offers light-filled interiors, broad views, and a low-maintenance residential configuration. The building was constructed in 1976, and listing photographs reflect virtual staging.
Community amenities include a swimming pool, athletic courts, library, and secure resident parking. The property is located minutes from King of Prussia Mall and Town Center, with access to major highways, nearby train stations, and Philadelphia International Airport.
Community amenities include a swimming pool, athletic courts, library, and secure resident parking. The property is located minutes from King of Prussia Mall and Town Center, with access to major highways, nearby train stations, and Philadelphia International Airport.
Key Highlights
- 14th‑floor condominium with 2 bedrooms and 2 bathrooms
- Community swimming pool, athletic courts, and library
- Secure resident parking included
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
$16,942
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
4.72%
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%
$338,840
$338.8K
Cap Rate 7%
$242,029
$242.0K
Cap Rate 9%
$188,244
$188.2K
Market Conditions
NOI Build-Up for 1,254 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
$32.8K $26.16/SF
− Vacancy
−$2.0K −$1.60/SF
EGI
$30.8K $24.56/SF
− OpEx
−$13.9K −$11.05/SF
NOI
$16.9K $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%
$338,840
Cap Rate 7%
$242,029
Cap Rate 9%
$188,244
Alternative Uses
Best Use
Apartment 5plus
$242.0K
$211.8K – $282.4K
NOI $16,942 @ 7.0% cap · market cap 4.72%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$721.3K
$631.2K – $841.5K
NOI $50,492 @ 7.0% cap · market cap 14.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,124
Businesses Nearby
Explore this area
Business Placement
Demographics for 19406, PA
28,553
Population
14,181
Households
2
Avg Household Size
38
Median Age
62%
College-Educated
97%
High-School Grad
13.4 sq mi
ZIP Area
2,131
Density / Sq Mi
$109,944
Median Household Income
$65,749
Median Earnings
$1,983
Median Rent
$393,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom, two-bath condominium with community recreation amenities and secure resident parking.
Where is this residential income property located?
The property is located at 21438 VALLEY FORGE CIRCLE Unit 1438 King of Prussia, PA.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: 14th‑floor condominium with 2 bedrooms and 2 bathrooms; Community swimming pool, athletic courts, and library; Secure resident parking included
