Renovated Triplex with Separate
For Sale
$370,000
Pending
46 S STATE ROAD, Upper Darby, PA 19082
Updated three-unit property with two two-bedroom residences and one one-bedroom residence.
Property Size2,030 SF
Days on Market146
Property Features for 46 S STATE ROAD
General Information
Standard status
Pending
Size
2,030 SF
Property subtype
Triplex
Units
Unit Mix
2 x 2BR, 1 x 1BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,557
Amenities
individual locked mailboxes
shared secure package box
Building Details
Building Size
2,030 SF
Year Built
1960
Buildings
1
Listing Agency:
Long & Foster Real Estate, Inc.
(267) 257-4051
Listed By:
Robert B Travers · License #RS316370
(267) 257-4051
Source:
Patmckennarealtors
Added: Apr 6
Changed: Aug 8
Last Checked: Aug 5 at 4:04AM
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 Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
Located at 46 S State Road in Upper Darby, this 1960 triplex contains two 2-bedroom units and one 1-bedroom unit. Recent improvements include flooring, windows, roofing, and modern interior finishes. The property also includes an attic suitable for storage and a basement laundry area. Each residence has its own electric meter, while updated plumbing and newer 2-zone hydronic heating support the building’s core systems.
The property has individual locked mailboxes, a shared secure package box, and a reconditioned, code-approved fire escape with egress windows. Required Use and Occupancy inspections have been completed. Schools, shopping, dining, and public transportation are within walking distance, providing convenient access to nearby daily amenities and transit options.
The property has individual locked mailboxes, a shared secure package box, and a reconditioned, code-approved fire escape with egress windows. Required Use and Occupancy inspections have been completed. Schools, shopping, dining, and public transportation are within walking distance, providing convenient access to nearby daily amenities and transit options.
Key Highlights
- Two 2‑bedroom units plus one 1‑bedroom unit
- Recent updates include flooring, windows, roofing, and interior finishes
- Separate electric meters for all three units
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
$22,250
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
6.01%
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%
$445,000
$445.0K
Cap Rate 7%
$317,857
$317.9K
Cap Rate 9%
$247,222
$247.2K
Market Conditions
NOI Build-Up for 2,030 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
$36.5K $18.00/SF
− Vacancy
−$4.8K −$2.34/SF
EGI
$31.8K $15.66/SF
− OpEx
−$9.5K −$4.70/SF
NOI
$22.3K $10.96/SF
Area
Delaware County, PA
Vacancy
13.01%
Lease Rate
$18.00 /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%
$445,000
Cap Rate 7%
$317,857
Cap Rate 9%
$247,222
Alternative Uses
Best Use
Multifamily LT 5
$317.9K
$278.1K – $370.8K
NOI $22,250 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$290.7K
$254.4K – $339.2K
NOI $20,350 @ 7.0% cap · market cap 5.50%
Theoretical Best
Office A
$615.5K
$538.5K – $718.1K
NOI $43,083 @ 7.0% cap · market cap 11.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,382
Businesses Nearby
Explore this area
Business Placement
Demographics for 19082, PA
42,761
Population
16,775
Households
2.5
Avg Household Size
35
Median Age
23%
College-Educated
84%
High-School Grad
2.6 sq mi
ZIP Area
16,447
Density / Sq Mi
$55,551
Median Household Income
$36,139
Median Earnings
$1,178
Median Rent
$155,400
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?
Triplex - Updated three-unit property with two two-bedroom residences and one one-bedroom residence.
Where is this triplex located?
The property is located at 46 S STATE ROAD Upper Darby, PA.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: Two 2‑bedroom units plus one 1‑bedroom unit; Recent updates include flooring, windows, roofing, and interior finishes; Separate electric meters for all three units
