Two-Bedroom Residential Income
For Sale
$260,000
5204 DELAIRE LANDING ROAD Unit 204, Philadelphia, PA 19114
Second-floor condominium with two full bathrooms, private balcony, in-unit laundry, and access to extensive community amenities.
Property Size1,328 SF
Days on Market18
Property Features for 5204 DELAIRE LANDING ROAD Unit 204
General Information
Standard status
Active
Size
1,328 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,540
Amenities
gated community
private balcony
in-unit laundry
outdoor pools
clubhouse
recreation center
fitness room
tennis courts
picnic areas
playground
scenic areas along the Delaware River
Building Details
Building Size
1,328 SF
Year Built
1972
Listing Agency:
RE/MAX Keystone
(215) 825-3005
Listed By:
Joseph M Allegra · License #RS358585
(215) 825-3005
Source:
Lizclarkrealestate
Added: Aug 14
Changed: Aug 29
Last Checked: Aug 30 at 10:05PM
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 RE/MAX Keystone
Investment Insights
Based on property information with market context.
This second-floor condominium includes 2 bedrooms and 2 full bathrooms within a layout that separates the living areas from the bedrooms. The residence has an open living and dining area, a kitchen with cabinet and counter space, a private balcony, in-unit laundry, a primary suite with an en suite bathroom, and a second bedroom near the hall bathroom. A newer HVAC system and newer water heater add to the property’s existing improvements.
The home is located in the gated Delaire Landing Condominiums, which provides 24-hour gated access along with outdoor pools, a clubhouse, recreation center, fitness room, tennis courts, picnic areas, a playground, and areas along the Delaware River. The monthly condo fee includes cable, water, sewer, lawn care, and snow removal to the front door. The property also offers access to I-95, Center City Philadelphia, New Jersey, Bucks County, public transportation, and nearby shopping.
The home is located in the gated Delaire Landing Condominiums, which provides 24-hour gated access along with outdoor pools, a clubhouse, recreation center, fitness room, tennis courts, picnic areas, a playground, and areas along the Delaware River. The monthly condo fee includes cable, water, sewer, lawn care, and snow removal to the front door. The property also offers access to I-95, Center City Philadelphia, New Jersey, Bucks County, public transportation, and nearby shopping.
Key Highlights
- 2 bedrooms and 2 full bathrooms in a second‑floor condominium
- Private balcony with access from the living area
- In‑unit laundry, newer HVAC system, and newer water heater
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
$20,889
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
8.03%
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%
$417,780
$417.8K
Cap Rate 7%
$298,414
$298.4K
Cap Rate 9%
$232,100
$232.1K
Market Conditions
NOI Build-Up for 1,328 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
$40.3K $30.36/SF
− Vacancy
−$2.3K −$1.76/SF
EGI
$38.0K $28.60/SF
− OpEx
−$17.1K −$12.87/SF
NOI
$20.9K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /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%
$417,780
Cap Rate 7%
$298,414
Cap Rate 9%
$232,100
Alternative Uses
Best Use
Apartment 5plus
$298.4K
$261.1K – $348.2K
NOI $20,889 @ 7.0% cap · market cap 8.03%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$323.7K
$283.3K – $377.7K
NOI $22,662 @ 7.0% cap · market cap 8.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
274
Businesses Nearby
Explore this area
Business Placement
Demographics for 19114, PA
32,645
Population
14,703
Households
2.2
Avg Household Size
43
Median Age
30%
College-Educated
91%
High-School Grad
5.6 sq mi
ZIP Area
5,829
Density / Sq Mi
$76,076
Median Household Income
$48,257
Median Earnings
$1,369
Median Rent
$276,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Second-floor condominium with two full bathrooms, private balcony, in-unit laundry, and access to extensive community amenities.
Where is this residential income property located?
The property is located at 5204 DELAIRE LANDING ROAD Unit 204 Philadelphia, PA.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: 2 bedrooms and 2 full bathrooms in a second‑floor condominium; Private balcony with access from the living area; In‑unit laundry, newer HVAC system, and newer water heater
