Updated Two-Unit
For Sale
$479,000
Pending
228 West Hamlin Avenue, Telford, PA 18969
Two occupied residences offer matching layouts with eat-in kitchens, living rooms, private laundry, and rear parking.
Property Size2,112 SF
Days on Market133
Property Features for 228 West Hamlin Avenue
General Information
Standard status
Pending
Size
2,112 SF
Property subtype
Multi-Family / Fee Simple
Zoning
B
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$34,140
Taxes and HOA fees
Annual Taxes
$6,113
Amenities
in-unit laundry
patio
backyard
Built-In Microwave, Dishwasher, Disposal, Dryer - Electric, Oven/Range - Electric, Washer
Double Hung, Vinyl Clad
Ceiling Fan(s), Kitchen - Eat-In
No Pool
Above Grade, Below Grade
Sidewalks
Patio(s)
Building Details
Year Built
1992
Listing Agency:
CG Realty, LLC
(215) 353-1699
Listed By:
Amy Sheahan · License #RS325996
(215) 353-1699
Source:
Compass
Added: Apr 21
Changed: Aug 30
Last Checked: Aug 30 at 11:19PM
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 CG Realty, LLC
Investment Insights
Based on property information with market context.
Located at 228 West Hamlin Avenue in Telford, this 1992-built duplex contains two leased and occupied residences. Each unit offers two bedrooms, one bathroom, an eat-in kitchen, a spacious living room, and in-unit laundry. The first-floor residence connects to a concrete patio and the maintained rear yard through a newer sliding door. Both tenants have access to off-street parking at the rear.
Property improvements include a roof replacement completed in 2020, new windows in the second-floor unit in 2021 and the first-floor unit in 2024, and updated second-floor carpeting and flooring installed in 2021. Additional unit features include dishwashers, window A/C units, and electric laundry appliances. The first-floor lease also includes an electrified shed. The property is zoned B and falls within the Souderton Area School District.
Property improvements include a roof replacement completed in 2020, new windows in the second-floor unit in 2021 and the first-floor unit in 2024, and updated second-floor carpeting and flooring installed in 2021. Additional unit features include dishwashers, window A/C units, and electric laundry appliances. The first-floor lease also includes an electrified shed. The property is zoned B and falls within the Souderton Area School District.
Key Highlights
- Duplex with two 2‑bedroom, 1‑bath units
- Both units are currently leased and occupied
- New roof installed in 2020
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
$30,687
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
6.41%
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%
$613,740
$613.7K
Cap Rate 7%
$438,386
$438.4K
Cap Rate 9%
$340,967
$341.0K
Market Conditions
NOI Build-Up for 2,112 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
$46.9K $22.20/SF
− Vacancy
−$3.0K −$1.44/SF
EGI
$43.8K $20.76/SF
− OpEx
−$13.2K −$6.23/SF
NOI
$30.7K $14.53/SF
Area
Montgomery County, PA
Vacancy
6.50%
Lease Rate
$22.20 /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%
$613,740
Cap Rate 7%
$438,386
Cap Rate 9%
$340,967
Alternative Uses
Best Use
Multifamily LT 5
$438.4K
$383.6K – $511.5K
NOI $30,687 @ 7.0% cap · market cap 6.41%
Second Best
Apartment 5plus
$407.6K
$356.7K – $475.6K
NOI $28,534 @ 7.0% cap · market cap 5.96%
Theoretical Best
Specialty Retail
$1.21M
$1.06M – $1.42M
NOI $85,039 @ 7.0% cap · market cap 17.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
447
Businesses Nearby
Explore this area
Business Placement
Demographics for 18969, PA
15,808
Population
6,324
Households
2.5
Avg Household Size
43
Median Age
35%
College-Educated
94%
High-School Grad
16.4 sq mi
ZIP Area
964
Density / Sq Mi
$103,818
Median Household Income
$53,793
Median Earnings
$1,358
Median Rent
$365,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two occupied residences offer matching layouts with eat-in kitchens, living rooms, private laundry, and rear parking.
Where is this duplex located?
The property is located at 228 West Hamlin Avenue Telford, PA.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: Duplex with two 2‑bedroom, 1‑bath units; Both units are currently leased and occupied; New roof installed in 2020
