First-Floor Residential Income
New
For Sale
$350,000
350 W ELM STREET Unit 3122, Conshohocken, PA 19428
Updated condominium with private bedroom separation, resort-style amenities, and convenient regional transportation access.
Property Size1,254 SF
Days on Market7
Property Features for 350 W ELM STREET Unit 3122
General Information
Standard status
Active
Size
1,254 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,477
Amenities
pool
fitness center
outdoor BBQ area
Building Details
Building Size
1,254 SF
Year Built
2011
Listing Agency:
BHHS Fox & Roach Wayne-Devon
(610) 213-7670
Listed By:
Joann Massengill · License #RS198122L
(610) 213-7670
Source:
Lizclarkrealestate
Added: Aug 7
Changed: Aug 12
Last Checked: Aug 12 at 5:38AM
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 Wayne-Devon
Investment Insights
Based on property information with market context.
This first-floor condominium offers a two-bedroom, two-bath layout organized around an open living and dining area. The updated kitchen includes granite countertops and stainless steel appliances, while the bedroom placement on opposite sides of the main living space adds separation. Both bedrooms have walk-in closets, with the primary bedroom featuring an ensuite bath and the second bedroom connecting to a full hall bath. An in-unit washer and dryer further support daily convenience.
The property was built in 2011 and includes deeded parking space #35 along with guest parking. Community amenities include a pool, fitness center, and outdoor BBQ area. The home is located near Downtown Conshohocken, the train station, Schuylkill River Trail, restaurants, shopping, and nightlife, with access to I-76, I-476, I-95, and Kelly Drive.
The property was built in 2011 and includes deeded parking space #35 along with guest parking. Community amenities include a pool, fitness center, and outdoor BBQ area. The home is located near Downtown Conshohocken, the train station, Schuylkill River Trail, restaurants, shopping, and nightlife, with access to I-76, I-476, I-95, and Kelly Drive.
Key Highlights
- Two‑bedroom, two‑bath first‑floor condominium
- Updated kitchen with granite countertops and stainless steel appliances
- Deeded parking space #35 plus guest parking
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
$16,942
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
4.84%
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%
$338,840
$338.8K
Cap Rate 7%
$242,029
$242.0K
Cap Rate 9%
$188,244
$188.2K
Market Conditions
NOI Build-Up for 1,254 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
$32.8K $26.16/SF
− Vacancy
−$2.0K −$1.60/SF
EGI
$30.8K $24.56/SF
− OpEx
−$13.9K −$11.05/SF
NOI
$16.9K $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%
$338,840
Cap Rate 7%
$242,029
Cap Rate 9%
$188,244
Alternative Uses
Best Use
Apartment 5plus
$242.0K
$211.8K – $282.4K
NOI $16,942 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$721.3K
$631.2K – $841.5K
NOI $50,492 @ 7.0% cap · market cap 14.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,597
Businesses Nearby
Explore this area
Business Placement
Demographics for 19428, PA
19,690
Population
10,032
Households
2
Avg Household Size
36
Median Age
66%
College-Educated
97%
High-School Grad
7.3 sq mi
ZIP Area
2,697
Density / Sq Mi
$116,566
Median Household Income
$73,713
Median Earnings
$1,900
Median Rent
$445,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condominium with private bedroom separation, resort-style amenities, and convenient regional transportation access.
Where is this residential income property located?
The property is located at 350 W ELM STREET Unit 3122 Conshohocken, PA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath first‑floor condominium; Updated kitchen with granite countertops and stainless steel appliances; Deeded parking space #35 plus guest parking
