Renovated Two-Unit
For Sale
$664,900
244 Ash Lane, Lafayette Hill, PA 19444
Two similar residential units include basement areas, with one recently renovated and both supported by separate tenant electric service.
Property Size2,120 SF
Price / SF$313.63
Days on Market271
Property Features for 244 Ash Lane
General Information
Standard status
Active
Size
2,120 SF
Property subtype
Multi-Family / Fee Simple
Zoning
APT-HR
Additional Details
Gross Income
$42,000
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,866
Amenities
No
https://listings.nextdoorphotos.com/mls/225428261
No Pool
Above Grade, Below Grade
Building Details
Year Built
1979
Buildings
1
Listing Agency:
RE/MAX Ready
(610) 248-8875
Listed By:
Robert Abbott · License #RS195299L
(610) 248-8875
Source:
Compass
Added: Dec 3, 2025
Changed: Aug 31
Last Checked: Aug 31 at 3:16AM
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 RE/MAX Ready
Investment Insights
Based on property information with market context.
This two-unit residential property contains 2,120 square feet and was built in 1979. The matching layouts include separate basement areas for tenant use, with portions of those areas finished. One unit has been recently renovated, while property updates include a roof installed in 2020 and a new HVAC system serving Unit 2 added in 2023. The property is zoned APT-HR.
Unit 1 is occupied under a month-to-month arrangement, and Unit 2 is leased through June 1, 2027. Tenants are responsible for their electric and cable/internet service. The owner covers insurance, sewer, and water, while township trash service is provided.
Located in Lafayette Hill, the property is within the Colonial School District and associated with Plymouth Whitemarsh High School. The county is Montgomery, and the MLS area is Whitemarsh Township (10665).
Unit 1 is occupied under a month-to-month arrangement, and Unit 2 is leased through June 1, 2027. Tenants are responsible for their electric and cable/internet service. The owner covers insurance, sewer, and water, while township trash service is provided.
Located in Lafayette Hill, the property is within the Colonial School District and associated with Plymouth Whitemarsh High School. The county is Montgomery, and the MLS area is Whitemarsh Township (10665).
Key Highlights
- Two‑unit duplex with 2,120 square feet, built in 1979
- Unit 2 recently renovated with new HVAC installed in 2023
- Roof replaced 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
$30,803
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
4.63%
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%
$616,060
$616.1K
Cap Rate 7%
$440,043
$440.0K
Cap Rate 9%
$342,256
$342.3K
Market Conditions
NOI Build-Up for 2,120 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
$47.1K $22.20/SF
− Vacancy
−$3.1K −$1.44/SF
EGI
$44.0K $20.76/SF
− OpEx
−$13.2K −$6.23/SF
NOI
$30.8K $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%
$616,060
Cap Rate 7%
$440,043
Cap Rate 9%
$342,256
Alternative Uses
Best Use
Multifamily LT 5
$440.0K
$385.0K – $513.4K
NOI $30,803 @ 7.0% cap · market cap 4.63%
Second Best
Apartment 5plus
$409.2K
$358.0K – $477.4K
NOI $28,642 @ 7.0% cap · market cap 4.31%
Theoretical Best
Specialty Retail
$1.22M
$1.07M – $1.42M
NOI $85,361 @ 7.0% cap · market cap 12.84%
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
166
Businesses Nearby
Explore this area
Business Placement
Demographics for 19444, PA
10,806
Population
4,751
Households
2.3
Avg Household Size
45
Median Age
68%
College-Educated
98%
High-School Grad
4.8 sq mi
ZIP Area
2,251
Density / Sq Mi
$153,647
Median Household Income
$86,850
Median Earnings
$2,178
Median Rent
$497,800
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 similar residential units include basement areas, with one recently renovated and both supported by separate tenant electric service.
Where is this duplex located?
The property is located at 244 Ash Lane Lafayette Hill, PA.
What is the asking price?
The asking price for this property is $664,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,120 square feet, built in 1979; Unit 2 recently renovated with new HVAC installed in 2023; Roof replaced in 2020
