Penthouse Residential Income
For Sale
$399,900
516 CARSON TERRACE, Huntingdon Valley, PA 19006
Maintenance-free condominium with open living areas, a private balcony, and extensive building amenities.
Property Size1,592 SF
Days on Market211
Property Features for 516 CARSON TERRACE
General Information
Standard status
Active
Size
1,592 SF
Total Parking Spaces
2
Property subtype
Penthouse Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$7,470
Amenities
24-hour lobby attendant
indoor pool
community room
24-hour fitness center
covered parking garage
private balcony
laundry
Building Details
Building Size
1,592 SF
Year Built
2008
Listing Agency:
Elite Realty Group Unl. Inc.
Listed By:
Joseph B Bograd · License #AB066484
(267) 246-9729
Source:
Lizclarkrealestate
Added: Feb 5
Changed: Aug 29
Last Checked: Sep 4 at 1:06PM
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 Elite Realty Group Unl. Inc.
Investment Insights
Based on property information with market context.
This penthouse condominium combines an open main living level with practical separation between private and shared spaces. The kitchen includes tall cabinetry, stainless steel appliances, granite countertops, and a breakfast bar, while porcelain flooring extends through the foyer. Glass doors connect the living and dining area to a private balcony. Two bedrooms and their full bathrooms are positioned on the first floor, including a primary suite with a double-sink vanity, stand-up shower, and soaking tub. An elevated loft overlooks the living room and can serve as an office or additional bedroom.
Huntingdon Place provides a 24-hour lobby attendant, indoor pool, community room, 24-hour fitness center, and covered parking garage. The property includes two deeded parking spots, and the association fee covers water and sewer. Built in 2008, the condominium offers a combination of private outdoor space, flexible interior layout, and on-site shared amenities.
Huntingdon Place provides a 24-hour lobby attendant, indoor pool, community room, 24-hour fitness center, and covered parking garage. The property includes two deeded parking spots, and the association fee covers water and sewer. Built in 2008, the condominium offers a combination of private outdoor space, flexible interior layout, and on-site shared amenities.
Key Highlights
- Penthouse condo with open kitchen, dining, and living areas
- Two bedrooms, each with access to a full bathroom
- Loft area overlooking the living 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
$21,508
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
5.38%
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%
$430,160
$430.2K
Cap Rate 7%
$307,257
$307.3K
Cap Rate 9%
$238,978
$239.0K
Market Conditions
NOI Build-Up for 1,592 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
$41.6K $26.16/SF
− Vacancy
−$2.5K −$1.60/SF
EGI
$39.1K $24.56/SF
− OpEx
−$17.6K −$11.05/SF
NOI
$21.5K $13.51/SF
Area
Montgomery County, PA
Vacancy
6.10%
Lease Rate
$26.16 /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%
$430,160
Cap Rate 7%
$307,257
Cap Rate 9%
$238,978
Alternative Uses
Best Use
Apartment 5plus
$307.3K
$268.9K – $358.5K
NOI $21,508 @ 7.0% cap · market cap 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$915.7K
$801.3K – $1.07M
NOI $64,101 @ 7.0% cap · market cap 16.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
673
Businesses Nearby
Explore this area
Business Placement
Demographics for 19006, PA
23,148
Population
8,691
Households
2.7
Avg Household Size
45
Median Age
54%
College-Educated
96%
High-School Grad
13.3 sq mi
ZIP Area
1,740
Density / Sq Mi
$124,302
Median Household Income
$60,236
Median Earnings
$1,430
Median Rent
$518,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Maintenance-free condominium with open living areas, a private balcony, and extensive building amenities.
Where is this residential income property located?
The property is located at 516 CARSON TERRACE Huntingdon Valley, PA.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Penthouse condo with open kitchen, dining, and living areas; Two bedrooms, each with access to a full bathroom; Loft area overlooking the living room
