Two-Bedroom Residential Income
New
For Sale
$179,900
309 FLORENCE AVENUE Unit 419N, Jenkintown, PA 19046
Bright, well-maintained residence with an open living area, private balcony, pool views, and access to building services.
Property Size1,204 SF
Days on Market7
Property Features for 309 FLORENCE AVENUE Unit 419N
General Information
Standard status
Active
Size
1,204 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
$3,794
Amenities
pool
doorman
Building Details
Building Size
1,204 SF
Year Built
1965
Listing Agency:
BHHS Fox & Roach-Jenkintown
Listed By:
Linda S Brouse · License #RS179327
(215) 527-2593
Source:
Lizclarkrealestate
Added: Sep 8
Changed: Sep 12
Last Checked: Sep 13 at 10:57AM
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.
Built in 1965, this two-bedroom, two-bath residential income property offers an open layout connecting the living and dining areas. Expansive windows bring natural light into the residence, while generous bedrooms and closet space support comfortable everyday living. An oversized balcony extends the living area and overlooks the pool.
Building features include a doorman, a well-maintained setting, and underground parking when available, with additional parking options for residents and guests. Public transportation is accessible, with both a bus stop and commuter rail station located less than a mile away. Shopping and dining are within walking distance, and Whole Foods and Trader Joe's are nearby.
Building features include a doorman, a well-maintained setting, and underground parking when available, with additional parking options for residents and guests. Public transportation is accessible, with both a bus stop and commuter rail station located less than a mile away. Shopping and dining are within walking distance, and Whole Foods and Trader Joe's are nearby.
Key Highlights
- Two‑bedroom, two‑bath residence with an open living and dining layout
- Oversized balcony overlooking the pool
- Expansive windows provide abundant natural light
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
$16,266
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
9.04%
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%
$325,320
$325.3K
Cap Rate 7%
$232,371
$232.4K
Cap Rate 9%
$180,733
$180.7K
Market Conditions
NOI Build-Up for 1,204 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
$31.5K $26.16/SF
− Vacancy
−$1.9K −$1.60/SF
EGI
$29.6K $24.56/SF
− OpEx
−$13.3K −$11.05/SF
NOI
$16.3K $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%
$325,320
Cap Rate 7%
$232,371
Cap Rate 9%
$180,733
Alternative Uses
Best Use
Apartment 5plus
$232.4K
$203.3K – $271.1K
NOI $16,266 @ 7.0% cap · market cap 9.04%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$692.6K
$606.0K – $808.0K
NOI $48,479 @ 7.0% cap · market cap 26.95%
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 - Bright, well-maintained residence with an open living area, private balcony, pool views, and access to building services.
Where is this residential income property located?
The property is located at 309 FLORENCE AVENUE Unit 419N Jenkintown, PA.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: Two‑bedroom, two‑bath residence with an open living and dining layout; Oversized balcony overlooking the pool; Expansive windows provide abundant natural light
