Duplex with Three Detached
For Sale
$375,000
618 W LAFAYETTE STREET, Norristown, PA 19401
Two rental units sit on a double lot with driveway parking and separate garage space.
Property Size2,296 SF
Price / SF$163.33
Days on Market18
Property Features for 618 W LAFAYETTE STREET
General Information
Standard status
Active
Size
2,296 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Amenities
driveway parking
detached garages
Building Details
Year Built
1930
Listing Agency:
Real of Pennsylvania
(215) 367-5238
Listed By:
Dylan Bear · License #RS352706
(267) 679-1993
Source:
Cummingsrealtors
Added: Sep 22
Changed: Oct 7
Last Checked: Oct 7 at 12:52PM
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 Real of Pennsylvania
Investment Insights
Based on property information with market context.
This duplex contains two rental units and dates to 1930. The property includes three detached garages, a double lot, and a large driveway for parking. The building measures 2,296 square feet.
Located on W Lafayette Street in Norristown, Pennsylvania, the property offers residential rental space with garage and driveway parking on the same parcel.
Located on W Lafayette Street in Norristown, Pennsylvania, the property offers residential rental space with garage and driveway parking on the same parcel.
Key Highlights
- Two rental units
- 2,296‑square‑foot building, constructed in 1930
- Double lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,361
Cap Rate
8.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$667,220
$667.2K
Cap Rate 7%
$476,586
$476.6K
Cap Rate 9%
$370,678
$370.7K
Market Conditions
NOI Build-Up for 2,296 SF
Gross rent
$51.0K $22.20/SF
− Vacancy
−$3.3K −$1.44/SF
EGI
$47.7K $20.76/SF
− OpEx
−$14.3K −$6.23/SF
NOI
$33.4K $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 Rate 5%
$667,220
Cap Rate 7%
$476,586
Cap Rate 9%
$370,678
Alternative Uses
Best Use
Multifamily LT 5
$476.6K
$417.0K – $556.0K
NOI $33,361 @ 7.0% cap · market cap 8.90%
Second Best
Apartment 5plus
$443.1K
$387.8K – $517.0K
NOI $31,020 @ 7.0% cap · market cap 8.27%
Theoretical Best
Specialty Retail
$1.32M
$1.16M – $1.54M
NOI $92,448 @ 7.0% cap · market cap 24.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,034
Businesses Nearby
Explore this area
Business Placement
Demographics for 19401, PA
43,414
Population
18,236
Households
2.4
Avg Household Size
36
Median Age
28%
College-Educated
86%
High-School Grad
6.2 sq mi
ZIP Area
7,002
Density / Sq Mi
$68,646
Median Household Income
$38,050
Median Earnings
$1,392
Median Rent
$225,700
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two rental units sit on a double lot with driveway parking and separate garage space.
Where is this duplex located?
The property is located at 618 W LAFAYETTE STREET Norristown, PA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two rental units; 2,296‑square‑foot building, constructed in 1930; Double lot
