Duplex With Private
New
For Sale
$519,900
1805 N 18TH Street, Philadelphia, PA 19121
Multi-Family, PHILADELPHIA, PA
Property Size2,640 SF
Lot Size0.04 Acres
Price / SF$196.93
Days on Market2
Property Features for 1805 N 18TH Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
2
Parking features
Driveway
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
2,640 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
6093
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
hardwood floors
private rear patio
Building Details
Year built
2011
Number of units
2
Building materials
Masonry
Architectural style
Contemporary
Listing Agency:
Keller Williams Real Estate-Blue Bell · Keller Williams Realty
(215) 646-2900
Listed By:
Paurav Patel · License #RS380922
(848) 333-6709
Added: Aug 22
Last Checked: Aug 23 at 3:06PM
MLS# PAPH2662184
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 contemporary masonry duplex contains 2,640 square feet and was built in 2011. Both units are leased, and the property includes hardwood flooring, newer HVAC systems, a private rear patio, and driveway parking for two vehicles. A full unfinished basement with approximately 7-8 ft ceilings provides additional storage capacity or possible future finished space, subject to applicable zoning, permitting, and approvals.
The property is located near Temple University's campus and public transportation in Philadelphia's 19121 ZIP code. Its existing tenant occupancy, residential duplex configuration, and established physical improvements provide a defined income-property profile. Heating is provided by forced air, with central air conditioning serving the building.
The property is located near Temple University's campus and public transportation in Philadelphia's 19121 ZIP code. Its existing tenant occupancy, residential duplex configuration, and established physical improvements provide a defined income-property profile. Heating is provided by forced air, with central air conditioning serving the building.
Key Highlights
- Duplex with 2,640 square feet, built in 2011
- Both units are currently leased
- Private rear patio and hardwood floors
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
$45,051
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
8.67%
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%
$901,020
$901.0K
Cap Rate 7%
$643,586
$643.6K
Cap Rate 9%
$500,567
$500.6K
Market Conditions
NOI Build-Up for 2,640 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
$68.1K $25.80/SF
− Vacancy
−$3.8K −$1.42/SF
EGI
$64.4K $24.38/SF
− OpEx
−$19.3K −$7.31/SF
NOI
$45.1K $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%
$901,020
Cap Rate 7%
$643,586
Cap Rate 9%
$500,567
Alternative Uses
Best Use
Multifamily LT 5
$643.6K
$563.1K – $750.9K
NOI $45,051 @ 7.0% cap · market cap 8.67%
Second Best
Apartment 5plus
$593.2K
$519.1K – $692.1K
NOI $41,526 @ 7.0% cap · market cap 7.99%
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
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,065
Businesses Nearby
Explore this area
Business Placement
Demographics for 19121, PA
41,799
Population
19,673
Households
2.1
Avg Household Size
28
Median Age
25%
College-Educated
84%
High-School Grad
2.4 sq mi
ZIP Area
17,416
Density / Sq Mi
$36,208
Median Household Income
$29,915
Median Earnings
$1,082
Median Rent
$250,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two leased units, off-street parking, and a full unfinished basement support an established residential income property.
Where is this duplex located?
The property is located at 1805 N 18TH Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $519,900.
What are key features of this property?
This property features: Duplex with 2,640 square feet, built in 2011; Both units are currently leased; Private rear patio and hardwood floors
