7-Bedroom Duplex with Finished
For Sale
$499,999
1939 N GRATZ Street, Philadelphia, PA 19121
MULTI_FAMILY - Other - PHILADELPHIA, PA
Property Size2,689 SF
Lot Size0.03 Acres
Price / SF$185.94
Days on Market86
Property Features for 1939 N GRATZ Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Appliances
Energy Efficient Appliances
Subdivision
TEMPLE UNIVERSITY
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
2,689 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
7386
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
2009
Number of units
2
Building materials
Masonry
Architectural style
Other
Listing Agency:
Opus Elite Real Estate
(215) 395-6277
Listed By:
Lixia Tapia · License #RS341401
(267) 721-9886
Added: Jun 14
Changed: Aug 17
Last Checked: Sep 7 at 5:06PM
MLS# PAPH2636200
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 masonry duplex, built in 2009, contains 2,689 square feet with 7 bedrooms and 3 full bathrooms. The first unit spans the first and second floors plus a finished lower level, and includes 4 bedrooms, 2 bathrooms, an updated kitchen with granite countertops and stainless steel appliances, in-unit laundry, and a private rear yard. The lower level adds living space and includes one bedroom. The second unit has a bi-level upper-floor layout with 3 bedrooms, 1 bathroom, an updated kitchen, and in-unit laundry. The property is fully furnished.
One unit is tenant occupied, while the other is vacant. Building systems include forced-air heating and central air conditioning. The property is located near Temple University, public transportation, shopping, and major commuter routes in Philadelphia’s 19121 ZIP code.
One unit is tenant occupied, while the other is vacant. Building systems include forced-air heating and central air conditioning. The property is located near Temple University, public transportation, shopping, and major commuter routes in Philadelphia’s 19121 ZIP code.
Key Highlights
- 2,689‑square‑foot duplex with 7 bedrooms and 3 full bathrooms
- Built in 2009 with masonry construction
- Finished lower level includes additional living space and a bedroom
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
$45,887
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
9.18%
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%
$917,740
$917.7K
Cap Rate 7%
$655,529
$655.5K
Cap Rate 9%
$509,856
$509.9K
Market Conditions
NOI Build-Up for 2,689 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
$69.4K $25.80/SF
− Vacancy
−$3.8K −$1.42/SF
EGI
$65.6K $24.38/SF
− OpEx
−$19.7K −$7.31/SF
NOI
$45.9K $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%
$917,740
Cap Rate 7%
$655,529
Cap Rate 9%
$509,856
Alternative Uses
Best Use
Multifamily LT 5
$655.5K
$573.6K – $764.8K
NOI $45,887 @ 7.0% cap · market cap 9.18%
Second Best
Apartment 5plus
$604.2K
$528.7K – $705.0K
NOI $42,297 @ 7.0% cap · market cap 8.46%
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
Location Intelligence
Trade Area within ½ mile
2,097
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
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Frequently Asked Questions
What type of property is this?
Duplex - Masonry duplex near Temple University with updated kitchens, in-unit laundry, central air, and a private rear yard.
Where is this duplex located?
The property is located at 1939 N GRATZ Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $499,999.
What are key features of this property?
This property features: 2,689‑square‑foot duplex with 7 bedrooms and 3 full bathrooms; Built in 2009 with masonry construction; Finished lower level includes additional living space and a bedroom
