Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3942 Wallace St Philadelphia, PA 19104

    Sponsored
    For Sale
    $370,000

    MULTI_FAMILY - PHILADELPHIA, PA

    Property size:
    1,907 SF
    Lot size:
    0.03 Acres
    Days on Market:
    4
    Last Refresh:
    Jan 30 at 4:06 am

    Property Features for 3942 Wallace St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Basement, Dining Room
    Interior features
    2nd Kitchen, Bathroom - Stall Shower, Bathroom - Walk-In Shower, Combination Dining/Living, Combination Kitchen/Dining, Recessed Lighting, Studio
    Appliances
    Built-In Microwave, Refrigerator, Stove
    Size
    1,907 SF
    Lot size
    0.03 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1950
    Number of units
    2
    Building materials
    Masonry

    We can help!

    Listing Contact
    Melissa Purnell

    Re/max Access (215) 400-2600

    Listing agent Melissa Purnell (267) 273-3440

    Listing date Jan 27, 2026

    MLS# PAPH2578578 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    West Philadelphia Mixed-Use Duplex

    This corner-unit duplex, located in a booming West Philadelphia neighborhood near Drexel University and the University of Pennsylvania, offers a separate office/studio space with its own entrance. The first-floor unit, accessed through a side entrance, features a fully updated kitchen with granite countertops and newer appliances, flowing into a spacious living area with wood floors. This level includes a full updated bath, a stackable washer and dryer, and a hallway leading to a large, fenced rear yard suitable for outdoor enjoyment or future expansion. The second-floor unit, also accessed from the side, offers a thoughtfully designed layout with a central living and kitchen area, in-unit laundry, and two bedrooms with two full baths, positioned to maximize privacy. This unit features separate utilities and central air, enhancing comfort and efficiency. The property includes a separate storefront-style space with a large display window, its own entrance, and a roll-up security gate. This space can be opened to the first-floor unit to create additional living or work space, or maintained as a distinct office or studio. The unfinished basement, accessed via a street-level Bilco door, provides ample storage or future potential. The property, situated on a 0.03-acre lot, has a building size of 1907 square feet. Surrounded by new construction and ongoing development, this property offers significant upside for investors, owner-occupants, or live-in/rent-out buyers seeking versatility and long-term value.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Philadelphia AOH Church ... Church

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Delaware
    State
    Pennsylvania
    Longitude
    -75.20119
    Latitude
    39.964

    Nearby Similar for Sale

    • $849,900
      8,412 SF

      Mixed-Use Corner Property in Mayfair

      Highly visible commercial mixed-use property in a densely populated area.
      4624 Rhawn St, Philadelphia, PA 19136
      View Details
    • $359,900
      1,856 SF

      Renovated Duplex Near Center City

      Fully renovated duplex with potential for a third unit.
      1411 W Loudon St, Philadelphia, PA 19141
      View Details
    • $960,000
      4,488 SF

      Renovated Triplex Near Fishtown

      Fully renovated triplex with bi-level units near Fishtown and Temple.
      1334 N 7Th St, Philadelphia, PA 19122
      View Details
    • $960,000
      4,488 SF

      Renovated Triplex Near Fishtown

      Fully renovated triplex with bi-level units near Fishtown and Temple.
      1336 N 7Th St, Philadelphia, PA 19122
      View Details
    • $879,000
      2,868 SF

      Prime Retail with Two-Story Apartment

      Retail space with a two-story apartment in Queen Village.
      713 S 4Th St, Philadelphia, PA 19147
      View Details
    • New
      $3,500,000
      0.51 Acres

      Versatile Philadelphia Restaurant/Nightclub Opportunity

      Spacious, upgraded restaurant/nightclub with liquor license and two kitchens.
      2154-72 Bridge St, Philadelphia, PA 19124
      View Details
    • $999,999
      0.03 Acres

      Spacious Multi-Level Commercial Property

      Multi-level commercial property near Rittenhouse Square, ideal for professional use.
      313 S 16Th St, Philadelphia, PA 19102
      View Details
    • $999,999
      3,423 SF

      Rittenhouse Square Multifamily Redevelopment Opportunity

      Multi-level property near Rittenhouse Square, ideal for residential conversion.
      313 S 16Th St, Philadelphia, PA 19102
      View Details
    • $2,850,000
      0.19 Acres

      Modern Creative Office in Manayunk

      Modern office property in a vibrant Philadelphia neighborhood.
      4640-46 Umbria St, Philadelphia, PA 19127
      View Details
    • $799,000
      4,053 SF

      Philadelphia Triplex Near Temple University

      Triplex built in 2016, close to Temple University, great investment.
      1431 N 17Th St, Philadelphia, PA 19121
      View Details
    • $1,750,000
      0.09 Acres

      Established Philadelphia Bar/Restaurant Opportunity

      Spacious commercial property with bar and restaurant potential.
      7312-16 Castor Ave, Philadelphia, PA 19152
      View Details
    • New
      $1,395,000
      4,512 SF

      Society Hill Quad Multifamily Property

      Fully occupied 4-unit property in Philadelphia's historic Society Hill.
      423 Spruce St, Philadelphia, PA 19106
      View Details

    FAQs

    What type of property is this?
    Duplex - Corner-unit duplex with office/studio in booming West Philadelphia neighborhood.
    Where is this duplex located?
    The property is located at 3942 Wallace St Philadelphia, PA.
    What is the asking price?
    The asking price for this property is $370,000.
    What are key features of this property?
    This property features: - Corner-unit duplex with separate storefront-style space offering versatile options: live-in/rent-out, investment, or owner-occupancy.; - Prime location in a booming West Philadelphia neighborhood near Drexel University and the University of Pennsylvania.; - First-floor unit features a FULLY UPDATED KITCHEN with GRANITE COUNTERTOPS, newer appliances, and access to a LARGE, FENCED REAR YARD.
    (267) 273-3440
    Request Owner's contact information
    3942 Wallace St Philadelphia, PA 19104
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3942 Wallace St
    Philadelphia, PA 19104
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3942 Wallace St Philadelphia, PA 19104
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Melissa Purnell
    (267) 273-3440
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.