Two-Unit Duplex with
For Sale
$365,000
7208 Chestnut Ave, Elkins Park, PA 19027
Twin duplex with two-bedroom units, unfinished basement space, and access to shopping, transit, and major roadways.
Property Size1,808 SF
Price / SF$201.88
Days on Market171
Property Features for 7208 Chestnut Ave
General Information
Standard status
Active
Size
1,808 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
Elfant Wissahickon-Mt Airy
(215) 242-4050
Listed By:
Mary Jo Potts · License #RS178972L
Source:
Kathywolfgang
Added: Mar 13
Changed: Aug 29
Last Checked: Aug 30 at 8:39PM
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 Elfant Wissahickon-Mt Airy
Investment Insights
Based on property information with market context.
This two-unit duplex contains 1,808 square feet and was built in 1900. Each residence features two bedrooms, a living room, a kitchen, and a full three-piece bathroom. The property also includes a full unfinished basement, offering below-grade storage or additional unfinished space. On-street parking is available, and the property is zoned RES.
The duplex is located at 7208 Chestnut Avenue in Elkins Park, within Montgomery County’s Cheltenham Township. Local shopping, public transit, and major roadways are nearby, providing access to everyday services and commuting routes. The property is served by the Cheltenham School District.
The duplex is located at 7208 Chestnut Avenue in Elkins Park, within Montgomery County’s Cheltenham Township. Local shopping, public transit, and major roadways are nearby, providing access to everyday services and commuting routes. The property is served by the Cheltenham School District.
Key Highlights
- Two‑unit duplex with 1,808 square feet
- Each unit includes 2 bedrooms and a full 3‑piece bathroom
- Full unfinished basement provides below‑grade space
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
$26,270
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
7.20%
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%
$525,400
$525.4K
Cap Rate 7%
$375,286
$375.3K
Cap Rate 9%
$291,889
$291.9K
Market Conditions
NOI Build-Up for 1,808 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
$40.1K $22.20/SF
− Vacancy
−$2.6K −$1.44/SF
EGI
$37.5K $20.76/SF
− OpEx
−$11.3K −$6.23/SF
NOI
$26.3K $14.53/SF
Area
Montgomery County, PA
Vacancy
6.50%
Lease Rate
$22.20 /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%
$525,400
Cap Rate 7%
$375,286
Cap Rate 9%
$291,889
Alternative Uses
Best Use
Multifamily LT 5
$375.3K
$328.4K – $437.8K
NOI $26,270 @ 7.0% cap · market cap 7.20%
Second Best
Apartment 5plus
$349.0K
$305.3K – $407.1K
NOI $24,427 @ 7.0% cap · market cap 6.69%
Theoretical Best
Specialty Retail
$1.04M
$910.0K – $1.21M
NOI $72,799 @ 7.0% cap · market cap 19.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
712
Businesses Nearby
Explore this area
Business Placement
Demographics for 19027, PA
19,170
Population
8,550
Households
2.2
Avg Household Size
43
Median Age
56%
College-Educated
97%
High-School Grad
3.9 sq mi
ZIP Area
4,915
Density / Sq Mi
$105,190
Median Household Income
$52,970
Median Earnings
$1,439
Median Rent
$348,700
Median Home Value
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 - Twin duplex with two-bedroom units, unfinished basement space, and access to shopping, transit, and major roadways.
Where is this duplex located?
The property is located at 7208 Chestnut Ave Elkins Park, PA.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,808 square feet; Each unit includes 2 bedrooms and a full 3‑piece bathroom; Full unfinished basement provides below‑grade space
