Top-Floor Residential Income
For Sale
$259,900
Pending
6403 DELAIRE LANDING ROAD Unit 403, Philadelphia, PA 19114
Two-bedroom condominium with a private balcony, elevator access, and extensive community amenities.
Property Size1,295 SF
Days on Market12
Property Features for 6403 DELAIRE LANDING ROAD Unit 403
General Information
Standard status
Pending
Size
1,295 SF
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,542
Amenities
gym
clubhouse
tennis courts
outdoor pools
trash disposal
mail delivery
observation deck
24 hr gate security
landscaping
snow removal
private balcony
Building Details
Building Size
1,295 SF
Year Built
1972
Listing Agency:
Realty Mark Associates
Listed By:
Fida U Ahmad · License #RS281105
(215) 498-3437
Source:
Lizclarkrealestate
Added: Aug 24
Changed: Sep 2
Last Checked: Sep 4 at 12:58PM
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 Realty Mark Associates
Investment Insights
Based on property information with market context.
This two-bedroom, two-bath condominium occupies the top floor of the community’s elevator-served midrise building. The interior includes a kitchen with substantial cabinet and counter space, a dining area, a living room opening to a private balcony, and a full-size laundry closet. The primary bedroom offers both walk-in and double closets, while the second bedroom has a large double closet. Additional features include hallway storage, a stall shower in the hall bath, and a tub-shower combination in the primary bath.
Community amenities and services include a gym, clubhouse, tennis courts, two outdoor pools, an observation deck with Delaware River views, interior mail delivery, trash removal, snow removal, landscaping, and 24-hour gate security. The condominium fee also covers hot and cold water and Xfinity Digital Preferred Service for two boxes. The property was built in 1972 and is located near I-95.
Community amenities and services include a gym, clubhouse, tennis courts, two outdoor pools, an observation deck with Delaware River views, interior mail delivery, trash removal, snow removal, landscaping, and 24-hour gate security. The condominium fee also covers hot and cold water and Xfinity Digital Preferred Service for two boxes. The property was built in 1972 and is located near I-95.
Key Highlights
- Top‑floor residence in the community’s sole elevator‑served building
- Two bedrooms and two full baths with multiple bedroom closets
- Private balcony with an attached storage closet
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
$20,370
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
7.84%
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%
$407,400
$407.4K
Cap Rate 7%
$291,000
$291.0K
Cap Rate 9%
$226,333
$226.3K
Market Conditions
NOI Build-Up for 1,295 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
$39.3K $30.36/SF
− Vacancy
−$2.3K −$1.76/SF
EGI
$37.0K $28.60/SF
− OpEx
−$16.7K −$12.87/SF
NOI
$20.4K $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%
$407,400
Cap Rate 7%
$291,000
Cap Rate 9%
$226,333
Alternative Uses
Best Use
Apartment 5plus
$291.0K
$254.6K – $339.5K
NOI $20,370 @ 7.0% cap · market cap 7.84%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$315.7K
$276.2K – $368.3K
NOI $22,099 @ 7.0% cap · market cap 8.50%
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 - Two-bedroom condominium with a private balcony, elevator access, and extensive community amenities.
Where is this residential income property located?
The property is located at 6403 DELAIRE LANDING ROAD Unit 403 Philadelphia, PA.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: Top‑floor residence in the community’s sole elevator‑served building; Two bedrooms and two full baths with multiple bedroom closets; Private balcony with an attached storage closet
