Updated Townhouse Income
New
For Sale
$249,999
623 STONY WAY Unit 623, East Norriton, PA 19403
Multi-level residence with renovated kitchen features, covered outdoor space, and association-managed exterior maintenance.
Property Size1,404 SF
Days on Market4
Property Features for 623 STONY WAY Unit 623
General Information
Standard status
Active
Size
1,404 SF
Property subtype
Unit/Flat/Apartment
Property Condition
Severity
Repairs Needed
Evidence
All This Townhouse Needs is Carpets in two Bedrooms & the Staircases and a Fresh Coat of Paint
Additional Details
Utilities to Site
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,371
Amenities
pool
covered balcony
front balcony
ceiling fan
walk-in shower/jetted tub
laundry area
Building Details
Building Size
1,404 SF
Year Built
1971
Listing Agency:
CARDANO Realtors
Listed By:
Diane R Cardano-Casacio · License #RM426367
(215) 669-6285
Source:
Lizclarkrealestate
Added: Sep 4
Changed: Sep 6
Last Checked: Sep 6 at 2:30PM
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 CARDANO Realtors
Investment Insights
Based on property information with market context.
Built in 1971, this multi-level townhouse includes a foyer, coat closet, living and dining area, kitchen, three bedrooms, two full bathrooms, and an upstairs laundry area. Recent improvements include kitchen cabinetry, countertops, tiled backsplash, lighting, luxury vinyl flooring, select carpeting, and bathroom updates. The primary bedroom offers two large closets, a ceiling fan, and a bathroom with a walk-in shower, jetted tub, tiled surfaces, and oversized vanity. A covered balcony and front balcony extend the living space.
The home is positioned across from the community pool in East Norriton, Pennsylvania, with landscaped grounds, on-site parking, and a low-traffic setting. The HOA covers exterior maintenance, snow removal, lawn care, trash removal, sewer, and pool service. Electric, water, and contents insurance remain the owner’s responsibility.
The home is positioned across from the community pool in East Norriton, Pennsylvania, with landscaped grounds, on-site parking, and a low-traffic setting. The HOA covers exterior maintenance, snow removal, lawn care, trash removal, sewer, and pool service. Electric, water, and contents insurance remain the owner’s responsibility.
Key Highlights
- Three‑bedroom townhouse built in 1971
- Updated kitchen with new cabinets, countertops, backsplash, lighting, and luxury vinyl flooring
- Primary suite includes two large closets and a bathroom with walk‑in shower and jetted tub
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
$18,969
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
7.59%
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%
$379,380
$379.4K
Cap Rate 7%
$270,986
$271.0K
Cap Rate 9%
$210,767
$210.8K
Market Conditions
NOI Build-Up for 1,404 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
$36.7K $26.16/SF
− Vacancy
−$2.2K −$1.60/SF
EGI
$34.5K $24.56/SF
− OpEx
−$15.5K −$11.05/SF
NOI
$19.0K $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%
$379,380
Cap Rate 7%
$270,986
Cap Rate 9%
$210,767
Alternative Uses
Best Use
Apartment 5plus
$271.0K
$237.1K – $316.2K
NOI $18,969 @ 7.0% cap · market cap 7.59%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$807.6K
$706.7K – $942.2K
NOI $56,532 @ 7.0% cap · market cap 22.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
272
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 - Multi-level residence with renovated kitchen features, covered outdoor space, and association-managed exterior maintenance.
Where is this residential income property located?
The property is located at 623 STONY WAY Unit 623 East Norriton, PA.
What is the asking price?
The asking price for this property is $249,999.
What are key features of this property?
This property features: Three‑bedroom townhouse built in 1971; Updated kitchen with new cabinets, countertops, backsplash, lighting, and luxury vinyl flooring; Primary suite includes two large closets and a bathroom with walk‑in shower and jetted tub
