Residential Income
For Sale
$370,000
Pending
40 WITHERSPOON COURT, Wayne, PA 19087
The first-floor condominium has two bedrooms, two bathrooms, and two off-street parking spaces.
Property Size1,266 SF
Days on Market20
Property Features for 40 WITHERSPOON COURT
General Information
Standard status
Pending
Size
1,266 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$3,864
Building Details
Building Size
1,266 SF
Year Built
1980
Listing Agency:
RE/MAX Professional Realty
Listed By:
Kirk R Simmon · License #RS290303
(484) 880-2388
Source:
Lizclarkrealestate
Added: Sep 28
Changed: Oct 10
Last Checked: Oct 16 at 4:27PM
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 RE/MAX Professional Realty
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Investment Insights
Based on property information with market context.
Located in Chesterbrook, this first-floor condominium offers two bedrooms, two bathrooms, and two off-street parking spaces. The property was built in 1980, with a new kitchen in 2024, bathroom updates in 2017 and 2010, new heating and air in 2023, and a water heater installed in 2020.
The association covers exterior building maintenance, trash removal, snow removal, and lawn care.
The association covers exterior building maintenance, trash removal, snow removal, and lawn care.
Key Highlights
- First‑floor condominium with 2 bedrooms and 2 bathrooms
- 2 off‑street parking spaces
- New kitchen completed in 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,691
Cap Rate
3.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$253,820
$253.8K
Cap Rate 7%
$181,300
$181.3K
Cap Rate 9%
$141,011
$141.0K
Market Conditions
NOI Build-Up for 1,266 SF
Gross rent
$26.7K $21.12/SF
− Vacancy
−$3.7K −$2.89/SF
EGI
$23.1K $18.23/SF
− OpEx
−$10.4K −$8.20/SF
NOI
$12.7K $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%
$253,820
Cap Rate 7%
$181,300
Cap Rate 9%
$141,011
Alternative Uses
Best Use
Apartment 5plus
$181.3K
$158.6K – $211.5K
NOI $12,691 @ 7.0% cap · market cap 3.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$383.8K
$335.9K – $447.8K
NOI $26,869 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
296
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 - The first-floor condominium has two bedrooms, two bathrooms, and two off-street parking spaces.
Where is this residential income property located?
The property is located at 40 WITHERSPOON COURT Wayne, PA.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: First‑floor condominium with 2 bedrooms and 2 bathrooms; 2 off‑street parking spaces; New kitchen completed in 2024
