Residential Income Property with
For Sale
$255,000
235 DRUMMERS LANE Unit 235, Wayne, PA 19087
The corner residence pairs recently refreshed interiors with a newer kitchen and full-size appliances.
Property Size819 SF
Days on Market8
Property Features for 235 DRUMMERS LANE Unit 235
General Information
Standard status
Active
Size
819 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,877
Amenities
walking trails
Building Details
Building Size
819 SF
Year Built
1970
Stories
3
Listing Agency:
BHHS Fox & Roach-Haverford
Listed By:
Alvin J Belden · License #RS317939
(610) 212-4882
Source:
Lizclarkrealestate
Added: Oct 6
Changed: Oct 11
Last Checked: Oct 13 at 1:26AM
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 BHHS Fox & Roach-Haverford
Investment Insights
Based on property information with market context.
This corner condominium residence has been repainted and fitted with new low-pile carpeting. Windows on two sides bring in natural light, and a 70-square-foot balcony adds outdoor space. The kitchen has a full-size refrigerator, range, dishwasher, and garbage disposal. The home was built in 1970.
Glenhardie is a condominium community of three-story buildings set back from busy roads, with mature trees, landscaped greenery, and walking trails. Routes 202, 76, 276, and 476 provide regional access; Wayne and Devon rail stations are less than 10 minutes away. Nearby destinations include King of Prussia Mall, Gateway Shopping Center, and western Main Line shops and restaurants. The residence is in the Tredyffrin-Easttown School District. Glenhardie Country Club is separate from the condominium association; membership is optional and offers access to golf, swimming, tennis, and pickleball.
Glenhardie is a condominium community of three-story buildings set back from busy roads, with mature trees, landscaped greenery, and walking trails. Routes 202, 76, 276, and 476 provide regional access; Wayne and Devon rail stations are less than 10 minutes away. Nearby destinations include King of Prussia Mall, Gateway Shopping Center, and western Main Line shops and restaurants. The residence is in the Tredyffrin-Easttown School District. Glenhardie Country Club is separate from the condominium association; membership is optional and offers access to golf, swimming, tennis, and pickleball.
Key Highlights
- Corner condominium residence with a 70‑square‑foot balcony
- Recently repainted interior and new low‑pile carpeting
- Newer kitchen with full‑size refrigerator, range, dishwasher, and garbage disposal
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,210
Cap Rate
3.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$164,200
$164.2K
Cap Rate 7%
$117,286
$117.3K
Cap Rate 9%
$91,222
$91.2K
Market Conditions
NOI Build-Up for 819 SF
Gross rent
$17.3K $21.12/SF
− Vacancy
−$2.4K −$2.89/SF
EGI
$14.9K $18.23/SF
− OpEx
−$6.7K −$8.20/SF
NOI
$8.2K $10.02/SF
Area
Delaware County, PA
Vacancy
13.70%
Lease Rate
$21.12 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$164,200
Cap Rate 7%
$117,286
Cap Rate 9%
$91,222
Alternative Uses
Best Use
Apartment 5plus
$117.3K
$102.6K – $136.8K
NOI $8,210 @ 7.0% cap · market cap 3.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$248.3K
$217.3K – $289.7K
NOI $17,382 @ 7.0% cap · market cap 6.82%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
712
Businesses Nearby
Explore this area
Business Placement
Demographics for 19087, PA
33,501
Population
12,829
Households
2.6
Avg Household Size
40
Median Age
78%
College-Educated
97%
High-School Grad
15.6 sq mi
ZIP Area
2,148
Density / Sq Mi
$165,451
Median Household Income
$71,234
Median Earnings
$2,130
Median Rent
$693,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - The corner residence pairs recently refreshed interiors with a newer kitchen and full-size appliances.
Where is this residential income property located?
The property is located at 235 DRUMMERS LANE Unit 235 Wayne, PA.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: Corner condominium residence with a 70‑square‑foot balcony; Recently repainted interior and new low‑pile carpeting; Newer kitchen with full‑size refrigerator, range, dishwasher, and garbage disposal
