Port Richmond Turnkey
For Sale
$265,000
2641 E MADISON Street, Philadelphia, PA 19134
MULTI_FAMILY - Other - PHILADELPHIA, PA
Property Size1,405 SF
Lot Size0.02 Acres
Price / SF$188.61
Days on Market121
Property Features for 2641 E MADISON 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
1,405 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
3737
Utilities
Heating system
Hot Water(Heating), Baseboard
Cooling system
Window Unit(s)
Amenities
shared outdoor space
Building Details
Year built
1910
Number of units
2
Building materials
Masonry
Architectural style
Other
Listing Agency:
JG Real Estate LLC
(215) 467-4100
Listed By:
Yadira Toledo · License #RS338110
(215) 313-1512
Added: Apr 14
Changed: Aug 3
Last Checked: Aug 12 at 12:06AM
MLS# PAPH2606378
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 fully rented duplex in Port Richmond offers an investment opportunity. The property features two 1-bedroom, 1-bathroom units, each with separate entrances and utilities, and a shared outdoor space. The first-floor unit includes an updated eat-in kitchen, a 3-piece bathroom, high ceilings, and large windows providing natural light. The layout features a living area, a spacious rear bedroom, and a flex space suitable for an office or additional storage. Basement access is available for laundry and storage. The second-floor unit has a private entrance through the shared patio and includes an eat-in kitchen, a bedroom, a large living room, a full bathroom, and in-unit laundry. The property is conveniently located with easy access to I-95, Center City, and the shops and dining options in Port Richmond and Fishtown. Both units are tenant-occupied. The property size is 1405 square feet and the lot size is 0.0213 acres.
Key Highlights
- Port Richmond duplex built in 1910 with masonry construction and two 1 bed / 1 bath units that are tenant‑occupied
- Each unit has separate entrance and separate utilities, plus shared outdoor space for both tenants
- First‑floor unit includes an updated eat‑in kitchen, 3‑piece bathroom, high ceilings, large windows, and basement access for laundry/storage
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
$23,976
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
9.05%
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%
$479,520
$479.5K
Cap Rate 7%
$342,514
$342.5K
Cap Rate 9%
$266,400
$266.4K
Market Conditions
NOI Build-Up for 1,405 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
$36.2K $25.80/SF
− Vacancy
−$2.0K −$1.42/SF
EGI
$34.3K $24.38/SF
− OpEx
−$10.3K −$7.31/SF
NOI
$24.0K $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%
$479,520
Cap Rate 7%
$342,514
Cap Rate 9%
$266,400
Alternative Uses
Best Use
Multifamily LT 5
$342.5K
$299.7K – $399.6K
NOI $23,976 @ 7.0% cap · market cap 9.05%
Second Best
Apartment 5plus
$315.7K
$276.3K – $368.3K
NOI $22,100 @ 7.0% cap · market cap 8.34%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,918
Businesses Nearby
Explore this area
Business Placement
Demographics for 19134, PA
57,463
Population
25,290
Households
2.3
Avg Household Size
33
Median Age
18%
College-Educated
77%
High-School Grad
3.4 sq mi
ZIP Area
16,901
Density / Sq Mi
$41,849
Median Household Income
$35,858
Median Earnings
$1,179
Median Rent
$127,500
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 - Fully rented duplex in Port Richmond with separate entrances and utilities.
Where is this duplex located?
The property is located at 2641 E MADISON Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Port Richmond duplex built in 1910 with masonry construction and two 1 bed / 1 bath units that are tenant‑occupied; Each unit has separate entrance and separate utilities, plus shared outdoor space for both tenants; First‑floor unit includes an updated eat‑in kitchen, 3‑piece bathroom, high ceilings, large windows, and basement access for laundry/storage
