Two-Unit Duplex with Detached
New
For Sale
$375,000
618 W LAFAYETTE Street, Norristown, PA 19401
Multi-Family, NORRISTOWN, PA
Property Size2,296 SF
Lot Size0.27 Acres
Price / SF$163.33
Days on Market2
Property Features for 618 W LAFAYETTE Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking
9
Parking features
Garage - Detached, Driveway
Subdivision
NORRISTOWN
Elementary school district
NORRISTOWN AREA
Middle school district
NORRISTOWN AREA
High school district
NORRISTOWN AREA
Standard status
Active
Size
2,296 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Annual Amount
4225
Utilities
Heating system
Central
Building Details
Year built
1930
Number of units
2
Building materials
Brick
Listing Agency:
Real of Pennsylvania
(215) 367-5238
Listed By:
Dylan Bear · License #RS352706
(267) 679-1993
Added: Sep 22
Last Checked: Sep 23 at 7:06AM
MLS# PAMC2195136
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,296-square-foot duplex contains two rental units within a brick building constructed in 1930. The property includes a basement, central heating, driveway parking, and three detached garages, offering multiple on-site parking and storage improvements.
The property occupies a 0.2713-acre double lot at 618 W Lafayette Street in Norristown, Pennsylvania. Its existing two-unit configuration and detached garage arrangement provide a defined residential income property setup with substantial supporting improvements.
The property occupies a 0.2713-acre double lot at 618 W Lafayette Street in Norristown, Pennsylvania. Its existing two-unit configuration and detached garage arrangement provide a defined residential income property setup with substantial supporting improvements.
Key Highlights
- Two rental units in a duplex configuration
- 2,296 square feet of building area
- 0.2713‑acre double lot
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
$33,361
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
8.90%
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%
$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
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
$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 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%
$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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Open Analytics
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
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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 - Brick income property with driveway parking, central heating, and three detached garages.
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 in a duplex configuration; 2,296 square feet of building area; 0.2713‑acre double lot
