Building Details

Building Size 1,305 SF

Year Built 1972

Listing Agency: Compass Pennsylvania, LLC j***@jordanwiener.com Show Phone

Listed By: Jordan B Wiener · License #RS229414 Show Phone

Source: Mainlinekw

Added: Jul 30 Changed: Aug 2 Last Checked: Aug 6 at 3:29AM

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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 Compass Pennsylvania, LLC

Investment Insights

Based on property information with market context.

Located at 264 W Montgomery Avenue in Haverford, this 1,305-square-foot condominium residence offers two bedrooms and two updated baths within a 1972 boutique building. The renovated interior includes original hardwood floors, crown molding, recessed lighting, replacement windows, and a flexible open-concept layout. The living room opens to a balcony with treetop views, while the eat-in kitchen features Cherry cabinetry, Santa Cecilia granite counters, natural stone finishes, stainless appliances, and an externally vented five-burner cooktop. The primary suite includes a dressing area, extensive closets, and a jetted tub and shower. A full-size Miele washer and dryer, outfitted closets, built-in sound, and additional storage add practical functionality. The property also includes an assigned parking space and is served by the Lower Merion School District. Suburban Square, Haverford Square, Merion Cricket Club, parks, banks, pharmacies, and other established conveniences are nearby.

Key Highlights

• 1,305‑square‑foot condominium residence with 2 bedrooms and 2 updated baths
• Renovated eat‑in kitchen with Cherry cabinetry, granite counters, natural stone finishes, and stainless appliances
• Living room opens to a balcony with treetop views

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

$17,631

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

3.68%

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%

$352,620 $352.6K

Cap Rate 7%

$251,871 $251.9K

Cap Rate 9%

$195,900 $195.9K

Market Conditions

NOI Build-Up for 1,305 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

$34.1K $26.16/SF

− Vacancy

−$2.1K −$1.60/SF

EGI

$32.1K $24.56/SF

− OpEx

−$14.4K −$11.05/SF

NOI

$17.6K $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%

$352,620

Cap Rate 7%

$251,871

Cap Rate 9%

$195,900

Alternative Uses

Best Use

Apartment 5plus

$251.9K

$220.4K – $293.9K (±1% cap)

NOI $17,631 @ 7.0% cap · market cap 3.68%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$750.6K

$656.8K – $875.8K (±1% cap)

NOI $52,545 @ 7.0% cap · market cap 10.97%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Mansard House Condo Condominium Complex H&M Financial Corporation Financial Advisor

Suggested Use

Top Pick Plumbing Service Grocery & Convenience Store Storage Facility Catering Service Locksmith Cosmetic Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Residential units

Location Intelligence

Trade Area within ½ mile

2,077

Businesses Nearby

Explore this area Business Placement

Demographics for 19041, PA

6,526

Population

2,548

Households

2.6

Avg Household Size

46

Median Age

79%

College-Educated

97%

High-School Grad

3.3 sq mi

ZIP Area

1,978

Density / Sq Mi

$147,531

Median Household Income

$45,519

Median Earnings

$2,250

Median Rent

$908,600

Median Home Value

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Frequently Asked Questions

What type of property is this?

Residential income property - Updated condominium residence with two bedrooms, two baths, open living areas, balcony access, assigned parking, and extensive storage.

Where is this residential income property located?

The property is located at 264 W MONTGOMERY AVENUE Unit 304 Haverford, 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: 1,305‑square‑foot condominium residence with 2 bedrooms and 2 updated baths; Renovated eat‑in kitchen with Cherry cabinetry, granite counters, natural stone finishes, and stainless appliances; Living room opens to a balcony with treetop views