First-Floor Residential Income
For Sale
$270,000
361 DRUMMERS LANE Unit 361, Wayne, PA 19087
A one-bedroom, one-bath layout provides outdoor access through a sliding glass door.
Property Size819 SF
Days on Market8
Property Features for 361 DRUMMERS LANE Unit 361
General Information
Standard status
Active
Size
819 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,721
Amenities
community pool
Building Details
Building Size
819 SF
Year Built
1970
Tenancy
Single
Listing Agency:
Real of Pennsylvania
Listed By:
William Holder · License #AB069692
(484) 744-4053
Source:
Lizclarkrealestate
Added: Oct 6
Changed: Oct 13
Last Checked: Oct 13 at 2:36AM
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 Real of Pennsylvania
Investment Insights
Based on property information with market context.
This first-floor condominium has one bedroom and one bathroom, with a sliding glass door that opens to the outdoors. The building dates to 1970, and residents have access to a community pool.
Located in Wayne, Pennsylvania, the property is tenant-occupied under a lease ending at the end of November.
Located in Wayne, Pennsylvania, the property is tenant-occupied under a lease ending at the end of November.
Key Highlights
- First‑floor condominium with 1 bedroom and 1 bathroom
- Sliding glass door provides walk‑out access to the outdoors
- Community pool available to residents
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,210
Cap Rate
3.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$164,200
$164.2K
Cap Rate 7%
$117,286
$117.3K
Cap Rate 9%
$91,222
$91.2K
Market Conditions
NOI Build-Up for 819 SF
Gross rent
$17.3K $21.12/SF
− Vacancy
−$2.4K −$2.89/SF
EGI
$14.9K $18.23/SF
− OpEx
−$6.7K −$8.20/SF
NOI
$8.2K $10.02/SF
Area
Delaware County, PA
Vacancy
13.70%
Lease Rate
$21.12 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$164,200
Cap Rate 7%
$117,286
Cap Rate 9%
$91,222
Alternative Uses
Best Use
Apartment 5plus
$117.3K
$102.6K – $136.8K
NOI $8,210 @ 7.0% cap · market cap 3.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$248.3K
$217.3K – $289.7K
NOI $17,382 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
921
Businesses Nearby
Explore this area
Business Placement
Demographics for 19087, PA
33,501
Population
12,829
Households
2.6
Avg Household Size
40
Median Age
78%
College-Educated
97%
High-School Grad
15.6 sq mi
ZIP Area
2,148
Density / Sq Mi
$165,451
Median Household Income
$71,234
Median Earnings
$2,130
Median Rent
$693,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - A one-bedroom, one-bath layout provides outdoor access through a sliding glass door.
Where is this residential income property located?
The property is located at 361 DRUMMERS LANE Unit 361 Wayne, PA.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: First‑floor condominium with 1 bedroom and 1 bathroom; Sliding glass door provides walk‑out access to the outdoors; Community pool available to residents
