Building Details

Building Size 1,260 SF

Year Built 1985

Listing Agency: RE/MAX Main Line - Devon

Listed By: John Collins · License #RS184736L Show Phone

Source: Desantis-realestate

Added: Oct 15 Changed: Oct 27 Last Checked: Oct 27 at 4:25AM

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Investment Insights

Based on property information with market context.

At 720 Washington Place, this second-floor residence offers 1,260 square feet with two bedrooms and a loft reached by a full staircase. The main living and dining area has vaulted ceilings, skylights, and a brick fireplace with an electric insert. A private deck extends the living area outdoors. The kitchen includes granite counters, upgraded cabinetry, and a peninsula. The primary bedroom has a walk-in closet with custom built-ins and an updated en-suite bath; a second bedroom sits across the residence. A hall bath and a laundry room with storage complete the layout. Built in 1985, the home also has a private entrance.

The property is in Chesterbrook, near Wilson Farm Park, Chesterbrook Shopping Center, Valley Forge National Historical Park, and King of Prussia Town Center. Shopping, restaurants, trails, and train stations in the Main Line area are also identified nearby.

Key Highlights

• 1,260‑square‑foot second‑floor residence with two bedrooms and an upper‑level loft
• Private entrance and deck
• Vaulted main living area with skylights and a brick fireplace fitted with an electric insert

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$12,631

Cap Rate

3.67%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$252,620 $252.6K

Cap Rate 7%

$180,443 $180.4K

Cap Rate 9%

$140,344 $140.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,260 SF

Gross rent

$26.6K $21.12/SF

− Vacancy

−$3.6K −$2.89/SF

EGI

$23.0K $18.23/SF

− OpEx

−$10.3K −$8.20/SF

NOI

$12.6K $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%

$252,620

Cap Rate 7%

$180,443

Cap Rate 9%

$140,344

Alternative Uses

Best Use

Apartment 5plus

$180.4K

$157.9K – $210.5K (±1% cap)

NOI $12,631 @ 7.0% cap · market cap 3.67%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$382.0K

$334.3K – $445.7K (±1% cap)

NOI $26,741 @ 7.0% cap · market cap 7.76%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

1

Residential units

Location Intelligence

Trade Area within ½ mile

113

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 - A two-bedroom residence pairs a private deck with a separate upper-level loft for additional flexible space.

Where is this residential income property located?

The property is located at 720 WASHINGTON PLACE Chesterbrook, PA.

What is the asking price?

The asking price for this property is $344,500.

What are key features of this property?

This property features: 1,260‑square‑foot second‑floor residence with two bedrooms and an upper‑level loft; Private entrance and deck; Vaulted main living area with skylights and a brick fireplace fitted with an electric insert