Building Details

Year built 2007

Listing Agency: Media Show Phone

Listed By: Anna Lee

Added: Oct 15 Changed: Oct 16 Last Checked: Oct 17 at 8:06PM

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MLS# PADE2125868

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Investment Insights

Based on property information with market context.

Built in 2007, this 1,178-square-foot residence has two bedrooms, a den or office, and two bathrooms. Its open living and dining area connects to a kitchen with a dishwasher, refrigerator, and stove. A washer and dryer closet, ceiling fans, wood-look flooring, and a separate storage unit add practical features. The primary bathroom has an oversized stall shower, while the hall bathroom includes a tub and shower.

The home is within the Trad at Ridley Creek community, which offers a clubhouse and a locked main entrance. An assigned parking space is included. Association services cover common-area upkeep, landscaping, snow removal, trash, and water. Shopping and transportation are nearby, with access to I-95 and the airport also noted.

Key Highlights

• 1,178 square feet of finished space
• Two bedrooms, a den or office, and two bathrooms
• Built in 2007

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$11,809

Cap Rate

4.00%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$236,180 $236.2K

Cap Rate 7%

$168,700 $168.7K

Cap Rate 9%

$131,211 $131.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,178 SF

Gross rent

$24.9K $21.12/SF

− Vacancy

−$3.4K −$2.89/SF

EGI

$21.5K $18.23/SF

− OpEx

−$9.7K −$8.20/SF

NOI

$11.8K $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%

$236,180

Cap Rate 7%

$168,700

Cap Rate 9%

$131,211

Alternative Uses

Best Use

Apartment 5plus

$168.7K

$147.6K – $196.8K (±1% cap)

NOI $11,809 @ 7.0% cap · market cap 4.00%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$357.2K

$312.5K – $416.7K (±1% cap)

NOI $25,001 @ 7.0% cap · market cap 8.47%

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

Property Analytics

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Current Use

Residential income properties

Suggested Use

Top Pick Real Estate Agency Law Firm Parking Lot & Garage Skin Care Clinic (Bike/Boat/Book/etc) Store Spa & Massage Center

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

Lease Details

1

Residential units

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

610

Businesses Nearby

Explore this area Business Placement

Demographics for 19015, PA

16,260

Population

7,160

Households

2.3

Avg Household Size

39

Median Age

29%

College-Educated

94%

High-School Grad

2.9 sq mi

ZIP Area

5,607

Density / Sq Mi

$84,783

Median Household Income

$49,480

Median Earnings

$1,170

Median Rent

$232,800

Median Home Value

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Frequently Asked Questions

What type of property is this?

Residential income property - The single-level residence is part of a 55-and-older community with a clubhouse and assigned parking.

Where is this residential income property located?

The property is located at 423 CREEKSIDE DR #423 Brookhaven, PA.

What is the asking price?

The asking price for this property is $295,000.

What are key features of this property?

This property features: 1,178 square feet of finished space; Two bedrooms, a den or office, and two bathrooms; Built in 2007