Renovated Residential Income
New
For Sale
$297,000
71 DRUMMERS LANE, Wayne, PA 19087
Ground-floor corner condo with two bedrooms, updated bathrooms, and dedicated laundry facilities on the same level.
Property Size1,004 SF
Days on Market6
Property Features for 71 DRUMMERS LANE
General Information
Standard status
Active
Size
1,004 SF
Property subtype
Penthouse Unit/Flat/Apartment
Additional Details
Highway Access
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,568
Amenities
bike storage
storage area
laundry facilities
on-site management
grounds
Building Details
Building Size
1,004 SF
Year Built
1970
Listing Agency:
BHHS Fox & Roach-Rosemont
Listed By:
Catherine Hamilton · License #RS180370L
(215) 527-2506
Source:
Lizclarkrealestate
Added: Oct 8
Changed: Oct 11
Last Checked: Oct 13 at 12:12AM
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 BHHS Fox & Roach-Rosemont
Investment Insights
Based on property information with market context.
This ground-floor corner condo in Glenhardie Condos has two bedrooms, two full bathrooms, and a living area opening toward a grassy outdoor space. Recent interior work includes fresh paint, luxury vinyl flooring, overhead lighting, carpeting in both bedrooms, and a remodeled kitchen with stone counters, white soft-close cabinetry, and stainless steel appliances. The primary bedroom includes a closet and dressing area. A two-year-old HVAC system is located in the exterior patio closet; the living room sliding door is scheduled for replacement for the new owner. Residents have access to a locked storage area, bike storage, and laundry facilities serving this floor. The property was built in 1970.
The community is near King of Prussia shopping, Valley Forge Park, and highways. On-site professional management and maintained grounds are among the community features. Owners may join Glenhardie Golf Club as social, swimming, tennis, or golf members; planting in the outdoor area requires permission.
The community is near King of Prussia shopping, Valley Forge Park, and highways. On-site professional management and maintained grounds are among the community features. Owners may join Glenhardie Golf Club as social, swimming, tennis, or golf members; planting in the outdoor area requires permission.
Key Highlights
- Ground‑floor corner condo with two bedrooms and two full bathrooms
- Renovated kitchen with stone countertops, white soft‑close cabinets, and stainless steel appliances
- Two‑year‑old HVAC system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,065
Cap Rate
3.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$201,300
$201.3K
Cap Rate 7%
$143,786
$143.8K
Cap Rate 9%
$111,833
$111.8K
Market Conditions
NOI Build-Up for 1,004 SF
Gross rent
$21.2K $21.12/SF
− Vacancy
−$2.9K −$2.89/SF
EGI
$18.3K $18.23/SF
− OpEx
−$8.2K −$8.20/SF
NOI
$10.1K $10.02/SF
Area
Delaware County, PA
Vacancy
13.70%
Lease Rate
$21.12 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$201,300
Cap Rate 7%
$143,786
Cap Rate 9%
$111,833
Alternative Uses
Best Use
Apartment 5plus
$143.8K
$125.8K – $167.8K
NOI $10,065 @ 7.0% cap · market cap 3.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$304.4K
$266.4K – $355.1K
NOI $21,308 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,073
Businesses Nearby
Explore this area
Business Placement
Demographics for 19087, PA
33,501
Population
12,829
Households
2.6
Avg Household Size
40
Median Age
78%
College-Educated
97%
High-School Grad
15.6 sq mi
ZIP Area
2,148
Density / Sq Mi
$165,451
Median Household Income
$71,234
Median Earnings
$2,130
Median Rent
$693,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Ground-floor corner condo with two bedrooms, updated bathrooms, and dedicated laundry facilities on the same level.
Where is this residential income property located?
The property is located at 71 DRUMMERS LANE Wayne, PA.
What is the asking price?
The asking price for this property is $297,000.
What are key features of this property?
This property features: Ground‑floor corner condo with two bedrooms and two full bathrooms; Renovated kitchen with stone countertops, white soft‑close cabinets, and stainless steel appliances; Two‑year‑old HVAC system
