Building Details

Year Built 1984

Listing Agency: Iron Valley Real Estate of Lehigh Valley d***@ivreoflehighvalley.com Show Phone

Listed By: Andrew R Stimpfle Show Phone

Source: Cummingsrealtors

Added: Aug 18 Changed: Oct 16 Last Checked: Oct 16 at 9:03AM

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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 Iron Valley Real Estate of Lehigh Valley

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Investment Insights

Based on property information with market context.

This 1,632-square-foot residential income property is a south-facing condo built in 1984. The interior combines vaulted ceilings, skylights, engineered hardwood flooring, and an open arrangement connecting the living, dining, and kitchen areas. Kitchen improvements include granite countertops and newer appliances. A glass door opens to a private balcony with a utility room and storage, while a separate laundry room adds further utility. The primary suite includes a renovated bathroom and a walk-in closet fitted with a custom organization system.

The property is located in the Chesterbrook community near Wilson Farm Park, major highways, shopping, dining, and everyday services. It is also within the Tredyffrin-Easttown School District.

Key Highlights

• 1,632 SF south‑facing condo in Chesterbrook
• Vaulted ceilings and skylights provide an open, naturally bright interior
• Updated kitchen with granite countertops and newer appliances

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,360

Cap Rate

4.36%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$327,200 $327.2K

Cap Rate 7%

$233,714 $233.7K

Cap Rate 9%

$181,778 $181.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,632 SF

Gross rent

$34.5K $21.12/SF

− Vacancy

−$4.7K −$2.89/SF

EGI

$29.7K $18.23/SF

− OpEx

−$13.4K −$8.20/SF

NOI

$16.4K $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%

$327,200

Cap Rate 7%

$233,714

Cap Rate 9%

$181,778

Alternative Uses

Best Use

Apartment 5plus

$233.7K

$204.5K – $272.7K (±1% cap)

NOI $16,360 @ 7.0% cap · market cap 4.36%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$494.8K

$433.0K – $577.3K (±1% cap)

NOI $34,636 @ 7.0% cap · market cap 9.24%

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 Parking Lot & Garage Big Box & Wholesale Store Dental Office Hair Salon (Bike/Boat/Book/etc) Store Kitchen & Bath Showroom

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

318

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 - Updated condo with vaulted interiors, private balcony, and flexible storage areas in Chesterbrook.

Where is this residential income property located?

The property is located at 46 LE FORGE COURT #46 Chesterbrook, PA.

What is the asking price?

The asking price for this property is $375,000.

What are key features of this property?

This property features: 1,632 SF south‑facing condo in Chesterbrook; Vaulted ceilings and skylights provide an open, naturally bright interior; Updated kitchen with granite countertops and newer appliances