Tenant-Occupied Duplex with
For Sale
$385,000
Pending
646 COUNTRY LANE, Morton, PA 19070
Two updated units include private balconies and shared storage space.
Property Size2,112 SF
Days on Market8
Property Features for 646 COUNTRY LANE
General Information
Standard status
Pending
Size
2,112 SF
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
shared basement
attached garage
private balcony
Building Details
Year Built
1980
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Keller Williams Real Estate - Media
(610) 585-5557
Listed By:
Matthew Curry · License #RS331031
(610) 585-5557
Source:
Cummingsrealtors
Added: Aug 25
Changed: Aug 31
Last Checked: Aug 31 at 2:13PM
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 Keller Williams Real Estate - Media
Investment Insights
Based on property information with market context.
This 2,112-square-foot duplex, built in 1980, contains two tenant-occupied residences with matching two-bedroom, 1.5-bath layouts. The first-floor unit includes a living room, renovated kitchen with dining area, full hall bath, two bedrooms, and a primary bedroom with a half bath and balcony access. The second-floor residence offers a comparable arrangement with an updated kitchen, dining area, full bath, two bedrooms, a primary half bath, and its own balcony.
A shared basement provides storage and utility space, while the attached garage offers off-street parking and additional storage. The property is located within the Springfield School District section of Morton Borough, near public transportation, the train station, shopping, restaurants, and everyday amenities. Both units are occupied, providing an established rental history for an income-producing residential asset.
A shared basement provides storage and utility space, while the attached garage offers off-street parking and additional storage. The property is located within the Springfield School District section of Morton Borough, near public transportation, the train station, shopping, restaurants, and everyday amenities. Both units are occupied, providing an established rental history for an income-producing residential asset.
Key Highlights
- Two tenant‑occupied units, each with 2 bedrooms and 1.5 baths
- 2,112 SF duplex built in 1980
- Private balcony access from each primary bedroom
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
$23,149
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
6.01%
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%
$462,980
$463.0K
Cap Rate 7%
$330,700
$330.7K
Cap Rate 9%
$257,211
$257.2K
Market Conditions
NOI Build-Up for 2,112 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
$38.0K $18.00/SF
− Vacancy
−$4.9K −$2.34/SF
EGI
$33.1K $15.66/SF
− OpEx
−$9.9K −$4.70/SF
NOI
$23.1K $10.96/SF
Area
Delaware County, PA
Vacancy
13.01%
Lease Rate
$18.00 /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%
$462,980
Cap Rate 7%
$330,700
Cap Rate 9%
$257,211
Alternative Uses
Best Use
Multifamily LT 5
$330.7K
$289.4K – $385.8K
NOI $23,149 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$302.5K
$264.7K – $352.9K
NOI $21,172 @ 7.0% cap · market cap 5.50%
Theoretical Best
Office A
$640.3K
$560.3K – $747.1K
NOI $44,824 @ 7.0% cap · market cap 11.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
804
Businesses Nearby
Explore this area
Business Placement
Demographics for 19070, PA
7,306
Population
2,707
Households
2.7
Avg Household Size
42
Median Age
36%
College-Educated
93%
High-School Grad
1.1 sq mi
ZIP Area
6,642
Density / Sq Mi
$81,375
Median Household Income
$53,434
Median Earnings
$1,300
Median Rent
$283,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two updated units include private balconies and shared storage space.
Where is this duplex located?
The property is located at 646 COUNTRY LANE Morton, PA.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Two tenant‑occupied units, each with 2 bedrooms and 1.5 baths; 2,112 SF duplex built in 1980; Private balcony access from each primary bedroom
