Updated Elevator Residential Income
For Sale
$279,900
613 BRANDON ROAD, Norristown, PA 19403
Updated low-maintenance residence with a private covered balcony, natural gas heat, and access to community amenities.
Property Size1,209 SF
Price / SF$231.51
Days on Market138
Property Features for 613 BRANDON ROAD
General Information
Standard status
Active
Size
1,209 SF
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Additional Details
HOA Fee
$315
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,437
Amenities
indoor pool
fitness center
library
clubhouse
meeting room
locked private storage
laundry room
private covered balcony
Building Details
Building Size
1,209 SF
Year Built
2003
Listing Agency:
RE/MAX Main Line-West Chester
(484) 716-3570
Listed By:
Steven C Mashura · License #AB051721L
(484) 716-3570
Source:
Lizclarkrealestate
Added: Apr 15
Changed: Aug 30
Last Checked: Aug 30 at 12:13AM
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 Main Line-West Chester
Investment Insights
Based on property information with market context.
This updated residential income property is a 2-bedroom, 2-bath condominium with 1,209 square feet of living area in an elevator building, positioned one floor above ground level. The interior includes a remodeled kitchen with additional cabinetry, granite countertops, and seating, along with newer flooring, a replaced HVAC system, natural gas heat, a separate laundry room, and substantial closet storage. The primary suite offers a full bath and walk-in closet, while the second bedroom and hall bath provide additional flexibility. A private covered balcony extends from the light-filled living and dining areas, and the building provides a locked private storage area.
The Greens at Westover is a 55+ community in Montgomery County near Westover Golf Course. Community amenities include an indoor pool, fitness center, library, clubhouse, and meeting room. The association fee covers exterior maintenance, water, sewer, trash, lawn care, and snow removal. The property is near King of Prussia, Valley Forge Park, the Schuylkill walking trails, shopping, and dining.
The Greens at Westover is a 55+ community in Montgomery County near Westover Golf Course. Community amenities include an indoor pool, fitness center, library, clubhouse, and meeting room. The association fee covers exterior maintenance, water, sewer, trash, lawn care, and snow removal. The property is near King of Prussia, Valley Forge Park, the Schuylkill walking trails, shopping, and dining.
Key Highlights
- 2‑bedroom, 2‑bath condominium with 1,209 square feet
- Built in 2003 within a 55+ community
- Elevator building with residence one floor above ground level
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
$16,334
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
5.84%
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%
$326,680
$326.7K
Cap Rate 7%
$233,343
$233.3K
Cap Rate 9%
$181,489
$181.5K
Market Conditions
NOI Build-Up for 1,209 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
$31.6K $26.16/SF
− Vacancy
−$1.9K −$1.60/SF
EGI
$29.7K $24.56/SF
− OpEx
−$13.4K −$11.05/SF
NOI
$16.3K $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%
$326,680
Cap Rate 7%
$233,343
Cap Rate 9%
$181,489
Alternative Uses
Best Use
Apartment 5plus
$233.3K
$204.2K – $272.2K
NOI $16,334 @ 7.0% cap · market cap 5.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$695.4K
$608.5K – $811.3K
NOI $48,680 @ 7.0% cap · market cap 17.39%
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
166
Businesses Nearby
Explore this area
Business Placement
Demographics for 19403, PA
43,734
Population
19,720
Households
2.2
Avg Household Size
45
Median Age
48%
College-Educated
96%
High-School Grad
22.4 sq mi
ZIP Area
1,952
Density / Sq Mi
$101,996
Median Household Income
$59,809
Median Earnings
$1,640
Median Rent
$355,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated low-maintenance residence with a private covered balcony, natural gas heat, and access to community amenities.
Where is this residential income property located?
The property is located at 613 BRANDON ROAD Norristown, PA.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: 2‑bedroom, 2‑bath condominium with 1,209 square feet; Built in 2003 within a 55+ community; Elevator building with residence one floor above ground level
