Renovated Triplex with Spacious
For Sale
$499,900
715 STRICKERSVILLE ROAD, Landenberg, PA 19350
Three updated units feature renovated kitchens, refreshed baths, and durable LVP flooring.
Property Size2,175 SF
Price / SF$229.84
Days on Market10
Property Features for 715 STRICKERSVILLE ROAD
General Information
Standard status
Active
Size
2,175 SF
Property subtype
Triplex
Units
Unit Mix
1 x 3BR/1BA, 2 x 2BR/1BA
Multifamily Units
3
Amenities
yard
Building Details
Year Built
1900
Buildings
1
Listing Agency:
RE/MAX Select Group
(215) 335-6900
Listed By:
Simran Kaur Dheer · License #2558322
(302) 513-6849
Source:
Cummingsrealtors
Added: Sep 5
Changed: Sep 14
Last Checked: Sep 14 at 7:41AM
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 RE/MAX Select Group
Investment Insights
Based on property information with market context.
This renovated triplex contains three residential units: one with 3 bedrooms and 1 bathroom, plus two with 2 bedrooms and 1 bathroom each. The property measures 2,175 SF and was built in 1900. Unit improvements include custom cabinetry, stainless steel appliances, new LVP flooring, and remodeled bathrooms with custom tile and updated fixtures. Bedrooms are generously sized, and the layout provides distinct living space across all three units.
The property occupies just under an acre and includes a broad outdoor yard with open space. The combination of a three-unit configuration, extensive interior updates, and a substantial lot creates a clearly defined multifamily asset with renovated residential improvements.
The property occupies just under an acre and includes a broad outdoor yard with open space. The combination of a three-unit configuration, extensive interior updates, and a substantial lot creates a clearly defined multifamily asset with renovated residential improvements.
Key Highlights
- Three‑unit configuration with one 3‑bedroom unit and two 2‑bedroom units
- 2,175 SF triplex built in 1900
- Fully renovated kitchens with custom cabinetry and stainless steel appliances
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
$24,993
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
5.00%
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%
$499,860
$499.9K
Cap Rate 7%
$357,043
$357.0K
Cap Rate 9%
$277,700
$277.7K
Market Conditions
NOI Build-Up for 2,175 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
$41.8K $19.20/SF
− Vacancy
−$6.1K −$2.78/SF
EGI
$35.7K $16.42/SF
− OpEx
−$10.7K −$4.92/SF
NOI
$25.0K $11.49/SF
Area
Chester County, PA
Vacancy
14.50%
Lease Rate
$19.20 /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%
$499,860
Cap Rate 7%
$357,043
Cap Rate 9%
$277,700
Alternative Uses
Best Use
Multifamily LT 5
$357.0K
$312.4K – $416.6K
NOI $24,993 @ 7.0% cap · market cap 5.00%
Second Best
Apartment 5plus
$336.9K
$294.8K – $393.1K
NOI $23,584 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$659.4K
$577.0K – $769.4K
NOI $46,161 @ 7.0% cap · market cap 9.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
Explore this area
Business Placement
Demographics for 19350, PA
11,030
Population
3,992
Households
2.8
Avg Household Size
45
Median Age
60%
College-Educated
97%
High-School Grad
28.0 sq mi
ZIP Area
394
Density / Sq Mi
$152,264
Median Household Income
$73,039
Median Earnings
$1,405
Median Rent
$494,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three updated units feature renovated kitchens, refreshed baths, and durable LVP flooring.
Where is this triplex located?
The property is located at 715 STRICKERSVILLE ROAD Landenberg, PA.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Three‑unit configuration with one 3‑bedroom unit and two 2‑bedroom units; 2,175 SF triplex built in 1900; Fully renovated kitchens with custom cabinetry and stainless steel appliances
