Brick Duplex with Separate
For Sale
$489,900
22 E 3RD Street, Media, PA 19063
Multi-Family, MEDIA, PA
Property Size1,820 SF
Lot Size0.06 Acres
Price / SF$269.18
Days on Market47
Property Features for 22 E 3RD Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Driveway
Elementary school district
ROSE TREE MEDIA
Middle school district
ROSE TREE MEDIA
High school district
ROSE TREE MEDIA
Standard status
Active
Size
1,820 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
8355
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1920
Number of units
1
Building materials
Brick
Architectural style
Other
Listing Agency:
Legacy Real Estate, Inc.
(215) 836-8000
Listed By:
Sanjiv K Jain · License #RM421067
(215) 287-5600
Added: Jul 24
Changed: Aug 31
Last Checked: Sep 8 at 5:06AM
MLS# PADE2120430
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 1,820-square-foot brick duplex at 22 E 3RD Street in Media was recently used as an office and can be configured for residential occupancy again. The layout supports two residential units, two smaller offices, one larger office, or a single larger space, with each configuration allowed by right under the current zoning and no variances required.
The property sits on a 0.06-acre lot with driveway parking and separate utilities. Building systems include forced-air heat and central air conditioning. State Street is a two-block walk away, with restaurants and nightlife nearby.
The property sits on a 0.06-acre lot with driveway parking and separate utilities. Building systems include forced-air heat and central air conditioning. State Street is a two-block walk away, with restaurants and nightlife nearby.
Key Highlights
- 1,820‑square‑foot brick duplex on a 0.06‑acre lot
- Flexible layout for two residential units, two offices, one office, or a single larger space
- Current zoning allows the stated configurations by right; no variances needed
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
$29,838
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
6.09%
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%
$596,760
$596.8K
Cap Rate 7%
$426,257
$426.3K
Cap Rate 9%
$331,533
$331.5K
Market Conditions
NOI Build-Up for 1,820 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
$48.0K $26.40/SF
− Vacancy
−$8.3K −$4.54/SF
EGI
$39.8K $21.86/SF
− OpEx
−$9.9K −$5.46/SF
NOI
$29.8K $16.39/SF
Area
Delaware County, PA
Vacancy
17.20%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
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%
$596,760
Cap Rate 7%
$426,257
Cap Rate 9%
$331,533
Alternative Uses
Best Use
Office B
$426.3K
$373.0K – $497.3K
NOI $29,838 @ 7.0% cap · market cap 6.09%
Second Best
Multifamily LT 5
$285.0K
$249.4K – $332.5K
NOI $19,949 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$551.8K
$482.8K – $643.8K
NOI $38,626 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,636
Businesses Nearby
Explore this area
Business Placement
Demographics for 19063, PA
38,338
Population
16,128
Households
2.4
Avg Household Size
46
Median Age
60%
College-Educated
97%
High-School Grad
25.1 sq mi
ZIP Area
1,527
Density / Sq Mi
$121,899
Median Household Income
$70,147
Median Earnings
$1,623
Median Rent
$505,500
Median Home Value
Market
Vacancy Rate% for Office 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-unit property with driveway parking, central air, and flexible office or residential use.
Where is this duplex located?
The property is located at 22 E 3RD Street Media, PA.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: 1,820‑square‑foot brick duplex on a 0.06‑acre lot; Flexible layout for two residential units, two offices, one office, or a single larger space; Current zoning allows the stated configurations by right; no variances needed
