Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Victorian Triplex with Detached Garage Title is generated by Realmo AI

    27 GARFIELD Avenue, Norwood, PA 19074

    View on Map
    Claim this Listing
    For Sale
    Under Contract
    $442,500

    MULTI_FAMILY - Victorian - NORWOOD, PA

    Property size:
    2,912 SF
    Lot size:
    0.26 Acres
    Price / SF:
    $151/SF
    Added:
    Aug 13, 2025
    Days on Market:
    296
    Last Refresh:
    Jun 4 at 9:06 pm

    Property Features for 27 GARFIELD Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Rooms
    Dining Room
    Parking
    5
    Parking features
    Parking Lot, Garage - Detached, On Street
    Interior features
    Wood Floors, Dining Area
    Standard status
    Active Under Contract
    Size
    2,912 SF
    Lot size
    0.26 Acres

    Taxes and HOA fees

    Tax Annual Amount
    7778

    Utilities

    Heating system
    Hot Water(Heating)

    Building Details

    Year built
    1900
    Number of units
    3
    Building materials
    Frame, Masonry
    Architectural style
    Victorian

    We can help!

    Listing Contact
    Robert V Bangs
    Robert V Bangs

    Listing agent Robert V Bangs License #RS330016

    Listing office Keller Williams Main Line 6 Coulter Avenue unit: 2, Ardmore, PA

    Listing date Aug 13, 2025

    MLS# PADE2097646 Listing URL

    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.

    HighLights

    • Victorian triplex with 3 units: two 1 bed/1 bath apartments and one first‑floor 2 bed/1 bath unit
    • 5‑car detached garage plus parking lot and on‑street parking for multiple vehicles
    • Wood floors and a dining area/dining room
    • Frame and masonry construction; hot water heating
    • Sold as‑is through an estate sale; year built 1900

    Overview

    This Victorian-style triplex offers three separate residential units, configured as two 1-bedroom, 1-bath apartments and a spacious 2-bedroom, 1-bath unit on the first floor. The property is situated on an oversized lot, providing outdoor space for recreation, gardening, or other future uses. A standout improvement is a detached 5-car garage, which can support on-site parking and storage, and may provide additional flexibility for how the property is operated. The sale is being offered as-is through an estate sale.

    Located in Norwood, Pennsylvania, the home is described as being in a quiet, well-maintained neighborhood near the local police station. It is also noted as being just minutes from schools, shopping, dining, and commuter routes, which may appeal to tenants or owner-occupants seeking convenience.

    For a prospective buyer, this layout can fit either an owner-occupant plan or a multi-unit rental strategy, with the first-floor 2-bedroom unit allowing for flexible living arrangements while the two 1-bedroom units can serve as rental income sources. The additional garage capacity and the larger outdoor area make the property particularly practical for day-to-day storage and parking needs.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $52.4k $18.00
    − Vacancy −$6.8k −$2.34
    EGI $45.6k $15.66
    − OpEx −$13.7k −$4.70
    NOI $31.9k $10.96
    2,912 SF · lease $18.00/SF/yr · vacancy 13.01% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $456.0K
    $399.0K – $532.0K (±1% cap)
    NOI $31,918 @ 7.0% cap · market cap 7.21%
    Second Best
    Apartment 5plus
    $417.0K
    $364.9K – $486.5K (±1% cap)
    NOI $29,192 @ 7.0% cap · market cap 6.60%
    Theoretical Best
    Office A
    $882.9K
    $772.5K – $1.03M (±1% cap)
    NOI $61,802 @ 7.0% cap · market cap 13.97%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Norwood
    County
    Delaware
    State
    Pennsylvania
    Longitude
    -75.29845
    Latitude
    39.89151

    FAQs

    What type of property is this?
    Triplex - Triplex with two 1-bedroom units and a 2-bedroom first-floor unit, plus a 5-car detached garage.
    Where is this triplex located?
    The property is located at 27 GARFIELD Avenue Norwood, PA.
    What is the asking price?
    The asking price for this property is $442,500.
    What are key features of this property?
    This property features: Victorian triplex with 3 units: two 1 bed/1 bath apartments and one first‑floor 2 bed/1 bath unit; 5‑car detached garage plus parking lot and on‑street parking for multiple vehicles; Wood floors and a dining area/dining room
    (610) 609-1215
    We can help!
    Listing Contact
    Robert V Bangs
    Robert V Bangs
    Real Estate License ID: RS330016
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    27 GARFIELD Avenue, NORWOOD, PA 19074
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!