Residential Income Property with
For Sale
$199,900
309 FLORENCE AVENUE Unit 114-N, Jenkintown, PA 19046
First-floor condominium offers renovated interiors and included gas, water, and electric utilities.
Property Size1,092 SF
Days on Market17
Property Features for 309 FLORENCE AVENUE Unit 114-N
General Information
Standard status
Active
Size
1,092 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$4,561
Amenities
private balcony
full-time door staff
secure buildings
laundry facilities on every floor
common areas
community room
guest suites
pool
Building Details
Building Size
1,092 SF
Year Built
1965
Listing Agency:
Century 21 Advantage Gold-Castor
Listed By:
Evette Ruiz · License #RS284564
(267) 718-8052
Source:
Lizclarkrealestate
Added: Aug 20
Changed: Sep 4
Last Checked: Sep 4 at 11:11AM
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 Century 21 Advantage Gold-Castor
Investment Insights
Based on property information with market context.
This first-floor condominium at Beaver Hill North provides a two-bedroom, two-full-bath layout with distinct living, dining, and kitchen areas. The kitchen has been renovated and includes an oversized pantry or storage closet. Laminate wood flooring extends through the living room, dining room, and hallway, while the primary bedroom features wall-to-wall closets and a private updated bathroom. A private balcony adds outdoor space.
Beaver Hill North includes full-time door staff, secured buildings, laundry facilities on every floor, and maintained common areas. Residents may purchase access to the community pool, use the community room for private events, and reserve one of six guest suites. Gas, water, and electric utilities are included. The property is located steps from Jenkintown Train Station, with rail connections to Center City Philadelphia, Trenton, and Philadelphia International Airport, plus walkable access to shopping and dining.
Beaver Hill North includes full-time door staff, secured buildings, laundry facilities on every floor, and maintained common areas. Residents may purchase access to the community pool, use the community room for private events, and reserve one of six guest suites. Gas, water, and electric utilities are included. The property is located steps from Jenkintown Train Station, with rail connections to Center City Philadelphia, Trenton, and Philadelphia International Airport, plus walkable access to shopping and dining.
Key Highlights
- 2‑bedroom, 2‑full‑bath condominium on the first floor
- Renovated kitchen with oversized pantry/storage closet
- New laminate wood flooring in living room, dining room, and hallway
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
$14,753
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
7.38%
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%
$295,060
$295.1K
Cap Rate 7%
$210,757
$210.8K
Cap Rate 9%
$163,922
$163.9K
Market Conditions
NOI Build-Up for 1,092 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
$28.6K $26.16/SF
− Vacancy
−$1.7K −$1.60/SF
EGI
$26.8K $24.56/SF
− OpEx
−$12.1K −$11.05/SF
NOI
$14.8K $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%
$295,060
Cap Rate 7%
$210,757
Cap Rate 9%
$163,922
Alternative Uses
Best Use
Apartment 5plus
$210.8K
$184.4K – $245.9K
NOI $14,753 @ 7.0% cap · market cap 7.38%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$628.1K
$549.6K – $732.8K
NOI $43,969 @ 7.0% cap · market cap 22.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,279
Businesses Nearby
Explore this area
Business Placement
Demographics for 19046, PA
19,669
Population
8,418
Households
2.3
Avg Household Size
45
Median Age
63%
College-Educated
98%
High-School Grad
6.7 sq mi
ZIP Area
2,936
Density / Sq Mi
$112,959
Median Household Income
$66,042
Median Earnings
$1,433
Median Rent
$446,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - First-floor condominium offers renovated interiors and included gas, water, and electric utilities.
Where is this residential income property located?
The property is located at 309 FLORENCE AVENUE Unit 114-N Jenkintown, PA.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: 2‑bedroom, 2‑full‑bath condominium on the first floor; Renovated kitchen with oversized pantry/storage closet; New laminate wood flooring in living room, dining room, and hallway
