Two-Unit Duplex with
For Sale
$495,000
324 E GIRARD Avenue, Philadelphia, PA 19125
Multi-Family, PHILADELPHIA, PA
Property Size2,235 SF
Lot Size0.03 Acres
Price / SF$221.48
Days on Market44
Property Features for 324 E GIRARD Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
On Street
Subdivision
FISHTOWN
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
2,235 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
7069
Utilities
Heating system
Other (Heating), Hot Water(Heating)
Cooling system
Window Unit(s)
Building Details
Year built
1915
Number of units
2
Building materials
Masonry
Architectural style
Other
Listing Agency:
Leibovitz Real Estate, LLC · Century 21 Real Estate
(215) 634-0800
Listed By:
Wayne Leibovitz · License #RM424488
(215) 852-9986
Added: Jul 22
Changed: Aug 31
Last Checked: Sep 3 at 3:06AM
MLS# PAPH2650908
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 2,235-square-foot masonry duplex, built in 1915, includes two distinct residential units and a full cement basement. The first-floor apartment offers a living room, dining room, full bathroom, and eat-in kitchen. A bi-level apartment spans the second and third floors, with a living room, eat-in kitchen, two bedrooms, two full bathrooms, a multipurpose room, and storage space. Separate heaters, water heaters, and gas and electric meters serve the property, which also has window-unit cooling and a hard-wired fire alarm system.
The property is located at 324 E Girard Avenue in Philadelphia’s Fishtown area, along the Girard Avenue Corridor. Restaurants, coffee shops, retail, services, parks, and entertainment are nearby, with access to Center City, I-95, and public transportation. The property certificate permits Office-Business and Professional use as well as Residential-Household Living-Two Family.
The property is located at 324 E Girard Avenue in Philadelphia’s Fishtown area, along the Girard Avenue Corridor. Restaurants, coffee shops, retail, services, parks, and entertainment are nearby, with access to Center City, I-95, and public transportation. The property certificate permits Office-Business and Professional use as well as Residential-Household Living-Two Family.
Key Highlights
- 2,235 square feet on a 0.0275‑acre lot
- Two residential units, including a bi‑level apartment with 2 bedrooms and 2 full bathrooms
- Full cement basement with separate heaters and water heaters
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
$38,140
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
7.71%
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%
$762,800
$762.8K
Cap Rate 7%
$544,857
$544.9K
Cap Rate 9%
$423,778
$423.8K
Market Conditions
NOI Build-Up for 2,235 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
$57.7K $25.80/SF
− Vacancy
−$3.2K −$1.42/SF
EGI
$54.5K $24.38/SF
− OpEx
−$16.3K −$7.31/SF
NOI
$38.1K $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%
$762,800
Cap Rate 7%
$544,857
Cap Rate 9%
$423,778
Alternative Uses
Best Use
Multifamily LT 5
$544.9K
$476.8K – $635.7K
NOI $38,140 @ 7.0% cap · market cap 7.71%
Second Best
Apartment 5plus
$502.2K
$439.4K – $585.9K
NOI $35,155 @ 7.0% cap · market cap 7.10%
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
Highway access
Location Intelligence
Trade Area within ½ mile
2,995
Businesses Nearby
Explore this area
Business Placement
Demographics for 19125, PA
25,325
Population
13,055
Households
1.9
Avg Household Size
34
Median Age
64%
College-Educated
94%
High-School Grad
1.4 sq mi
ZIP Area
18,089
Density / Sq Mi
$110,842
Median Household Income
$62,656
Median Earnings
$1,743
Median Rent
$373,600
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 - Masonry duplex with separate heating systems, a hard-wired fire alarm, and flexible two-family living arrangements.
Where is this duplex located?
The property is located at 324 E GIRARD Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 2,235 square feet on a 0.0275‑acre lot; Two residential units, including a bi‑level apartment with 2 bedrooms and 2 full bathrooms; Full cement basement with separate heaters and water heaters
