Corner Residential Income
For Sale
$258,900
309 FLORENCE AVENUE Unit 315-N, Jenkintown, PA 19046
Third-floor condominium residence with a private balcony, separate primary suite, and access to extensive community amenities.
Property Size1,321 SF
Price / SF$195.99
Days on Market29
Property Features for 309 FLORENCE AVENUE Unit 315-N
General Information
Standard status
Active
Size
1,321 SF
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Property Condition
Severity
Minor
Evidence
update and personalize the space
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,167
Amenities
24-hour door attendant
secure lobby
community room
laundry facilities
guest suites
outdoor swimming pool
private balcony
Building Details
Building Size
1,321 SF
Year Built
1965
Listing Agency:
White Acre Realty
(215) 917-8700
Listed By:
GIL BARZESKI · License #RS353861
(215) 917-8700
Source:
Lizclarkrealestate
Added: Jul 16
Changed: Aug 13
Last Checked: Aug 13 at 4:55AM
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 White Acre Realty
Investment Insights
Based on property information with market context.
This third-floor corner condominium residence offers approximately 1,321 square feet with three bedrooms and two full bathrooms. The interior includes a foyer, separate living and dining areas, a private balcony, and a primary suite with its own bathroom. Windows on multiple sides bring natural light into the home, while the layout also accommodates two additional bedrooms and a full hall bath. Built in 1965, the property has been maintained by one owner for 17 years and is ready for continued use or personal updates.
Beaver Hill North provides elevators, a secure lobby, 24-hour door attendant, community room, guest suites, laundry facilities on every floor, maintained grounds, ample parking, and access to an outdoor swimming pool through membership. The condominium fee covers major utilities and exterior services, including heat, air conditioning, electricity, gas, water, sewer, lawn care, snow removal, building maintenance, common-area maintenance, and professional management. The property is within walking distance of the SEPTA Regional Rail station, shopping, restaurants, parks, and local hospitals, with access to Center City Philadelphia and major highways.
Beaver Hill North provides elevators, a secure lobby, 24-hour door attendant, community room, guest suites, laundry facilities on every floor, maintained grounds, ample parking, and access to an outdoor swimming pool through membership. The condominium fee covers major utilities and exterior services, including heat, air conditioning, electricity, gas, water, sewer, lawn care, snow removal, building maintenance, common-area maintenance, and professional management. The property is within walking distance of the SEPTA Regional Rail station, shopping, restaurants, parks, and local hospitals, with access to Center City Philadelphia and major highways.
Key Highlights
- Approximately 1,321 square feet with 3 bedrooms and 2 full bathrooms
- Corner unit on the 3rd floor with windows on multiple sides
- Private balcony and separate living and dining areas
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
6.89%
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 6.89%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$759.9K
$664.9K – $886.5K
NOI $53,190 @ 7.0% cap · market cap 20.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Yes
Utilities to site
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 - Third-floor condominium residence with a private balcony, separate primary suite, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 309 FLORENCE AVENUE Unit 315-N Jenkintown, PA.
What is the asking price?
The asking price for this property is $258,900.
What are key features of this property?
This property features: Approximately 1,321 square feet with 3 bedrooms and 2 full bathrooms; Corner unit on the 3rd floor with windows on multiple sides; Private balcony and separate living and dining areas
