Multifamily Property With Separate Living
For Sale
$339,000
Pending
402 Poplar St, Darby, PA 19023
Residential income property with separate living area, natural-gas heating, full bath, and on-street parking.
Property Size2,208 SF
Days on Market100
Property Features for 402 Poplar St
General Information
Standard status
Pending
Size
2,208 SF
Property subtype
Residential Income
Zoning
R
Taxes and HOA fees
Annual Taxes
$4,032
Amenities
Ceiling Fan(s)
Baseboard, Hot Water, Radiant, Natural Gas
Full
Dishwasher, Refrigerator, Gas Oven, Gas Range
On Street
Dwelling w/Separate Living Area
Building Details
Building Size
2,208 SF
Year Built
1930
Stories
3
Listing Agency:
Simple Choice Realty, Inc
Listed By:
Christopher J Carr · License #PB00096279
(855) 885-4663
Source:
Evrealestate
Added: Jun 12
Changed: Sep 12
Last Checked: Sep 18 at 4:56AM
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 Simple Choice Realty, Inc
Investment Insights
Based on property information with market context.
This 2,208-square-foot multifamily property was built in 1930 and includes a separate living area. Interior features include ceiling fans, a full bathroom, and a kitchen equipped with a dishwasher, refrigerator, gas oven, and gas range. Heating is provided through baseboard, hot water, and radiant systems using natural gas.
The property is located at 402 Poplar St in Darby, Delaware County, Pennsylvania. On-street parking is available, and the property carries R zoning.
The property is located at 402 Poplar St in Darby, Delaware County, Pennsylvania. On-street parking is available, and the property carries R zoning.
Key Highlights
- 2,208‑square‑foot multifamily property
- Separate living area within the dwelling
- Built in 1930
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
$22,134
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
6.53%
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%
$442,680
$442.7K
Cap Rate 7%
$316,200
$316.2K
Cap Rate 9%
$245,933
$245.9K
Market Conditions
NOI Build-Up for 2,208 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
$46.6K $21.12/SF
− Vacancy
−$6.4K −$2.89/SF
EGI
$40.2K $18.23/SF
− OpEx
−$18.1K −$8.20/SF
NOI
$22.1K $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 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%
$442,680
Cap Rate 7%
$316,200
Cap Rate 9%
$245,933
Alternative Uses
Best Use
Apartment 5plus
$316.2K
$276.7K – $368.9K
NOI $22,134 @ 7.0% cap · market cap 6.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$669.4K
$585.8K – $781.0K
NOI $46,861 @ 7.0% cap · market cap 13.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,087
Businesses Nearby
Explore this area
Business Placement
Demographics for 19023, PA
22,180
Population
9,089
Households
2.4
Avg Household Size
34
Median Age
17%
College-Educated
87%
High-School Grad
2.0 sq mi
ZIP Area
11,090
Density / Sq Mi
$48,962
Median Household Income
$37,110
Median Earnings
$1,240
Median Rent
$117,200
Median Home Value
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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?
Multifamily property - Residential income property with separate living area, natural-gas heating, full bath, and on-street parking.
Where is this multifamily property located?
The property is located at 402 Poplar St Darby, PA.
What is the asking price?
The asking price for this property is $339,000.
What are key features of this property?
This property features: 2,208‑square‑foot multifamily property; Separate living area within the dwelling; Built in 1930
