Triplex with Private-Entry
For Sale
$535,000
Pending
915 Log College Drive, Warminster, PA 18974
Split-level layout includes a separately accessed suite, fenced outdoor space, and updated kitchen finishes.
Property Size2,508 SF
Days on Market1216
Property Features for 915 Log College Drive
General Information
Standard status
Pending
Size
2,508 SF
Property subtype
Triplex
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,313
Amenities
Central Air, Window Air Conditioning, Electric, Ceiling Fan(s)
3
Wood Floors
R2
Driveway.
Frame
125.00 x 170.00
Building Details
Year Built
1963
Buildings
1
Stories
3
Listing Agency:
Keller Williams Real Estate-Langhorne
(215) 757-6100
Listed By:
Tracy Siler · License #RS278588
(215) 208-6123
Source:
Xome
Added: May 4, 2023
Changed: Aug 30
Last Checked: Aug 30 at 12:55PM
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 Keller Williams Real Estate-Langhorne
Investment Insights
Based on property information with market context.
This 2,508-square-foot triplex property, built in 1963, combines a split-level main residence with a one-level in-law suite accessed through its own front entrance. The primary residence includes hardwood flooring, living and dining areas, three bedrooms, a full hall bathroom, a lower-level family room, laundry room, powder room, and an updated kitchen with gas cooking, granite counters, tile backsplash, and raised-panel cabinetry. The suite provides a living room, eat-in kitchen, bedroom, full bathroom with walk-in shower, and sunroom. Central air, window air conditioning, and ceiling fans are listed among the interior features.
Outdoor improvements include a Trex-style deck, fenced backyard, new vinyl fencing, and a new shed. The property sits on a corner parcel measuring 125.00 x 170.00, includes a driveway, and is identified with R2 zoning. Shopping, dining, and main highways are nearby.
Outdoor improvements include a Trex-style deck, fenced backyard, new vinyl fencing, and a new shed. The property sits on a corner parcel measuring 125.00 x 170.00, includes a driveway, and is identified with R2 zoning. Shopping, dining, and main highways are nearby.
Key Highlights
- 2,508‑square‑foot triplex property built in 1963
- One‑level in‑law suite with private front entrance, bedroom, kitchen, full bath, and sunroom
- Main residence includes 3 bedrooms plus a lower‑level family room
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
$31,053
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
5.80%
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%
$621,060
$621.1K
Cap Rate 7%
$443,614
$443.6K
Cap Rate 9%
$345,033
$345.0K
Market Conditions
NOI Build-Up for 2,508 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
$58.4K $23.28/SF
− Vacancy
−$1.9K −$0.77/SF
EGI
$56.5K $22.51/SF
− OpEx
−$25.4K −$10.13/SF
NOI
$31.1K $12.38/SF
Area
Bucks County, PA
Vacancy
3.30%
Lease Rate
$23.28 /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%
$621,060
Cap Rate 7%
$443,614
Cap Rate 9%
$345,033
Alternative Uses
Best Use
Apartment 5plus
$443.6K
$388.2K – $517.6K
NOI $31,053 @ 7.0% cap · market cap 5.80%
Second Best
Multifamily LT 5
$425.1K
$372.0K – $496.0K
NOI $29,758 @ 7.0% cap · market cap 5.56%
Theoretical Best
Office A
$760.4K
$665.4K – $887.1K
NOI $53,228 @ 7.0% cap · market cap 9.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
104
Businesses Nearby
Explore this area
Business Placement
Demographics for 18974, PA
42,507
Population
17,970
Households
2.4
Avg Household Size
47
Median Age
39%
College-Educated
95%
High-School Grad
19.7 sq mi
ZIP Area
2,158
Density / Sq Mi
$99,724
Median Household Income
$57,726
Median Earnings
$1,634
Median Rent
$407,300
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?
Triplex - Split-level layout includes a separately accessed suite, fenced outdoor space, and updated kitchen finishes.
Where is this triplex located?
The property is located at 915 Log College Drive Warminster, PA.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: 2,508‑square‑foot triplex property built in 1963; One‑level in‑law suite with private front entrance, bedroom, kitchen, full bath, and sunroom; Main residence includes 3 bedrooms plus a lower‑level family room
