Two-Bedroom Residential Income
For Sale
$175,000
309 FLORENCE AVENUE Unit 414-N, Jenkintown, PA 19046
Secure condominium residence with hardwood floors, granite kitchen counters, updated baths, and a private balcony.
Property Size1,092 SF
Days on Market18
Property Features for 309 FLORENCE AVENUE Unit 414-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
$4,568
Amenities
pool
Building Details
Building Size
1,092 SF
Year Built
1965
Listing Agency:
Weichert Realtors
Listed By:
Jane S Taylor · License #RS282434
(215) 776-2026
Source:
Lizclarkrealestate
Added: Aug 18
Changed: Aug 31
Last Checked: Sep 2 at 12:31AM
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 Weichert Realtors
Investment Insights
Based on property information with market context.
This two-bedroom, two-bath condominium is located in the north building at 309 Florence Avenue. The interior includes hardwood flooring through the living room, dining area, and hallway, along with a galley kitchen finished with granite countertops. One bedroom is served by an updated full bath, while the primary bedroom accommodates space for a sitting or office area and includes two closets, an en suite bath with a stand-up shower, and a linen closet. Additional storage is located near the kitchen, and the oversized balcony provides a private outdoor area.
The building is fully secured, and the train station is within walking distance. Heat, air conditioning, water/sewer, and building maintenance are included in the maintenance fee. Swimming pool membership is available. The property was built in 1965.
The building is fully secured, and the train station is within walking distance. Heat, air conditioning, water/sewer, and building maintenance are included in the maintenance fee. Swimming pool membership is available. The property was built in 1965.
Key Highlights
- Two‑bedroom, two‑bath condominium in the north building
- Hardwood flooring spans the living room, dining area, and hallway
- Galley kitchen with granite countertops and nearby storage closet
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
8.43%
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 8.43%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$628.1K
$549.6K – $732.8K
NOI $43,969 @ 7.0% cap · market cap 25.13%
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 - Secure condominium residence with hardwood floors, granite kitchen counters, updated baths, and a private balcony.
Where is this residential income property located?
The property is located at 309 FLORENCE AVENUE Unit 414-N Jenkintown, PA.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath condominium in the north building; Hardwood flooring spans the living room, dining area, and hallway; Galley kitchen with granite countertops and nearby storage closet
