Five-Unit Apartment
For Sale
$350,000
2051 MARGARET Street, Philadelphia, PA 19124
Multi-Family, PHILADELPHIA, PA
Property Size1,104 SF
Lot Size0.02 Acres
Price / SF$317.03
Days on Market52
Property Features for 2051 MARGARET Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
On Street
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
1,104 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
1851
Utilities
Heating system
Electric (Heating), Baseboard
Building Details
Year built
1935
Number of units
2
Building materials
Frame
Listing Agency:
Keller Williams Real Estate - West Chester · Keller Williams Realty
(610) 399-5100
Listed By:
Deneen Sweeney · License #RS323144
(484) 888-3177
Added: Jul 9
Changed: Aug 19
Last Checked: Aug 29 at 2:06AM
MLS# PAPH2646330
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 Philadelphia apartment property combines five occupied one-bedroom, one-bathroom units with a separate vacant lot at 2047 Margaret Street. The buildings at 2049 and 2051 Margaret Street were constructed in 1935 with frame construction, electric baseboard heating, and a recently installed roof. The offering is being conveyed as-is, with no repairs to be completed by the seller.
The three RM-1 parcels are located near I-95, with access to Center City Philadelphia, Philadelphia International Airport, and New Jersey. Public transportation is available at the corner, and parking is provided on the street. The vacant parcel adds 0.0234 acres for potential expansion, additional parking, or outdoor use, subject to applicable requirements.
The property measures 1,104 square feet and is reported at approximately a 9% cap rate. All five rental units are occupied, and property certifications are available in the document section.
The three RM-1 parcels are located near I-95, with access to Center City Philadelphia, Philadelphia International Airport, and New Jersey. Public transportation is available at the corner, and parking is provided on the street. The vacant parcel adds 0.0234 acres for potential expansion, additional parking, or outdoor use, subject to applicable requirements.
The property measures 1,104 square feet and is reported at approximately a 9% cap rate. All five rental units are occupied, and property certifications are available in the document section.
Key Highlights
- Five occupied 1‑bedroom, 1‑bathroom rental units
- Approximately 9% cap rate
- Recently installed roof at the apartment buildings
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
$13,090
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
3.74%
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%
$261,800
$261.8K
Cap Rate 7%
$187,000
$187.0K
Cap Rate 9%
$145,444
$145.4K
Market Conditions
NOI Build-Up for 1,104 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
$25.7K $23.28/SF
− Vacancy
−$1.9K −$1.72/SF
EGI
$23.8K $21.56/SF
− OpEx
−$10.7K −$9.70/SF
NOI
$13.1K $11.86/SF
Area
ZIP 19124
Vacancy
7.40%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$261,800
Cap Rate 7%
$187,000
Cap Rate 9%
$145,444
Alternative Uses
Best Use
Apartment 5plus
$187.0K
$163.6K – $218.2K
NOI $13,090 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$635.0K
$555.7K – $740.9K
NOI $44,452 @ 7.0% cap · market cap 12.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,508
Businesses Nearby
Explore this area
Business Placement
Demographics for 19124, PA
68,766
Population
27,014
Households
2.5
Avg Household Size
33
Median Age
15%
College-Educated
80%
High-School Grad
5.1 sq mi
ZIP Area
13,484
Density / Sq Mi
$46,100
Median Household Income
$35,364
Median Earnings
$1,063
Median Rent
$155,000
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?
Apartment building - Fully leased residential units are paired with an adjoining vacant lot and a recently replaced roof.
Where is this apartment building located?
The property is located at 2051 MARGARET Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Five occupied 1‑bedroom, 1‑bathroom rental units; Approximately 9% cap rate; Recently installed roof at the apartment buildings
