Updated Duplex with Off-Street
New
For Sale
$325,000
506 RYERS Avenue, Cheltenham, PA 19012
Multi-Family, CHELTENHAM, PA
Property Size1,280 SF
Lot Size0.08 Acres
Price / SF$253.91
Days on Market2
Property Features for 506 RYERS Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Parking Lot, Off Street, Driveway
Elementary school district
CHELTENHAM
Middle school district
CHELTENHAM
High school district
CHELTENHAM
Standard status
Active
Size
1,280 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
7416
Utilities
Heating system
Central
Cooling system
Window Unit(s), Wall Unit(s)
Amenities
rear yard
basement
Building Details
Year built
1965
Number of units
2
Building materials
Brick
Architectural style
Other
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(215) 923-7600
Listed By:
Philip R. Cavalcanto · License #RS287419
(215) 681-6610
Added: Sep 8
Last Checked: Sep 9 at 7:06PM
MLS# PAMC2192908
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This brick duplex contains two separate one-bedroom units within 1,280 square feet. Both residences include updated kitchens with newer appliances, while central heating and window and wall air-conditioning units support year-round occupancy. The property was built in 1965 and includes a large basement for storage, utilities, and household needs.
The 0.0829-acre parcel includes a rear yard and parking for up to four cars through its driveway, parking lot, and off-street spaces. Located at 506 Ryers Avenue in Cheltenham, the property provides a two-unit residential configuration suitable for an owner-occupant or rental ownership.
The 0.0829-acre parcel includes a rear yard and parking for up to four cars through its driveway, parking lot, and off-street spaces. Located at 506 Ryers Avenue in Cheltenham, the property provides a two-unit residential configuration suitable for an owner-occupant or rental ownership.
Key Highlights
- Two separate one‑bedroom units within 1,280 square feet
- Updated kitchens with newer appliances
- Parking for up to four cars
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
$18,598
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
5.72%
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%
$371,960
$372.0K
Cap Rate 7%
$265,686
$265.7K
Cap Rate 9%
$206,644
$206.6K
Market Conditions
NOI Build-Up for 1,280 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
$28.4K $22.20/SF
− Vacancy
−$1.8K −$1.44/SF
EGI
$26.6K $20.76/SF
− OpEx
−$8.0K −$6.23/SF
NOI
$18.6K $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%
$371,960
Cap Rate 7%
$265,686
Cap Rate 9%
$206,644
Alternative Uses
Best Use
Multifamily LT 5
$265.7K
$232.5K – $310.0K
NOI $18,598 @ 7.0% cap · market cap 5.72%
Second Best
Apartment 5plus
$247.0K
$216.2K – $288.2K
NOI $17,293 @ 7.0% cap · market cap 5.32%
Theoretical Best
Specialty Retail
$736.3K
$644.2K – $859.0K
NOI $51,539 @ 7.0% cap · market cap 15.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,101
Businesses Nearby
Explore this area
Business Placement
Demographics for 19012, PA
6,699
Population
2,314
Households
2.9
Avg Household Size
40
Median Age
43%
College-Educated
90%
High-School Grad
1.7 sq mi
ZIP Area
3,941
Density / Sq Mi
$117,614
Median Household Income
$53,216
Median Earnings
$1,226
Median Rent
$320,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 one-bedroom residences offer updated kitchens, basement storage, and outdoor space in Cheltenham.
Where is this duplex located?
The property is located at 506 RYERS Avenue Cheltenham, PA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two separate one‑bedroom units within 1,280 square feet; Updated kitchens with newer appliances; Parking for up to four cars
