Updated Residential Income
For Sale
$310,000
666 W GERMANTOWN PIKE Unit 1618, Plymouth Meeting, PA 19462
Two-bedroom condominium with renovated finishes, in-unit laundry, and controlled community access.
Property Size1,000 SF
Days on Market100
Property Features for 666 W GERMANTOWN PIKE Unit 1618
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/1.5BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,756
Amenities
gated community
security access
intercom system
in-unit washer and dryer
Building Details
Building Size
1,000 SF
Year Built
1974
Listing Agency:
Coldwell Banker Realty
Listed By:
Lydia Hayward · License #RS296246
(215) 740-8515
Source:
Lizclarkrealestate
Added: Jun 13
Changed: Sep 19
Last Checked: Sep 20 at 12:18PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This residential income property is a two-bedroom, 1.5-bath condominium in Plymouth Meeting’s Plymouth Hill community. The home includes updated flooring, upgraded countertops, newer appliances, and a newer sliding glass patio door. The primary bedroom has an updated walk-in closet, while the second bedroom is positioned near the full hall bathroom. An in-unit washer and dryer add everyday convenience, and the popcorn ceiling was professionally removed in 2016.
The gated community provides monitored security access and an intercom system. The monthly association fee includes access to community amenities. Built in 1974, the condominium combines a defined two-bedroom layout with several documented interior improvements.
The gated community provides monitored security access and an intercom system. The monthly association fee includes access to community amenities. Built in 1974, the condominium combines a defined two-bedroom layout with several documented interior improvements.
Key Highlights
- Two‑bedroom, 1.5‑bath condominium
- Updated flooring, countertops, appliances, and sliding patio door
- Primary bedroom includes an updated walk‑in 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
$13,510
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
4.36%
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%
$270,200
$270.2K
Cap Rate 7%
$193,000
$193.0K
Cap Rate 9%
$150,111
$150.1K
Market Conditions
NOI Build-Up for 1,000 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
$26.2K $26.16/SF
− Vacancy
−$1.6K −$1.60/SF
EGI
$24.6K $24.56/SF
− OpEx
−$11.1K −$11.05/SF
NOI
$13.5K $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%
$270,200
Cap Rate 7%
$193,000
Cap Rate 9%
$150,111
Alternative Uses
Best Use
Apartment 5plus
$193.0K
$168.9K – $225.2K
NOI $13,510 @ 7.0% cap · market cap 4.36%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$575.2K
$503.3K – $671.1K
NOI $40,265 @ 7.0% cap · market cap 12.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,510
Businesses Nearby
Explore this area
Business Placement
Demographics for 19462, PA
16,267
Population
6,658
Households
2.4
Avg Household Size
41
Median Age
53%
College-Educated
95%
High-School Grad
8.3 sq mi
ZIP Area
1,960
Density / Sq Mi
$133,942
Median Household Income
$66,598
Median Earnings
$1,771
Median Rent
$452,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium with renovated finishes, in-unit laundry, and controlled community access.
Where is this residential income property located?
The property is located at 666 W GERMANTOWN PIKE Unit 1618 Plymouth Meeting, PA.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Two‑bedroom, 1.5‑bath condominium; Updated flooring, countertops, appliances, and sliding patio door; Primary bedroom includes an updated walk‑in closet
