Residential Income Property with
For Sale
$295,000
294 DRUMMERS LANE Unit 294, Wayne, PA 19087
The first-floor home has two bedrooms, two bathrooms, and courtyard-facing outdoor space.
Property Size1,004 SF
Days on Market27
Property Features for 294 DRUMMERS LANE Unit 294
General Information
Standard status
Active
Size
1,004 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$3,445
Building Details
Building Size
1,004 SF
Year Built
1970
Listing Agency:
Keller Williams Realty Devon-Wayne
Listed By:
Shehla R Karim · License #RS217064L
(610) 659-4869
Source:
Lizclarkrealestate
Added: Sep 13
Changed: Oct 3
Last Checked: Oct 7 at 6:07PM
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 Keller Williams Realty Devon-Wayne
Investment Insights
Based on property information with market context.
This first-floor residential unit offers two bedrooms and two bathrooms. Interior improvements include engineered hardwood flooring in the living room and hallway, an updated kitchen with tiled countertops and newer appliances, and refreshed bathrooms. The primary bathroom has a tiled shower with mosaic glass accents and pebble-stone flooring. The living room connects to a private patio overlooking a courtyard.
The property is in Glenhardie, one mile from King of Prussia Mall. Wegmans, King of Prussia Town Center, and major highways are also identified nearby. Glenhardie features a nine-hole golf course and a country-club setting.
The condo fee covers heat, water, hot water, and sewer. The building was constructed in 1970.
The property is in Glenhardie, one mile from King of Prussia Mall. Wegmans, King of Prussia Town Center, and major highways are also identified nearby. Glenhardie features a nine-hole golf course and a country-club setting.
The condo fee covers heat, water, hot water, and sewer. The building was constructed in 1970.
Key Highlights
- Two‑bedroom, two‑bathroom first‑floor unit
- Private patio faces a courtyard
- Kitchen features tiled countertops and newer appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,065
Cap Rate
3.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$201,300
$201.3K
Cap Rate 7%
$143,786
$143.8K
Cap Rate 9%
$111,833
$111.8K
Market Conditions
NOI Build-Up for 1,004 SF
Gross rent
$21.2K $21.12/SF
− Vacancy
−$2.9K −$2.89/SF
EGI
$18.3K $18.23/SF
− OpEx
−$8.2K −$8.20/SF
NOI
$10.1K $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%
$201,300
Cap Rate 7%
$143,786
Cap Rate 9%
$111,833
Alternative Uses
Best Use
Apartment 5plus
$143.8K
$125.8K – $167.8K
NOI $10,065 @ 7.0% cap · market cap 3.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$304.4K
$266.4K – $355.1K
NOI $21,308 @ 7.0% cap · market cap 7.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
921
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 first-floor home has two bedrooms, two bathrooms, and courtyard-facing outdoor space.
Where is this residential income property located?
The property is located at 294 DRUMMERS LANE Unit 294 Wayne, PA.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bathroom first‑floor unit; Private patio faces a courtyard; Kitchen features tiled countertops and newer appliances
