Renovated Residential Income
For Sale
$265,000
Pending
309 FLORENCE AVENUE Unit 206-N, Jenkintown, PA 19046
Updated condominium residence with an open kitchen, private balcony, storage, and access to extensive building amenities.
Property Size1,321 SF
Days on Market105
Property Features for 309 FLORENCE AVENUE Unit 206-N
General Information
Standard status
Pending
Size
1,321 SF
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 3BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$4,786
Amenities
doorman-attended lobby
outdoor swimming pool
community room
laundry facilities
guest suites
Building Details
Building Size
1,321 SF
Year Built
1965
Listing Agency:
BHHS Fox & Roach-Jenkintown
Listed By:
Lynn Mundy Coggin · License #RS210932L
(215) 882-2001
Source:
Lizclarkrealestate
Added: Jun 2
Changed: Sep 10
Last Checked: Sep 13 at 1:25PM
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 BHHS Fox & Roach-Jenkintown
Investment Insights
Based on property information with market context.
Beaver Hill North offers a renovated condominium residence with a reconfigured open kitchen connected to the living and dining areas. The home includes three bedrooms, two bathrooms, gas cooking, a dishwasher, hardwood flooring in the main living spaces, central air, extensive closet storage, and an in-unit storage closet. Sliding doors lead to a private balcony, while the primary suite includes a renovated bath with double vanities. A separate private storage unit is also located on the lower level.
Building amenities include a doorman-attended lobby, elevators, maintained grounds, an outdoor pool, community room, guest suites, and laundry facilities on every floor. Garage parking is available in the building for an additional monthly fee. The condominium fee covers heat, air conditioning, electricity, gas, water, lawn care, snow removal, exterior and common-area maintenance, management, and grounds maintenance.
The property is at 309 Florence Avenue in Jenkintown Borough, near Jenkintown Train Station, local shops, restaurants, cafes, the Hiway Theater, library, farmers markets, and community events. The building was constructed in 1965.
Building amenities include a doorman-attended lobby, elevators, maintained grounds, an outdoor pool, community room, guest suites, and laundry facilities on every floor. Garage parking is available in the building for an additional monthly fee. The condominium fee covers heat, air conditioning, electricity, gas, water, lawn care, snow removal, exterior and common-area maintenance, management, and grounds maintenance.
The property is at 309 Florence Avenue in Jenkintown Borough, near Jenkintown Train Station, local shops, restaurants, cafes, the Hiway Theater, library, farmers markets, and community events. The building was constructed in 1965.
Key Highlights
- Three‑bedroom, two‑bath condominium residence in Beaver Hill North
- Open kitchen layout connects the living and dining areas
- Private balcony accessed through expansive sliding glass doors
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
$17,847
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
6.73%
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%
$356,940
$356.9K
Cap Rate 7%
$254,957
$255.0K
Cap Rate 9%
$198,300
$198.3K
Market Conditions
NOI Build-Up for 1,321 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
$34.6K $26.16/SF
− Vacancy
−$2.1K −$1.60/SF
EGI
$32.4K $24.56/SF
− OpEx
−$14.6K −$11.05/SF
NOI
$17.8K $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%
$356,940
Cap Rate 7%
$254,957
Cap Rate 9%
$198,300
Alternative Uses
Best Use
Apartment 5plus
$255.0K
$223.1K – $297.5K
NOI $17,847 @ 7.0% cap · market cap 6.73%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$759.9K
$664.9K – $886.5K
NOI $53,190 @ 7.0% cap · market cap 20.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,279
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condominium residence with an open kitchen, private balcony, storage, and access to extensive building amenities.
Where is this residential income property located?
The property is located at 309 FLORENCE AVENUE Unit 206-N Jenkintown, PA.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Three‑bedroom, two‑bath condominium residence in Beaver Hill North; Open kitchen layout connects the living and dining areas; Private balcony accessed through expansive sliding glass doors
