Residential Income Condominium with
For Sale
$250,000
412 N WAYNE AVENUE #208, Wayne, PA 19087
Second-floor condominium in an elevator building with outdoor parking, on-site laundry, and walkable access to Wayne’s shopping district.
Property Size1,130 SF
Price / SF$221.24
Days on Market98
Property Features for 412 N WAYNE AVENUE #208
General Information
Standard status
Active
Size
1,130 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
laundry on site
walk-out patio
Hot Water
Window Unit(s)
Building Details
Year Built
1953
Listed By:
Dora Johns · License #RS339643
(215) 681-0392
Source:
Kw
Added: Jul 4
Changed: Oct 7
Last Checked: Oct 9 at 6:54PM
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 Dora Johns
Investment Insights
Based on property information with market context.
This second-floor residential income condominium offers 2 bedrooms, 2 baths, and 1,130 square feet of living space within a 1953 elevator building. The unit features abundant natural light, a walk-out patio, hot water, and window unit cooling. The building contains 43 units and provides on-site laundry along with plentiful free outdoor parking. HOA services include heat and water, while one cat is permitted.
The property is located in historic Wayne on the Main Line, a short stroll from the local shopping district and its shops and restaurants. Public transportation is readily accessible, including proximity to the Wayne train station. Nearby universities are also identified in the property information as part of the surrounding context.
The property is located in historic Wayne on the Main Line, a short stroll from the local shopping district and its shops and restaurants. Public transportation is readily accessible, including proximity to the Wayne train station. Nearby universities are also identified in the property information as part of the surrounding context.
Key Highlights
- 2‑bedroom, 2‑bath condominium with 1,130 sq. ft. of living space
- Second‑floor residence in a 1953 elevator building
- Walk‑out patio and abundant natural light
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,328
Cap Rate
4.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$226,560
$226.6K
Cap Rate 7%
$161,829
$161.8K
Cap Rate 9%
$125,867
$125.9K
Market Conditions
NOI Build-Up for 1,130 SF
Gross rent
$23.9K $21.12/SF
− Vacancy
−$3.3K −$2.89/SF
EGI
$20.6K $18.23/SF
− OpEx
−$9.3K −$8.20/SF
NOI
$11.3K $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%
$226,560
Cap Rate 7%
$161,829
Cap Rate 9%
$125,867
Alternative Uses
Best Use
Apartment 5plus
$161.8K
$141.6K – $188.8K
NOI $11,328 @ 7.0% cap · market cap 4.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$342.6K
$299.8K – $399.7K
NOI $23,982 @ 7.0% cap · market cap 9.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,515
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 - Second-floor condominium in an elevator building with outdoor parking, on-site laundry, and walkable access to Wayne’s shopping district.
Where is this residential income property located?
The property is located at 412 N WAYNE AVENUE #208 Wayne, PA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 2‑bedroom, 2‑bath condominium with 1,130 sq. ft. of living space; Second‑floor residence in a 1953 elevator building; Walk‑out patio and abundant natural light
