Building Details

Building Size 1,880 SF

Year Built 1926

Listing Agency: KW Main Line - Narberth

Listed By: Damon C. Michels · License #AB067731 Show Phone

Source: Mainlinekw

Added: Sep 25 Changed: Oct 13 Last Checked: Oct 13 at 2:00AM

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Investment Insights

Based on property information with market context.

This 1,880-square-foot residence offers two bedrooms, two baths and a den. Hardwood floors extend throughout, and the living room has a fireplace and French doors opening to the additional room. The kitchen includes white cabinetry, granite countertops, a subway tile backsplash and a breakfast area, with access to a private balcony. A formal dining room, in-unit laundry, a primary suite with walk-in closet and ensuite bath, and a deeded garage parking space complete the layout. A long-term tenant is in place.

Residents have access to a maintained courtyard. The property is in the Lower Merion School District, near shops, restaurants, regional rail and St. Joseph's University, with access to Center City Philadelphia for commuting.

Key Highlights

• 1,880‑square‑foot residence with two bedrooms, two baths and a den
• Fireplace, hardwood floors and French doors connecting the living room to the den
• Kitchen with granite countertops, white cabinetry, subway tile backsplash and breakfast area

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,399

Cap Rate

5.64%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$507,980 $508.0K

Cap Rate 7%

$362,843 $362.8K

Cap Rate 9%

$282,211 $282.2K

Market Conditions

NOI Build-Up for 1,880 SF

Gross rent

$49.2K $26.16/SF

− Vacancy

−$3.0K −$1.60/SF

EGI

$46.2K $24.56/SF

− OpEx

−$20.8K −$11.05/SF

NOI

$25.4K $13.51/SF

Area

Montgomery County, PA

Vacancy

6.10%

Lease Rate

$26.16 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$507,980

Cap Rate 7%

$362,843

Cap Rate 9%

$282,211

Alternative Uses

Best Use

Apartment 5plus

$362.8K

$317.5K – $423.3K (±1% cap)

NOI $25,399 @ 7.0% cap · market cap 5.64%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$1.08M

$946.2K – $1.26M (±1% cap)

NOI $75,698 @ 7.0% cap · market cap 16.82%

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

Property Analytics

Current Use

Acel Technologies Telecommunications Service Yorklynne Manor Condominium Complex ArtsAction Group Charitable Organization Gidding Robert Law Firm

Suggested Use

Top Pick Real Estate Agency Building Supply Law Firm Electrical Service Auto Parts Store (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

652

Businesses Nearby

Explore this area Business Placement

Demographics for 19066, PA

6,107

Population

1,866

Households

3.3

Avg Household Size

38

Median Age

84%

College-Educated

98%

High-School Grad

1.3 sq mi

ZIP Area

4,698

Density / Sq Mi

$243,500

Median Household Income

$91,685

Median Earnings

$2,319

Median Rent

$871,300

Median Home Value

Questions? Ask Rey

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What type of property is this? Where is this residential income properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Residential income property - An existing tenant occupies a residence with two bedrooms, two baths and a den.

Where is this residential income property located?

The property is located at 415 CITY AVENUE Unit H-2 Merion Station, PA.

What is the asking price?

The asking price for this property is $450,000.

What are key features of this property?

This property features: 1,880‑square‑foot residence with two bedrooms, two baths and a den; Fireplace, hardwood floors and French doors connecting the living room to the den; Kitchen with granite countertops, white cabinetry, subway tile backsplash and breakfast area