Updated Two-Unit Brick
For Sale
$325,000
2050 REED Street, Philadelphia, PA 19146
Multi-Family, PHILADELPHIA, PA
Property Size1,508 SF
Lot Size0.02 Acres
Price / SF$215.52
Days on Market8
Property Features for 2050 REED Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
On Street
Appliances
Built-In Microwave, Oven - Single, Refrigerator, Stainless Steel Appliances
Subdivision
POINT BREEZE
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Special listing conditions
In Foreclosure
Standard status
Active
Size
1,508 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
5018
Utilities
Heating system
Central, Forced Air
Amenities
in-unit laundry
Building Details
Year built
1923
Number of units
2
Building materials
Masonry
Architectural style
Contemporary
Listing Agency:
RE/MAX Prime Real Estate · RE/MAX International
(610) 622-7500
Listed By:
Jaimee A. Cohen · License #RM424669
(610) 622-7500
Added: Aug 24
Changed: Aug 29
Last Checked: Aug 31 at 9:06AM
MLS# PAPH2663358
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 1,508-square-foot, two-story brick end-row duplex at 2050 REED Street includes two separately metered living units with shared water service. Built in 1923, the property has updated kitchens and bathrooms, vinyl flooring, and forced-air central heating.
The first-floor residence offers 1-2 bedrooms, in-unit laundry, and direct entry to a full basement with storage and utility access. The second-floor unit provides 2 bedrooms, 1 full bathroom, an exposed brick accent wall, and its own laundry. On-street parking is available, and the property is located in Point Breeze near shopping, dining, public transportation, and major commuter routes.
The first-floor residence offers 1-2 bedrooms, in-unit laundry, and direct entry to a full basement with storage and utility access. The second-floor unit provides 2 bedrooms, 1 full bathroom, an exposed brick accent wall, and its own laundry. On-street parking is available, and the property is located in Point Breeze near shopping, dining, public transportation, and major commuter routes.
Key Highlights
- Two separately metered living units with shared water service
- 1,508 square feet across a two‑story brick end‑row duplex
- First‑floor unit offers 1‑2 bedrooms, in‑unit laundry, and basement access
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
$25,734
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
7.92%
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%
$514,680
$514.7K
Cap Rate 7%
$367,629
$367.6K
Cap Rate 9%
$285,933
$285.9K
Market Conditions
NOI Build-Up for 1,508 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
$38.9K $25.80/SF
− Vacancy
−$2.1K −$1.42/SF
EGI
$36.8K $24.38/SF
− OpEx
−$11.0K −$7.31/SF
NOI
$25.7K $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%
$514,680
Cap Rate 7%
$367,629
Cap Rate 9%
$285,933
Alternative Uses
Best Use
Multifamily LT 5
$367.6K
$321.7K – $428.9K
NOI $25,734 @ 7.0% cap · market cap 7.92%
Second Best
Apartment 5plus
$338.9K
$296.5K – $395.3K
NOI $23,720 @ 7.0% cap · market cap 7.30%
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
Paved road access
Location Intelligence
Trade Area within ½ mile
2,586
Businesses Nearby
Explore this area
Business Placement
Demographics for 19146, PA
41,920
Population
22,182
Households
1.9
Avg Household Size
34
Median Age
65%
College-Educated
94%
High-School Grad
1.7 sq mi
ZIP Area
24,659
Density / Sq Mi
$99,702
Median Household Income
$68,849
Median Earnings
$1,708
Median Rent
$452,200
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 separately metered residences include updated kitchens, bathrooms, and in-unit laundry.
Where is this duplex located?
The property is located at 2050 REED Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two separately metered living units with shared water service; 1,508 square feet across a two‑story brick end‑row duplex; First‑floor unit offers 1‑2 bedrooms, in‑unit laundry, and basement access
