Detached Duplex with Off-Street
For Sale
$500,000
343 SUMMER AVE, Horsham, PA 19044
Detached duplex with two units, separate utilities, and off-street parking for four on a level property.
Property Size2,016 SF
Lot Size0.66 Acres
Price / SF$248.02
Days on Market51
Property Features for 343 SUMMER AVE
General Information
Standard status
Active
Size
2,016 SF
Total Parking Spaces
4
Lot size
0.66 Acres
Property subtype
Multi-family
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
large backyard
in-unit laundry
Building Details
Stories
2
Tenancy
Multi
Listing Agency:
Homestarr Realty
(215) 355-5565
Listed By:
Pierre Mark Eade
(215) 584-3769
Source:
Careyrealtygroup
Added: Jul 26
Changed: Sep 8
Last Checked: Sep 13 at 12:31PM
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 Homestarr Realty
Investment Insights
Based on property information with market context.
This detached duplex on a level lot offers off-street parking for four vehicles and a large, usable backyard. Apartment A is configured with a spacious living room, dining room, kitchen, full bathroom, two bedrooms, and interior access to the full basement. Apartment B features a large living room, eat-in kitchen, full bathroom, and two bedrooms.
Both apartments have separate heating and hot water, as well as in-unit laundry. Tenants are responsible for utilities, including water, sewer, and trash, while the owner pays real estate taxes and insurance.
Recent updates include a new roof, replacement windows, updated exterior doors, new Bilco basement doors, recessed lighting, and new interior doors. Apartment B has additional interior improvements, including updated kitchen and bathroom finishes, along with upgraded appliances, a new hot water heater, and an in-wall air conditioner.
Both apartments have separate heating and hot water, as well as in-unit laundry. Tenants are responsible for utilities, including water, sewer, and trash, while the owner pays real estate taxes and insurance.
Recent updates include a new roof, replacement windows, updated exterior doors, new Bilco basement doors, recessed lighting, and new interior doors. Apartment B has additional interior improvements, including updated kitchen and bathroom finishes, along with upgraded appliances, a new hot water heater, and an in-wall air conditioner.
Key Highlights
- Detached duplex on 0.66 acres in Horsham Township; each unit has separate heating, hot water, and in‑unit laundry.
- Fully occupied at conveyance with established tenants, providing rental income from day one.
- Off‑street parking for four vehicles and a large, level backyard.
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
$29,292
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
5.86%
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%
$585,840
$585.8K
Cap Rate 7%
$418,457
$418.5K
Cap Rate 9%
$325,467
$325.5K
Market Conditions
NOI Build-Up for 2,016 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
$44.8K $22.20/SF
− Vacancy
−$2.9K −$1.44/SF
EGI
$41.8K $20.76/SF
− OpEx
−$12.6K −$6.23/SF
NOI
$29.3K $14.53/SF
Area
Montgomery County, PA
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
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%
$585,840
Cap Rate 7%
$418,457
Cap Rate 9%
$325,467
Alternative Uses
Best Use
Multifamily LT 5
$418.5K
$366.2K – $488.2K
NOI $29,292 @ 7.0% cap · market cap 5.86%
Second Best
Apartment 5plus
$389.1K
$340.5K – $454.0K
NOI $27,237 @ 7.0% cap · market cap 5.45%
Theoretical Best
Specialty Retail
$1.16M
$1.01M – $1.35M
NOI $81,174 @ 7.0% cap · market cap 16.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
745
Businesses Nearby
Explore this area
Business Placement
Demographics for 19044, PA
16,273
Population
7,144
Households
2.3
Avg Household Size
39
Median Age
46%
College-Educated
92%
High-School Grad
9.0 sq mi
ZIP Area
1,808
Density / Sq Mi
$96,189
Median Household Income
$49,945
Median Earnings
$1,434
Median Rent
$372,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Detached duplex with two units, separate utilities, and off-street parking for four on a level property.
Where is this duplex located?
The property is located at 343 SUMMER AVE Horsham, PA.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Detached duplex on 0.66 acres in Horsham Township; each unit has separate heating, hot water, and in‑unit laundry.; Fully occupied at conveyance with established tenants, providing rental income from day one.; Off‑street parking for four vehicles and a large, level backyard.
