Three-Story Duplex with
For Sale
$419,900
1506 W PORTER Street, Philadelphia, PA 19145
Multi-Family, PHILADELPHIA, PA
Property Size2,116 SF
Lot Size0.02 Acres
Price / SF$198.44
Days on Market102
Property Features for 1506 W PORTER Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
On Street
Appliances
Washer, Dryer
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
2,116 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
5024
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
indoor common area porch
central air
washer and dryer
Building Details
Year built
1920
Number of units
2
Building materials
Masonry
Architectural style
Other
Listing Agency:
Alpha Realty Group
(215) 463-0777
Listed By:
Grace G DeGregorio · License #RS278275
(215) 460-5147
Added: May 20
Changed: Aug 19
Last Checked: Aug 29 at 3:06AM
MLS# PAPH2622808
Copyright © 2026 Bright MLS. 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.
This 2,116-square-foot masonry duplex, built in 1920, contains two bi-level one-bedroom residences within a three-story layout. The first unit includes a finished basement and rear yard, while the second unit received refurbishment in 2026. Both residences have separate entrances, central air, forced-air heating, and their own washer and dryer. An indoor common porch serves the property, and the roof and front steps have been updated. The property was comprehensively rehabilitated around 2010.
Located at 1506 W PORTER Street in Philadelphia, the duplex is near the Broad Street Line and within walking distance of Passyunk Ave, Marconi Park, and the stadiums. On-street parking is available, and the property is positioned near several named dining and coffee establishments.
Located at 1506 W PORTER Street in Philadelphia, the duplex is near the Broad Street Line and within walking distance of Passyunk Ave, Marconi Park, and the stadiums. On-street parking is available, and the property is positioned near several named dining and coffee establishments.
Key Highlights
- 2,116‑square‑foot duplex on a 0.022‑acre lot
- Two bi‑level 1‑bedroom units with separate entrances and utilities
- First unit includes a full finished basement and rear yard
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
$36,109
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
8.60%
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%
$722,180
$722.2K
Cap Rate 7%
$515,843
$515.8K
Cap Rate 9%
$401,211
$401.2K
Market Conditions
NOI Build-Up for 2,116 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
$54.6K $25.80/SF
− Vacancy
−$3.0K −$1.42/SF
EGI
$51.6K $24.38/SF
− OpEx
−$15.5K −$7.31/SF
NOI
$36.1K $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%
$722,180
Cap Rate 7%
$515,843
Cap Rate 9%
$401,211
Alternative Uses
Best Use
Multifamily LT 5
$515.8K
$451.4K – $601.8K
NOI $36,109 @ 7.0% cap · market cap 8.60%
Second Best
Apartment 5plus
$475.5K
$416.1K – $554.7K
NOI $33,284 @ 7.0% cap · market cap 7.93%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,976
Businesses Nearby
Explore this area
Business Placement
Demographics for 19145, PA
47,079
Population
21,295
Households
2.2
Avg Household Size
38
Median Age
36%
College-Educated
89%
High-School Grad
4.8 sq mi
ZIP Area
9,808
Density / Sq Mi
$70,374
Median Household Income
$45,940
Median Earnings
$1,343
Median Rent
$290,100
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?
Duplex - Two bi-level one-bedroom units offer separate entrances, utilities, and in-unit laundry.
Where is this duplex located?
The property is located at 1506 W PORTER Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $419,900.
What are key features of this property?
This property features: 2,116‑square‑foot duplex on a 0.022‑acre lot; Two bi‑level 1‑bedroom units with separate entrances and utilities; First unit includes a full finished basement and rear yard
