Duplex with Fenced Rear
For Sale
$375,000
48 East Stewart Avenue, Lansdowne, PA 19050
Two-unit residential property with separate electric metering, off-street parking, and flexible living arrangements.
Property Size2,490 SF
Price / SF$150.60
Days on Market133
Property Features for 48 East Stewart Avenue
General Information
Standard status
Active
Size
2,490 SF
Total Parking Spaces
5
Property subtype
Multi-Family / Fee Simple
Zoning
RESIDENTIAL
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,255
Amenities
covered rear porch
fenced-in rear yard
off-street parking
basement laundry
Yes
1
Breakfast Area, Double/Dual Staircase, Wood Floors
No Pool
Building Details
Year Built
1890
Buildings
1
Stories
3
Listing Agency:
Long & Foster Real Estate, Inc.
(610) 247-7953
Listed By:
Kathryn A Molloy · License #RS205116L
(610) 247-7953
Source:
Compass
Added: Apr 20
Changed: Aug 30
Last Checked: Aug 30 at 12:24AM
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.
This residential duplex, built in 1890, contains 2,490 square feet across two distinct units. The first- and second-floor residence includes a living room, formal dining room, updated kitchen with breakfast area, laundry space, powder room, covered rear porch, three bedrooms, and a full bathroom. The third-floor unit adds an eat-in kitchen, multipurpose room, one large bedroom with walk-in closet, an additional flexible room, and a full bathroom.
Separate electric meters serve each unit. The basement provides third-floor laundry and storage for both residences, while the exterior includes a massive fenced-in rear yard and off-street parking. The property is in Lansdowne Borough, within walking distance of the Lansdowne Theater and less than 1 mile from a bus stop and commuter rail station. Regional rail access provides a connection to Center City, and an airport is less than 10 miles away.
Separate electric meters serve each unit. The basement provides third-floor laundry and storage for both residences, while the exterior includes a massive fenced-in rear yard and off-street parking. The property is in Lansdowne Borough, within walking distance of the Lansdowne Theater and less than 1 mile from a bus stop and commuter rail station. Regional rail access provides a connection to Center City, and an airport is less than 10 miles away.
Key Highlights
- 2,490‑square‑foot duplex built in 1890
- First- and second‑floor unit includes 3 bedrooms, formal dining room, breakfast area, and covered rear porch
- Third‑floor unit has 1 bedroom plus an additional flexible room
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
$27,292
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
7.28%
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%
$545,840
$545.8K
Cap Rate 7%
$389,886
$389.9K
Cap Rate 9%
$303,244
$303.2K
Market Conditions
NOI Build-Up for 2,490 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
$44.8K $18.00/SF
− Vacancy
−$5.8K −$2.34/SF
EGI
$39.0K $15.66/SF
− OpEx
−$11.7K −$4.70/SF
NOI
$27.3K $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%
$545,840
Cap Rate 7%
$389,886
Cap Rate 9%
$303,244
Alternative Uses
Best Use
Multifamily LT 5
$389.9K
$341.2K – $454.9K
NOI $27,292 @ 7.0% cap · market cap 7.28%
Second Best
Apartment 5plus
$356.6K
$312.0K – $416.0K
NOI $24,961 @ 7.0% cap · market cap 6.66%
Theoretical Best
Office A
$754.9K
$660.6K – $880.8K
NOI $52,846 @ 7.0% cap · market cap 14.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,076
Businesses Nearby
Explore this area
Business Placement
Demographics for 19050, PA
29,176
Population
12,695
Households
2.3
Avg Household Size
40
Median Age
30%
College-Educated
92%
High-School Grad
3.7 sq mi
ZIP Area
7,885
Density / Sq Mi
$62,517
Median Household Income
$44,408
Median Earnings
$1,166
Median Rent
$188,700
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?
Duplex - Two-unit residential property with separate electric metering, off-street parking, and flexible living arrangements.
Where is this duplex located?
The property is located at 48 East Stewart Avenue Lansdowne, 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: 2,490‑square‑foot duplex built in 1890; First- and second‑floor unit includes 3 bedrooms, formal dining room, breakfast area, and covered rear porch; Third‑floor unit has 1 bedroom plus an additional flexible room
