Second-Floor Residential Income
New
For Sale
$265,000
9945 NORWALK ROAD Unit 4C, Philadelphia, PA 19115
Second-floor residential unit with updated HVAC and water-heating systems in Northeast Philadelphia.
Property Size1,200 SF
Days on Market6
Property Features for 9945 NORWALK ROAD Unit 4C
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,939
Building Details
Building Size
1,200 SF
Year Built
1980
Listing Agency:
EXP Realty, LLC
Listed By:
Megan E Woodington · License #RS333185
(267) 391-6652
Source:
Lizclarkrealestate
Added: Sep 11
Changed: Sep 13
Last Checked: Sep 15 at 8:40AM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This second-floor residential unit was built in 1980 and offers a flexible interior for daily living and entertaining. Recent system improvements include a new HVAC system installed in 2026 and a water heater installed in 2024. The layout provides a foundation for an owner or occupant to personalize the space over time.
The property is located in Northeast Philadelphia near shopping, dining, SEPTA transportation, and major roadways. Its placement within the established Regency One community provides access to a range of nearby services and transportation options while retaining a residential setting.
The property is located in Northeast Philadelphia near shopping, dining, SEPTA transportation, and major roadways. Its placement within the established Regency One community provides access to a range of nearby services and transportation options while retaining a residential setting.
Key Highlights
- Second‑floor unit in the Regency One community
- New HVAC system installed in 2026
- Water heater installed in 2024
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
$18,875
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
7.12%
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%
$377,500
$377.5K
Cap Rate 7%
$269,643
$269.6K
Cap Rate 9%
$209,722
$209.7K
Market Conditions
NOI Build-Up for 1,200 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
$36.4K $30.36/SF
− Vacancy
−$2.1K −$1.76/SF
EGI
$34.3K $28.60/SF
− OpEx
−$15.4K −$12.87/SF
NOI
$18.9K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /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%
$377,500
Cap Rate 7%
$269,643
Cap Rate 9%
$209,722
Alternative Uses
Best Use
Apartment 5plus
$269.6K
$235.9K – $314.6K
NOI $18,875 @ 7.0% cap · market cap 7.12%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$292.5K
$256.0K – $341.3K
NOI $20,478 @ 7.0% cap · market cap 7.73%
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
922
Businesses Nearby
Explore this area
Business Placement
Demographics for 19115, PA
35,919
Population
15,071
Households
2.4
Avg Household Size
44
Median Age
37%
College-Educated
92%
High-School Grad
5.2 sq mi
ZIP Area
6,908
Density / Sq Mi
$70,388
Median Household Income
$48,949
Median Earnings
$1,230
Median Rent
$330,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Second-floor residential unit with updated HVAC and water-heating systems in Northeast Philadelphia.
Where is this residential income property located?
The property is located at 9945 NORWALK ROAD Unit 4C Philadelphia, PA.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Second‑floor unit in the Regency One community; New HVAC system installed in 2026; Water heater installed in 2024
