Building Details

Building Size 1,104 SF

Year Built 1984

Listing Agency: RE/MAX Main Line - Devon

Listed By: Marie G Quinn · License #RS090949A Show Phone

Source: Lizclarkrealestate

Added: Sep 1 Changed: Oct 21 Last Checked: Oct 23 at 4:26PM

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Investment Insights

Based on property information with market context.

This second-floor residential income property is a two-bedroom condominium built in 1984. The interior has been freshly painted and features hardwood flooring, a vaulted living room ceiling with skylights, a wood-burning fireplace, and a balcony overlooking the grounds. The dining area connects to the living room and kitchen, which includes a stainless steel range, microwave, dishwasher, and refrigerator. A hallway laundry room provides a full-size stackable washer and dryer along with additional storage. The primary suite includes a walk-in closet and a full bath with a glass-enclosed shower, while the second bedroom is positioned near a separate full bath with a tub and shower.

The property is located in Chesterbrook near Wilson Park, Valley Forge National Park, and the Schuylkill Valley Bike Trail. Shopping options include TJ Maxx, Wegman's, Trader Joe's, and King of Prussia Mall. Access to the PA Turnpike and Routes 252, 76, and 202 adds regional connectivity.

Key Highlights

• Two‑bedroom condominium built in 1984
• Second‑floor layout with private balcony overlooking the grounds
• Vaulted living room ceiling with skylights and wood‑burning fireplace

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$11,067

Cap Rate

3.16%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$221,340 $221.3K

Cap Rate 7%

$158,100 $158.1K

Cap Rate 9%

$122,967 $123.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,104 SF

Gross rent

$23.3K $21.12/SF

− Vacancy

−$3.2K −$2.89/SF

EGI

$20.1K $18.23/SF

− OpEx

−$9.1K −$8.20/SF

NOI

$11.1K $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%

$221,340

Cap Rate 7%

$158,100

Cap Rate 9%

$122,967

Alternative Uses

Best Use

Apartment 5plus

$158.1K

$138.3K – $184.5K (±1% cap)

NOI $11,067 @ 7.0% cap · market cap 3.16%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$334.7K

$292.9K – $390.5K (±1% cap)

NOI $23,431 @ 7.0% cap · market cap 6.69%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Lease Details

1

Residential units

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

318

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

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Frequently Asked Questions

What type of property is this?

Residential income property - Freshly painted condominium with hardwood floors, vaulted living space, updated kitchen appliances, and a private balcony.

Where is this residential income property located?

The property is located at 37 LE FORGE COURT Unit 37 Chesterbrook, 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 condominium built in 1984; Second‑floor layout with private balcony overlooking the grounds; Vaulted living room ceiling with skylights and wood‑burning fireplace