Refreshed Residential Income
New
For Sale
$289,000
307 STONY WAY Unit 307, Norristown, PA 19403
Three-bedroom condominium with updated finishes, in-unit laundry, and access to a community pool and playground.
Property Size1,420 SF
Days on Market4
Property Features for 307 STONY WAY Unit 307
General Information
Standard status
Active
Size
1,420 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$3,503
Amenities
swimming pool
playground
Building Details
Building Size
1,420 SF
Year Built
1971
Listing Agency:
HomeZu by Simple Choice
Listed By:
Christopher J Carr · License #RM420776
(855) 885-4663
Source:
Lizclarkrealestate
Added: Sep 16
Changed: Sep 18
Last Checked: Sep 18 at 3:59PM
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 HomeZu by Simple Choice
Investment Insights
Based on property information with market context.
This 3-bedroom, 2-full-bath condominium at 307 Stony Way features a refreshed interior with fresh paint and durable ceramic tile across the kitchen, great room, and hallway. All three bedrooms have new carpeting, while the kitchen includes granite countertops and stainless steel appliances. Both bathrooms have tiled finishes and showers, and the home also provides central air, in-unit laundry, and a spacious great room.
Built in 1971, the property is located in Norristown, PA. The condominium association handles landscaping and trash service, and residents have access to a swimming pool and playground within the community.
Built in 1971, the property is located in Norristown, PA. The condominium association handles landscaping and trash service, and residents have access to a swimming pool and playground within the community.
Key Highlights
- 3‑bedroom, 2‑full‑bath condominium
- Fresh paint and new carpeting in all three bedrooms
- Granite countertops and stainless steel kitchen appliances
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
$19,185
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
6.64%
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%
$383,700
$383.7K
Cap Rate 7%
$274,071
$274.1K
Cap Rate 9%
$213,167
$213.2K
Market Conditions
NOI Build-Up for 1,420 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
$37.1K $26.16/SF
− Vacancy
−$2.3K −$1.60/SF
EGI
$34.9K $24.56/SF
− OpEx
−$15.7K −$11.05/SF
NOI
$19.2K $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%
$383,700
Cap Rate 7%
$274,071
Cap Rate 9%
$213,167
Alternative Uses
Best Use
Apartment 5plus
$274.1K
$239.8K – $319.8K
NOI $19,185 @ 7.0% cap · market cap 6.64%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$816.8K
$714.7K – $952.9K
NOI $57,176 @ 7.0% cap · market cap 19.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
272
Businesses Nearby
Explore this area
Business Placement
Demographics for 19403, PA
43,734
Population
19,720
Households
2.2
Avg Household Size
45
Median Age
48%
College-Educated
96%
High-School Grad
22.4 sq mi
ZIP Area
1,952
Density / Sq Mi
$101,996
Median Household Income
$59,809
Median Earnings
$1,640
Median Rent
$355,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Three-bedroom condominium with updated finishes, in-unit laundry, and access to a community pool and playground.
Where is this residential income property located?
The property is located at 307 STONY WAY Unit 307 Norristown, PA.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: 3‑bedroom, 2‑full‑bath condominium; Fresh paint and new carpeting in all three bedrooms; Granite countertops and stainless steel kitchen appliances
