Four-Unit Brick
New
For Sale
$775,000
434 W Walnut St, North Wales, PA 19454
Occupied residences include on-site laundry, a detached garage, and surface parking.
Property Size3,310 SF
Price / SF$234.14
Days on Market7
Property Features for 434 W Walnut St
General Information
Standard status
Active
Size
3,310 SF
Total Parking Spaces
7
Property subtype
Commercial
Occupancy
100%
Property Condition
Severity
Repairs Needed
Evidence
opportunities for thoughtful interior updates
Units
Unit Mix
3 x 1BR, 1 x 2BR + den
Multifamily Units
4
Additional Details
Public Transit
Yes
Amenities
coin-operated on-site laundry
Building Details
Year Built
1900
Construction
brick
Abandoned
No
Listing Agency:
TCS Management, LLC
Listed By:
Alex C Prince · License #RS322309
(215) 383-1439
Source:
Baltimoreharfordhomesforsale
Added: Sep 2
Changed: Sep 7
Last Checked: Sep 7 at 10:03AM
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 TCS Management, LLC
Investment Insights
Based on property information with market context.
This 3,310-square-foot brick quadplex, built in 1900, contains four occupied residences: three one-bedroom units and one two-bedroom unit with a den. The property includes a detached two-car garage, five surface parking spaces, and coin-operated laundry on site. Interior improvement potential includes kitchens, bathrooms, flooring, and fixtures.
Located at 434 W Walnut St in North Wales Borough, the property offers access to major roadways and SEPTA’s North Wales Station. Its unit mix, parking, garage, and on-site laundry provide a practical configuration for a multifamily property in an established borough setting.
Located at 434 W Walnut St in North Wales Borough, the property offers access to major roadways and SEPTA’s North Wales Station. Its unit mix, parking, garage, and on-site laundry provide a practical configuration for a multifamily property in an established borough setting.
Key Highlights
- Four occupied units: three one‑bedroom residences and one two‑bedroom residence with a den
- 3,310 square feet on a 0.19‑acre parcel
- Detached two‑car garage plus five surface parking spaces
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
$48,094
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
6.21%
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%
$961,880
$961.9K
Cap Rate 7%
$687,057
$687.1K
Cap Rate 9%
$534,378
$534.4K
Market Conditions
NOI Build-Up for 3,310 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
$73.5K $22.20/SF
− Vacancy
−$4.8K −$1.44/SF
EGI
$68.7K $20.76/SF
− OpEx
−$20.6K −$6.23/SF
NOI
$48.1K $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%
$961,880
Cap Rate 7%
$687,057
Cap Rate 9%
$534,378
Alternative Uses
Best Use
Multifamily LT 5
$687.1K
$601.2K – $801.6K
NOI $48,094 @ 7.0% cap · market cap 6.21%
Second Best
Apartment 5plus
$638.8K
$559.0K – $745.3K
NOI $44,719 @ 7.0% cap · market cap 5.77%
Theoretical Best
Specialty Retail
$1.90M
$1.67M – $2.22M
NOI $133,276 @ 7.0% cap · market cap 17.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
439
Businesses Nearby
Explore this area
Business Placement
Demographics for 19454, PA
28,833
Population
11,212
Households
2.6
Avg Household Size
46
Median Age
53%
College-Educated
96%
High-School Grad
12.3 sq mi
ZIP Area
2,344
Density / Sq Mi
$114,323
Median Household Income
$61,287
Median Earnings
$1,762
Median Rent
$438,200
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?
Quadplex - Occupied residences include on-site laundry, a detached garage, and surface parking.
Where is this quadplex located?
The property is located at 434 W Walnut St North Wales, PA.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Four occupied units: three one‑bedroom residences and one two‑bedroom residence with a den; 3,310 square feet on a 0.19‑acre parcel; Detached two‑car garage plus five surface parking spaces
