Building Details

Building Size 1,753 SF

Year Built 1928

Listing Agency: Keller Williams Real Estate Tri-County

Listed By: Frank Blumenthal · License #RS290719 Show Phone

Source: Desantis-realestate

Added: May 21 Changed: Oct 27 Last Checked: Oct 27 at 3:21AM

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Investment Insights

Based on property information with market context.

This 1,753-square-foot condominium has three bedrooms and two bathrooms. Hardwood flooring with inlaid details runs throughout, alongside a renovated kitchen and bathrooms, newer lighting, and updated hardware. The building dates to 1928. The unit also includes generous closet space, a dedicated storage locker, and one parking space.

SEPTA Regional Rail is a short walk away, with dining, shopping, and other neighborhood conveniences nearby. The rail connection provides access to Center City Philadelphia and the airport.

Key Highlights

• 1,753‑square‑foot condominium with 3 bedrooms and 2 bathrooms
• Hardwood flooring with inlaid details throughout
• Renovated kitchen and bathrooms, plus newer lighting and updated hardware

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$23,684

Cap Rate

8.34%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$473,680 $473.7K

Cap Rate 7%

$338,343 $338.3K

Cap Rate 9%

$263,156 $263.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,753 SF

Gross rent

$45.9K $26.16/SF

− Vacancy

−$2.8K −$1.60/SF

EGI

$43.1K $24.56/SF

− OpEx

−$19.4K −$11.05/SF

NOI

$23.7K $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 Rate 5%

$473,680

Cap Rate 7%

$338,343

Cap Rate 9%

$263,156

Alternative Uses

Best Use

Apartment 5plus

$338.3K

$296.1K – $394.7K (±1% cap)

NOI $23,684 @ 7.0% cap · market cap 8.34%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$1.01M

$882.3K – $1.18M (±1% cap)

NOI $70,584 @ 7.0% cap · market cap 24.86%

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

Property Analytics

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Open Analytics

Lease Details

1

Residential units

Location Intelligence

Trade Area within ½ mile

872

Businesses Nearby

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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

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Frequently Asked Questions

What type of property is this?

Residential income property - Renovated kitchen and bathrooms complement hardwood floors with decorative inlays.

Where is this residential income property located?

The property is located at 900 VALLEY ROAD Unit A202 Melrose Park, PA.

What is the asking price?

The asking price for this property is $283,900.

What are key features of this property?

This property features: 1,753‑square‑foot condominium with 3 bedrooms and 2 bathrooms; Hardwood flooring with inlaid details throughout; Renovated kitchen and bathrooms, plus newer lighting and updated hardware