Building Details

Building Size 775 SF

Year Built 1973

Listing Agency: BHHS Fox & Roach Wayne-Devon Show Phone

Listed By: Tracey M. Frederick · License #RS357718 Show Phone

Source: Lizclarkrealestate

Added: Jul 29 Changed: Aug 31 Last Checked: Aug 30 at 11:21PM

Report an Issue

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 BHHS Fox & Roach Wayne-Devon

Investment Insights

Based on property information with market context.

This first-floor, one-bedroom condominium offers an updated interior and a practical open layout. The living and dining areas share a fireplace, while the kitchen connects directly to the main living space. The bedroom includes two walk-in closets, and additional closets provide flexible storage or office space. A full bathroom, dedicated laundry area with shelving, newer HVAC, fresh paint, and new carpeting complete the residence. Parking is located near the unit, and the home includes a patio.

Old Forge Crossing spans 40 landscaped acres with a community pool, tennis courts, walking paths, a reflection pond, and private access to the Chester County Trail. Devon SEPTA Regional Rail Station, major bus routes, Route 202, the Pennsylvania Turnpike, corporate centers, King of Prussia, shopping, and dining are all described as minutes away. Association services include roof, water, lawn, snow, trash and recycling, exterior maintenance, parking lot and road maintenance, tree care, and select gas service.

Key Highlights

• One‑bedroom, first‑floor condominium with patio and parking near the unit
• Updated with newer HVAC, fresh paint, and new carpeting
• Open living and dining areas with fireplace

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

$8,404

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

3.50%

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%

$168,080 $168.1K

Cap Rate 7%

$120,057 $120.1K

Cap Rate 9%

$93,378 $93.4K

Market Conditions

NOI Build-Up for 775 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

$16.6K $21.36/SF

− Vacancy

−$1.3K −$1.64/SF

EGI

$15.3K $19.72/SF

− OpEx

−$6.9K −$8.87/SF

NOI

$8.4K $10.84/SF

Area

Chester County, PA

Vacancy

7.70%

Lease Rate

$21.36 /SF/Yr

Expense Ratio

45.00%

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%

$168,080

Cap Rate 7%

$120,057

Cap Rate 9%

$93,378

Alternative Uses

Best Use

Apartment 5plus

$120.1K

$105.1K – $140.1K (±1% cap)

NOI $8,404 @ 7.0% cap · market cap 3.50%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$235.0K

$205.6K – $274.1K (±1% cap)

NOI $16,448 @ 7.0% cap · market cap 6.85%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Residential income properties

Suggested Use

Top Pick Parking Lot & Garage Hair Salon Auto Repair Shop Grocery & Convenience Store (Bike/Boat/Book/etc) Store Furniture & Home Goods

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

494

Businesses Nearby

Explore this area Business Placement

Demographics for 19333, PA

7,734

Population

3,039

Households

2.5

Avg Household Size

41

Median Age

83%

College-Educated

99%

High-School Grad

3.7 sq mi

ZIP Area

2,090

Density / Sq Mi

$157,083

Median Household Income

$94,262

Median Earnings

$1,833

Median Rent

$688,700

Median Home Value

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

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?

Ask Rey about this property ...

Similar For Sale Nearby

Bank Building With Drive-Through

414 W Lancaster Ave, Devon, PA 19333

$2,800,000

2,934 SF

View details

Two-Bedroom Residential Income Property

255 OLD FORGE CROSSING, Devon, PA 19333

$335,000

View details

2-Bedroom Residential Income Property

290 OLD FORGE CROSSING #290, Devon, PA 19333

$335,000

View details

Frequently Asked Questions

What type of property is this?

Residential income property - Updated first-floor condominium with a fireplace, private patio, dedicated laundry, and abundant storage throughout.

Where is this residential income property located?

The property is located at 461 OLD FORGE CROSSING Unit 461 Devon, PA.

What is the asking price?

The asking price for this property is $240,000.

What are key features of this property?

This property features: One‑bedroom, first‑floor condominium with patio and parking near the unit; Updated with newer HVAC, fresh paint, and new carpeting; Open living and dining areas with fireplace