Brick Two-Unit Duplex with
For Sale
$525,000
10602 Cowden Street, Philadelphia, PA 19116
MULTI_FAMILY - Philadelphia, PA
Property Size2,584 SF
Lot Size0.14 Acres
Price / SF$203.17
Days on Market166
Property Features for 10602 Cowden Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
-
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bedroom 4, Bathroom 1, Bedroom 3, Bathroom 2
Parking features
On Street, Off Street
Fencing
Fenced
Basement
Partially Finished
Lot features
Back Yard
Subdivision
Somerton
Standard status
Active
APN
58-2-5992-00
Size
2,584 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
6326
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Electric (Heating)
Amenities
in-unit laundry
stainless steel appliances
dishwashers
unfinished basements
front yard
backyard
detached shed
Building Details
Year built
1960
Floors in Building
3
Number of units
2
Building materials
Brick
Listing Agency:
United National Realty
Listed By:
Igor Baboshkin · License #10401272360
(718) 979-8000
Added: Mar 28
Changed: Aug 2
Last Checked: Sep 9 at 11:06PM
MLS# 2601602
Copyright © 2026 Staten Island Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Brick two-family duplex on a quiet cul-de-sac in Philadelphia’s Somerton/Northeast area, built in 1960. The property contains two spacious units, each with 2 bedrooms and 1 full bath, with updated kitchens including stainless steel appliances and dishwashers. Both apartments also feature in-unit laundry with full-size washers and dryers. Utilities are separate for the units except for water, supporting flexible rental options and easier management.
Renovations were completed between 2019 and 2023, including updated kitchens, bathrooms, appliances, and mechanicals for a move-in-ready setup. Each side includes an unfinished basement for storage and possible future expansion. Outside, there is a front yard with rose bushes and a backyard with fruit trees (apricots and plums), berry bushes, and lush greenery, plus a detached metal shed.
Parking includes a private driveway accommodating 4+ vehicles, along with additional street parking with no restrictions. The home is about 3 blocks from Route 1 (Roosevelt Boulevard) and near a pedestrian path to shopping plazas including ShopRite and Target.
Renovations were completed between 2019 and 2023, including updated kitchens, bathrooms, appliances, and mechanicals for a move-in-ready setup. Each side includes an unfinished basement for storage and possible future expansion. Outside, there is a front yard with rose bushes and a backyard with fruit trees (apricots and plums), berry bushes, and lush greenery, plus a detached metal shed.
Parking includes a private driveway accommodating 4+ vehicles, along with additional street parking with no restrictions. The home is about 3 blocks from Route 1 (Roosevelt Boulevard) and near a pedestrian path to shopping plazas including ShopRite and Target.
Key Highlights
- Two‑family brick duplex on a quiet cul‑de‑sac in Somerton/Northeast Philadelphia
- Each unit has 2 bedrooms and 1 full bath; updated kitchen with stainless steel appliances and dishwasher
- In‑unit laundry for both units with full‑size washers and dryers
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
$44,096
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
8.40%
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%
$881,920
$881.9K
Cap Rate 7%
$629,943
$629.9K
Cap Rate 9%
$489,956
$490.0K
Market Conditions
NOI Build-Up for 2,584 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
$66.7K $25.80/SF
− Vacancy
−$3.7K −$1.42/SF
EGI
$63.0K $24.38/SF
− OpEx
−$18.9K −$7.31/SF
NOI
$44.1K $17.06/SF
Area
Philadelphia, PA
Vacancy
5.51%
Lease Rate
$25.80 /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%
$881,920
Cap Rate 7%
$629,943
Cap Rate 9%
$489,956
Alternative Uses
Best Use
Multifamily LT 5
$629.9K
$551.2K – $734.9K
NOI $44,096 @ 7.0% cap · market cap 8.40%
Second Best
Apartment 5plus
$580.6K
$508.1K – $677.4K
NOI $40,645 @ 7.0% cap · market cap 7.74%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
724
Businesses Nearby
Explore this area
Business Placement
Demographics for 19116, PA
35,610
Population
14,166
Households
2.5
Avg Household Size
43
Median Age
36%
College-Educated
90%
High-School Grad
5.2 sq mi
ZIP Area
6,848
Density / Sq Mi
$67,558
Median Household Income
$43,817
Median Earnings
$1,214
Median Rent
$321,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Renovated brick two-family duplex with two 2-bedroom units, separate utilities (except water), and driveway parking for 4+ vehicles.
Where is this duplex located?
The property is located at 10602 Cowden Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two‑family brick duplex on a quiet cul‑de‑sac in Somerton/Northeast Philadelphia; Each unit has 2 bedrooms and 1 full bath; updated kitchen with stainless steel appliances and dishwasher; In‑unit laundry for both units with full‑size washers and dryers
