Renovated Residential Income
For Sale
$255,000
309 FLORENCE AVENUE Unit 205-N, Jenkintown, PA 19046
Three-bedroom condominium with updated interiors, private balcony, storage, and extensive community amenities.
Property Size1,321 SF
Days on Market95
Property Features for 309 FLORENCE AVENUE Unit 205-N
General Information
Standard status
Active
Size
1,321 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 3BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,164
Amenities
doorman attended lobby
community room
outdoor swimming pool
laundry facilities
guest suites
private balcony
in-unit storage closet
private storage unit
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: Aug 31
Last Checked: Sep 2 at 1:11AM
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 BHHS Fox & Roach-Jenkintown
Investment Insights
Based on property information with market context.
Unit 205-N is a 3-bedroom, 2-bath condominium in a 1965 residential community. The renovated interior features parquet hardwood flooring, an eat-in kitchen with gas cooking, dishwasher, extensive cabinetry, and pantry storage. Living and dining areas connect to a private balcony, while the primary suite includes a walk-in closet and updated private bath. Central air, generous closets, an in-unit storage closet, and a separate lower-level storage unit add practical convenience.
Community amenities include a doorman-attended lobby, elevators, a residents’ room, maintained grounds, an outdoor swimming pool, laundry facilities on every floor, and access to six guest suites at Beaver Hill. The condominium fee includes air conditioning, heat, electricity, gas, water, lawn care, snow removal, exterior building maintenance, common area maintenance, management, and grounds care.
The property is located in Jenkintown Borough near Jenkintown School District, Jenkintown Train Station, shops, restaurants, cafes, the Hiway Theater, Town Square events, farmers markets, and community activities. Center City Philadelphia is accessible by train.
Community amenities include a doorman-attended lobby, elevators, a residents’ room, maintained grounds, an outdoor swimming pool, laundry facilities on every floor, and access to six guest suites at Beaver Hill. The condominium fee includes air conditioning, heat, electricity, gas, water, lawn care, snow removal, exterior building maintenance, common area maintenance, management, and grounds care.
The property is located in Jenkintown Borough near Jenkintown School District, Jenkintown Train Station, shops, restaurants, cafes, the Hiway Theater, Town Square events, farmers markets, and community activities. Center City Philadelphia is accessible by train.
Key Highlights
- 3‑bedroom, 2‑bath condominium in a 1965 residential community
- Renovated interior with parquet hardwood floors and updated kitchen and baths
- Private balcony plus in‑unit and lower‑level private storage
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
7.00%
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 7.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$759.9K
$664.9K – $886.5K
NOI $53,190 @ 7.0% cap · market cap 20.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
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 - Three-bedroom condominium with updated interiors, private balcony, storage, and extensive community amenities.
Where is this residential income property located?
The property is located at 309 FLORENCE AVENUE Unit 205-N Jenkintown, PA.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: 3‑bedroom, 2‑bath condominium in a 1965 residential community; Renovated interior with parquet hardwood floors and updated kitchen and baths; Private balcony plus in‑unit and lower‑level private storage
