Recently Renovated
New
For Sale
Under Contract
$425,000
3281 RED LION Road, Philadelphia, PA 19114
Multi-Family, PHILADELPHIA, PA
Property Size1,116 SF
Lot Size0.06 Acres
Price / SF$380.82
Days on Market6
Property Features for 3281 RED LION Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
2
Parking features
Driveway
Subdivision
MORRELL PARK
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active Under Contract
Size
1,116 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
5452
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1974
Number of units
2
Building materials
Masonry
Architectural style
Other
Listing Agency:
Keller Williams Main Line · Keller Williams Realty
(610) 520-0100
Listed By:
Daniel Tae Kim · License #RS342404
(267) 231-0061
Added: Aug 29
Changed: Sep 1
Last Checked: Sep 3 at 8:06PM
MLS# PAPH2665064
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 1,116-square-foot duplex contains two similarly configured apartments, each with two bedrooms and one bathroom. The property was built in 1974 and recently renovated with luxury vinyl plank flooring, recessed LED lighting, granite kitchen countertops, stainless steel appliances, and white shaker cabinetry. Central heating and central air conditioning serve the building, which has masonry construction.
One apartment is occupied by a long-term tenant with a lease ending in February, while the second apartment is vacant. The vacant unit includes an in-unit washer and dryer along with a private balcony. The occupied unit offers access to a private rear yard. Two dedicated parking spaces are provided in the front driveway at 3281 Red Lion Road in Philadelphia, Pennsylvania.
One apartment is occupied by a long-term tenant with a lease ending in February, while the second apartment is vacant. The vacant unit includes an in-unit washer and dryer along with a private balcony. The occupied unit offers access to a private rear yard. Two dedicated parking spaces are provided in the front driveway at 3281 Red Lion Road in Philadelphia, Pennsylvania.
Key Highlights
- Duplex with 2 units, each offering 2 bedrooms and 1 bathroom
- 1,116 square feet on a 0.06‑acre lot
- Recently renovated kitchens with granite counters, stainless steel appliances, and white shaker cabinets
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
$19,044
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
4.48%
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%
$380,880
$380.9K
Cap Rate 7%
$272,057
$272.1K
Cap Rate 9%
$211,600
$211.6K
Market Conditions
NOI Build-Up for 1,116 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
$28.8K $25.80/SF
− Vacancy
−$1.6K −$1.42/SF
EGI
$27.2K $24.38/SF
− OpEx
−$8.2K −$7.31/SF
NOI
$19.0K $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%
$380,880
Cap Rate 7%
$272,057
Cap Rate 9%
$211,600
Alternative Uses
Best Use
Multifamily LT 5
$272.1K
$238.1K – $317.4K
NOI $19,044 @ 7.0% cap · market cap 4.48%
Second Best
Apartment 5plus
$250.8K
$219.4K – $292.6K
NOI $17,554 @ 7.0% cap · market cap 4.13%
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
50%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
461
Businesses Nearby
Explore this area
Business Placement
Demographics for 19114, PA
32,645
Population
14,703
Households
2.2
Avg Household Size
43
Median Age
30%
College-Educated
91%
High-School Grad
5.6 sq mi
ZIP Area
5,829
Density / Sq Mi
$76,076
Median Household Income
$48,257
Median Earnings
$1,369
Median Rent
$276,400
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 - Two-unit residential property with updated interiors, central systems, and dedicated driveway parking.
Where is this duplex located?
The property is located at 3281 RED LION Road Philadelphia, PA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Duplex with 2 units, each offering 2 bedrooms and 1 bathroom; 1,116 square feet on a 0.06‑acre lot; Recently renovated kitchens with granite counters, stainless steel appliances, and white shaker cabinets
