Three-Bedroom Residential Income
For Sale
$259,000
805 NORTHRIDGE DR Unit 108-B, Norristown, PA 19403
Updated condominium residence with a deck, granite kitchen, and in-unit laundry.
Property Size1,021 SF
Days on Market160
Property Features for 805 NORTHRIDGE DR Unit 108-B
General Information
Standard status
Active
Size
1,021 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
3BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,835
Building Details
Building Size
1,021 SF
Year Built
1988
Listing Agency:
BHHS Fox & Roach-Collegeville
Listed By:
Donald Sepety · License #RS175944L
(610) 220-9980
Source:
Lizclarkrealestate
Added: Mar 30
Changed: Aug 30
Last Checked: Sep 5 at 8:28AM
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-Collegeville
Investment Insights
Based on property information with market context.
This second-floor condominium at 805 Northridge Dr, Unit 108-B, includes three bedrooms, a spacious living room, dining area, galley kitchen, full bathroom, laundry closet, and utility closet. The living and dining areas feature luxury vinyl flooring, recessed LED lighting, ceiling fans, crown molding, and chair rail details. Two sets of sliders open to the deck, while the kitchen offers granite countertops, a subway-style backsplash, ceramic tile flooring, extensive cabinetry, a gas range, and stainless-steel appliances. The upper-level bedroom includes a large closet and adjoining unfinished storage space. A first-floor entry area provides additional storage for coats and strollers. Built in 1988, the property received repainting and a new roof in 2025. Shopping, restaurants, and highways are described as nearby.
Key Highlights
- Three‑bedroom unit, including an upper‑level bedroom with a large closet
- New roof completed in 2025
- Repainting completed in 2025
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
$13,794
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
5.33%
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%
$275,880
$275.9K
Cap Rate 7%
$197,057
$197.1K
Cap Rate 9%
$153,267
$153.3K
Market Conditions
NOI Build-Up for 1,021 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
$26.7K $26.16/SF
− Vacancy
−$1.6K −$1.60/SF
EGI
$25.1K $24.56/SF
− OpEx
−$11.3K −$11.05/SF
NOI
$13.8K $13.51/SF
Area
Montgomery County, PA
Vacancy
6.10%
Lease Rate
$26.16 /SF/Yr
Expense Ratio
45.00%
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%
$275,880
Cap Rate 7%
$197,057
Cap Rate 9%
$153,267
Alternative Uses
Best Use
Apartment 5plus
$197.1K
$172.4K – $229.9K
NOI $13,794 @ 7.0% cap · market cap 5.33%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$587.3K
$513.9K – $685.2K
NOI $41,110 @ 7.0% cap · market cap 15.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
249
Businesses Nearby
Explore this area
Business Placement
Demographics for 19403, PA
43,734
Population
19,720
Households
2.2
Avg Household Size
45
Median Age
48%
College-Educated
96%
High-School Grad
22.4 sq mi
ZIP Area
1,952
Density / Sq Mi
$101,996
Median Household Income
$59,809
Median Earnings
$1,640
Median Rent
$355,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condominium residence with a deck, granite kitchen, and in-unit laundry.
Where is this residential income property located?
The property is located at 805 NORTHRIDGE DR Unit 108-B Norristown, PA.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: Three‑bedroom unit, including an upper‑level bedroom with a large closet; New roof completed in 2025; Repainting completed in 2025
