Updated Residential Income
For Sale
$289,500
510 N LEMON STREET #D2, Media, PA 19063
Two-bedroom condominium with a creek-facing enclosed sunroom, renovated kitchen, and private primary bathroom.
Property Size975 SF
Price / SF$296.92
Days on Market42
Property Features for 510 N LEMON STREET #D2
General Information
Standard status
Active
Size
975 SF
Property subtype
Apartment
Building Details
Year Built
1973
Listing Agency:
Houwzer, LLC
(609) 790-4824
Listed By:
Michael DeFiore
(609) 790-4824
Source:
Cummingsrealtors
Added: Jul 22
Changed: Aug 31
Last Checked: Aug 31 at 3:56PM
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 Houwzer, LLC
Investment Insights
Based on property information with market context.
This 975-square-foot condominium at 510 N. Lemon Street includes 2 bedrooms and 2 full bathrooms. The interior centers on a large living room connected by French doors to an enclosed sunroom with creek views and additional storage. The kitchen has quartz countertops, a deep sink, painted cabinetry, and newer stainless steel appliances, while the primary suite offers generous closet space, in-unit laundry, and a renovated private bath with a walk-in shower. A second bedroom and updated hall bathroom add flexibility within the residence.
The property is located in the Hickory Hill community of Media Borough, minutes from Media’s State Street dining and shopping district, Granite Run, the Blue Route, and public transportation. Ownership includes a private storage unit across the hall, assigned parking space #27, and access to a community car-washing area. HOA services include water, trash removal, snow removal, and common-area maintenance. Owner-occupants only; no investors, smoking, pets, or trucks in lower-lot assigned parking.
The property is located in the Hickory Hill community of Media Borough, minutes from Media’s State Street dining and shopping district, Granite Run, the Blue Route, and public transportation. Ownership includes a private storage unit across the hall, assigned parking space #27, and access to a community car-washing area. HOA services include water, trash removal, snow removal, and common-area maintenance. Owner-occupants only; no investors, smoking, pets, or trucks in lower-lot assigned parking.
Key Highlights
- 975‑square‑foot condominium with 2 bedrooms and 2 full bathrooms
- Enclosed sunroom with creek views, French‑door access, and added storage
- Renovated kitchen with quartz countertops and newer stainless steel appliances
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
$9,774
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
3.38%
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%
$195,480
$195.5K
Cap Rate 7%
$139,629
$139.6K
Cap Rate 9%
$108,600
$108.6K
Market Conditions
NOI Build-Up for 975 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
$20.6K $21.12/SF
− Vacancy
−$2.8K −$2.89/SF
EGI
$17.8K $18.23/SF
− OpEx
−$8.0K −$8.20/SF
NOI
$9.8K $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 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%
$195,480
Cap Rate 7%
$139,629
Cap Rate 9%
$108,600
Alternative Uses
Best Use
Apartment 5plus
$139.6K
$122.2K – $162.9K
NOI $9,774 @ 7.0% cap · market cap 3.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$295.6K
$258.7K – $344.9K
NOI $20,693 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,506
Businesses Nearby
Explore this area
Business Placement
Demographics for 19063, PA
38,338
Population
16,128
Households
2.4
Avg Household Size
46
Median Age
60%
College-Educated
97%
High-School Grad
25.1 sq mi
ZIP Area
1,527
Density / Sq Mi
$121,899
Median Household Income
$70,147
Median Earnings
$1,623
Median Rent
$505,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium with a creek-facing enclosed sunroom, renovated kitchen, and private primary bathroom.
Where is this residential income property located?
The property is located at 510 N LEMON STREET #D2 Media, PA.
What is the asking price?
The asking price for this property is $289,500.
What are key features of this property?
This property features: 975‑square‑foot condominium with 2 bedrooms and 2 full bathrooms; Enclosed sunroom with creek views, French‑door access, and added storage; Renovated kitchen with quartz countertops and newer stainless steel appliances
