All-Brick Duplex with
For Sale
$400,000
709 Morgan Ave, Drexel Hill, PA
Two separate residences offer updated kitchens, private laundry areas, garage parking, and additional on-site parking.
Property Size1,648 SF
Price / SF$242.72
Days on Market140
Property Features for 709 Morgan Ave
General Information
Standard status
Active
Size
1,648 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$5,953
Listing Agency:
Springer Realty Group
(484) 947-8764
Listed By:
John P Becker · License #RS294501
(484) 947-8764
Source:
Exprealty
Added: Apr 14
Changed: Aug 30
Last Checked: Aug 31 at 7:43PM
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 Springer Realty Group
Investment Insights
Based on property information with market context.
This two-unit residential property has a solid brick exterior and a practical layout for multifamily ownership. Each residence includes 2 bedrooms, 1 full bath, hardwood floors, updated kitchens with stainless-steel appliances, and dedicated laundry equipment with a washer and dryer. Natural light is present throughout both units.
The property includes two separate garages plus four additional parking spaces. A full basement provides storage and contains the mechanical systems. Located near shopping, dining, and major routes in Drexel Hill, the property supports an owner-occupant arrangement or continued rental use.
The property includes two separate garages plus four additional parking spaces. A full basement provides storage and contains the mechanical systems. Located near shopping, dining, and major routes in Drexel Hill, the property supports an owner-occupant arrangement or continued rental use.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 full bath in each residence
- All‑brick exterior with hardwood flooring and abundant natural light
- Updated kitchens feature stainless‑steel appliances and ample cabinetry
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
$18,063
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
4.52%
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%
$361,260
$361.3K
Cap Rate 7%
$258,043
$258.0K
Cap Rate 9%
$200,700
$200.7K
Market Conditions
NOI Build-Up for 1,648 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
$29.7K $18.00/SF
− Vacancy
−$3.9K −$2.34/SF
EGI
$25.8K $15.66/SF
− OpEx
−$7.7K −$4.70/SF
NOI
$18.1K $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%
$361,260
Cap Rate 7%
$258,043
Cap Rate 9%
$200,700
Alternative Uses
Best Use
Multifamily LT 5
$258.0K
$225.8K – $301.1K
NOI $18,063 @ 7.0% cap · market cap 4.52%
Second Best
Apartment 5plus
$236.0K
$206.5K – $275.4K
NOI $16,521 @ 7.0% cap · market cap 4.13%
Theoretical Best
Office A
$499.7K
$437.2K – $582.9K
NOI $34,976 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,935
Businesses Nearby
Explore this area
Business Placement
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 separate residences offer updated kitchens, private laundry areas, garage parking, and additional on-site parking.
Where is this duplex located?
The property is located at 709 Morgan Ave Drexel Hill, PA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 full bath in each residence; All‑brick exterior with hardwood flooring and abundant natural light; Updated kitchens feature stainless‑steel appliances and ample cabinetry
