Updated Brick-Front
For Sale
$619,000
2340 CHRISTIAN Street, Philadelphia, PA 19146
Multi-Family, PHILADELPHIA, PA
Property Size1,572 SF
Lot Size0.02 Acres
Price / SF$393.77
Days on Market149
Property Features for 2340 CHRISTIAN Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
On Street
Interior features
Bathroom - Tub Shower, Breakfast Area, Ceiling Fan(s), Combination Kitchen/Living, Floor Plan - Traditional, Kitchen - Eat-In, Kitchen - Table Space, Recessed Lighting, Upgraded Countertops, Window Treatments, Wood Floors
Appliances
Built-In Microwave, Built-In Range, Dishwasher, Disposal, Dryer - Electric, Dryer - Front Loading, Energy Efficient Appliances, Oven/Range - Gas, Water Heater - High-Efficiency, Washer/Dryer Stacked, Washer - Front Loading
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Standard status
Active
Size
1,572 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
7080
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
private backyard patio
in-unit washer/dryer
hardwood floors
high ceilings
city skyline views
Building Details
Year built
1920
Number of units
2
Building materials
Masonry
Architectural style
Other
Listing Agency:
Class-Harlan Real Estate, LLC
(215) 348-8111
Listed By:
JEFFREY W. CLEMENTS · License #RS342660
(215) 292-8508
Added: Apr 21
Changed: Aug 19
Last Checked: Sep 16 at 6:06AM
MLS# PAPH2607008
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 1,572-square-foot masonry duplex, built in 1920, contains two tenant-occupied residences with updated kitchens, bathrooms, lighting, and hardware. The first-floor unit uses a bi-level layout with two bedrooms, one bathroom, hardwood floors, new appliances, front-loading washer and dryer, and a private backyard patio. The second-floor residence offers a flexible one- to two-bedroom configuration with one bathroom, hardwood floors, high ceilings, skyline views, and in-unit laundry.
Both units include practical residential features such as central air, forced-air heating, recessed lighting, upgraded countertops, and energy-efficient appliances. The property also provides on-street parking and includes basement space. Located at 2340 Christian Street in Philadelphia, the duplex is near hospitals and universities, with the surrounding area described as having strong rental demand.
Both units include practical residential features such as central air, forced-air heating, recessed lighting, upgraded countertops, and energy-efficient appliances. The property also provides on-street parking and includes basement space. Located at 2340 Christian Street in Philadelphia, the duplex is near hospitals and universities, with the surrounding area described as having strong rental demand.
Key Highlights
- 1,572‑square‑foot duplex on a 0.022‑acre lot
- Two tenant‑occupied units with updated kitchens, bathrooms, lighting, and hardware
- First‑floor bi‑level unit includes 2 bedrooms, 1 bathroom, and a private backyard patio
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
$26,826
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
4.33%
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%
$536,520
$536.5K
Cap Rate 7%
$383,229
$383.2K
Cap Rate 9%
$298,067
$298.1K
Market Conditions
NOI Build-Up for 1,572 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
$40.6K $25.80/SF
− Vacancy
−$2.2K −$1.42/SF
EGI
$38.3K $24.38/SF
− OpEx
−$11.5K −$7.31/SF
NOI
$26.8K $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%
$536,520
Cap Rate 7%
$383,229
Cap Rate 9%
$298,067
Alternative Uses
Best Use
Multifamily LT 5
$383.2K
$335.3K – $447.1K
NOI $26,826 @ 7.0% cap · market cap 4.33%
Second Best
Apartment 5plus
$353.2K
$309.1K – $412.1K
NOI $24,727 @ 7.0% cap · market cap 3.99%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,278
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 tenant-occupied residences feature renovated kitchens and baths, hardwood flooring, in-unit laundry, and central air conditioning.
Where is this duplex located?
The property is located at 2340 CHRISTIAN Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $619,000.
What are key features of this property?
This property features: 1,572‑square‑foot duplex on a 0.022‑acre lot; Two tenant‑occupied units with updated kitchens, bathrooms, lighting, and hardware; First‑floor bi‑level unit includes 2 bedrooms, 1 bathroom, and a private backyard patio
