Brick Two-Unit
For Sale
$350,000
407 West Logan Street, Norristown, PA 19401
Two residences offer individual heating systems, a finished basement, storage, and coin-operated laundry.
Property Size1,632 SF
Price / SF$214.46
Days on Market195
Property Features for 407 West Logan Street
General Information
Standard status
Active
Size
1,632 SF
Property subtype
Multi-Family / Fee Simple
Zoning
GA
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,654
Amenities
coin-operated laundry
No
Kitchen - Eat-In
No Pool
Above Grade, Below Grade
Building Details
Year Built
1960
Buildings
1
Construction
brick
Listing Agency:
Lafayette Realty Services
(215) 583-7777
Listed By:
Nina Stamenova
(215) 583-7777
Source:
Compass
Added: Feb 16
Changed: Aug 30
Last Checked: Aug 30 at 7:56AM
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 Lafayette Realty Services
Investment Insights
Based on property information with market context.
This brick duplex, built in 1960, contains 1,632 square feet with one two-bedroom residence on each of two floors. Both units include a kitchen, living room, two bedrooms, and a full bathroom. Hardwood flooring is present on the first floor, while hardwood lies beneath carpeting in the upper unit. A finished basement adds laminate flooring, storage, and another full bathroom, along with coin-operated laundry. The lower level has its own electric meter and electric heat; the laundry equipment conveys as-is.
Each dwelling has separate gas heating and hot-water systems. The roof was replaced in 2009, and the property is zoned GA. Located at 407 West Logan Street in Norristown, the duplex is described as being near public transportation, major routes, and Elmwood Park Zoo.
Each dwelling has separate gas heating and hot-water systems. The roof was replaced in 2009, and the property is zoned GA. Located at 407 West Logan Street in Norristown, the duplex is described as being near public transportation, major routes, and Elmwood Park Zoo.
Key Highlights
- Two‑bedroom unit on each floor, with 1,632 square feet overall
- Finished basement with laminate flooring, storage, full bathroom, and coin‑operated laundry
- Separate gas heating and hot‑water systems serve each unit
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
$23,713
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
6.78%
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%
$474,260
$474.3K
Cap Rate 7%
$338,757
$338.8K
Cap Rate 9%
$263,478
$263.5K
Market Conditions
NOI Build-Up for 1,632 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
$36.2K $22.20/SF
− Vacancy
−$2.4K −$1.44/SF
EGI
$33.9K $20.76/SF
− OpEx
−$10.2K −$6.23/SF
NOI
$23.7K $14.53/SF
Area
Montgomery County, PA
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
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%
$474,260
Cap Rate 7%
$338,757
Cap Rate 9%
$263,478
Alternative Uses
Best Use
Multifamily LT 5
$338.8K
$296.4K – $395.2K
NOI $23,713 @ 7.0% cap · market cap 6.78%
Second Best
Apartment 5plus
$315.0K
$275.6K – $367.5K
NOI $22,049 @ 7.0% cap · market cap 6.30%
Theoretical Best
Specialty Retail
$938.7K
$821.4K – $1.10M
NOI $65,712 @ 7.0% cap · market cap 18.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
485
Businesses Nearby
Explore this area
Business Placement
Demographics for 19401, PA
43,414
Population
18,236
Households
2.4
Avg Household Size
36
Median Age
28%
College-Educated
86%
High-School Grad
6.2 sq mi
ZIP Area
7,002
Density / Sq Mi
$68,646
Median Household Income
$38,050
Median Earnings
$1,392
Median Rent
$225,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residences offer individual heating systems, a finished basement, storage, and coin-operated laundry.
Where is this duplex located?
The property is located at 407 West Logan Street Norristown, 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 unit on each floor, with 1,632 square feet overall; Finished basement with laminate flooring, storage, full bathroom, and coin‑operated laundry; Separate gas heating and hot‑water systems serve each unit
