Duplex Student Rental With Six
For Sale
$675,000
3212 WINTER STREET, Philadelphia, PA 19104
SINGLE_FAMILY - PHILADELPHIA, PA
Property Size1,660 SF
Price / SF$406.63
Days on Market148
Property Features for 3212 WINTER STREET
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bedroom 5, Bedroom 6, Bedroom 1, Bedroom 2
Subdivision
POWELTON VILLAGE
Standard status
Active
Size
1,660 SF
Building Details
Year built
1940
Listing Agency:
BHHS Fox & Roach Center City-Society Hill · Berkshire Hathaway HomeServices
(215) 627-6005
Listed By:
Frank DeFazio
(610) 636-4364
Added: Mar 18
Changed: Aug 2
Last Checked: Aug 12 at 7:06AM
MLS# PAPH2595356
Copyright © 2026 Berkshire Hathaway HomeServices Fox & Roach, Realtors. 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 duplex-style student rental investment offers six bedrooms and two full bathrooms in a functional layout suited to shared living. The property is built in 1940 and is described as fully leased with existing tenants, maintaining full occupancy through August 31, 2026. At 1,660 SF, the home is configured for student housing needs, including multiple bedrooms and large shared living areas.
The property is located in Powelton Village and is described as within walking distance of Drexel University, the University of Pennsylvania, public transit, and neighborhood dining, supporting consistent leasing demand.
Existing lease terms provide for scheduled occupancy through the stated end date, and the property is described as a turnkey option for investors seeking an income-producing residential rental in a student-focused submarket.
The property is located in Powelton Village and is described as within walking distance of Drexel University, the University of Pennsylvania, public transit, and neighborhood dining, supporting consistent leasing demand.
Existing lease terms provide for scheduled occupancy through the stated end date, and the property is described as a turnkey option for investors seeking an income-producing residential rental in a student-focused submarket.
Key Highlights
- Six bedrooms and two full bathrooms
- 1,660 SF student rental property
- Built in 1940
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
$28,328
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
4.20%
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%
$566,560
$566.6K
Cap Rate 7%
$404,686
$404.7K
Cap Rate 9%
$314,756
$314.8K
Market Conditions
NOI Build-Up for 1,660 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
$42.8K $25.80/SF
− Vacancy
−$2.4K −$1.42/SF
EGI
$40.5K $24.38/SF
− OpEx
−$12.1K −$7.31/SF
NOI
$28.3K $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%
$566,560
Cap Rate 7%
$404,686
Cap Rate 9%
$314,756
Alternative Uses
Best Use
Multifamily LT 5
$404.7K
$354.1K – $472.1K
NOI $28,328 @ 7.0% cap · market cap 4.20%
Second Best
Apartment 5plus
$373.0K
$326.4K – $435.2K
NOI $26,111 @ 7.0% cap · market cap 3.87%
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
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,082
Businesses Nearby
Explore this area
Business Placement
Demographics for 19104, PA
56,839
Population
23,888
Households
2.4
Avg Household Size
26
Median Age
47%
College-Educated
90%
High-School Grad
3.1 sq mi
ZIP Area
18,335
Density / Sq Mi
$39,526
Median Household Income
$18,420
Median Earnings
$1,329
Median Rent
$268,200
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 - Duplex-style student rental with six bedrooms and two full bathrooms, built in 1940 and fully leased through August 31, 2026.
Where is this duplex located?
The property is located at 3212 WINTER STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Six bedrooms and two full bathrooms; 1,660 SF student rental property; Built in 1940
