Corner Duplex with Bonus
For Sale
$264,000
3945 CLARIDGE Street, Philadelphia, PA 19124
Multi-Family, PHILADELPHIA, PA
Property Size1,400 SF
Lot Size0.03 Acres
Price / SF$188.57
Days on Market88
Property Features for 3945 CLARIDGE 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
1,400 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
2557
Utilities
Heating system
Hot Water(Heating)
Cooling system
Window Unit(s)
Amenities
shared utility room and laundry area
front cement patio
common foyer entry
Building Details
Year built
1965
Number of units
2
Building materials
Masonry
Architectural style
Other
Listing Agency:
Realty Mark Associates
(215) 376-4444
Listed By:
Francisco Michaud · License #RS342767
(267) 250-8489
Added: Jun 4
Changed: Aug 19
Last Checked: Aug 30 at 2:06AM
MLS# PAPH2630370
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.
Built in 1965, this 1,400-square-foot masonry duplex contains two residential units with a common foyer entrance. Each unit includes a living room, eat-in kitchen, gas range, stainless steel sink, ceramic tile flooring, laminate counters, and vinyl windows. A former garage has been converted into an additional room with a full bathroom. The property also includes a front cement patio, shared utility and laundry area, and separate utilities for the units.
Heating is provided by hot water systems, with one heater serving each unit, and three hot water heaters are on site. Cooling is supplied by window units. The corner lot measures 0.0298 acres and includes a small rear driveway, while additional parking is available on the street.
Heating is provided by hot water systems, with one heater serving each unit, and three hot water heaters are on site. Cooling is supplied by window units. The corner lot measures 0.0298 acres and includes a small rear driveway, while additional parking is available on the street.
Key Highlights
- Two‑unit duplex with a 2+2 configuration
- 1,400 square feet on a 0.0298‑acre corner lot
- Converted garage provides a bonus room and full bath
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
$18,040
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
6.83%
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%
$360,800
$360.8K
Cap Rate 7%
$257,714
$257.7K
Cap Rate 9%
$200,444
$200.4K
Market Conditions
NOI Build-Up for 1,400 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
$27.7K $19.80/SF
− Vacancy
−$1.9K −$1.39/SF
EGI
$25.8K $18.41/SF
− OpEx
−$7.7K −$5.52/SF
NOI
$18.0K $12.89/SF
Area
ZIP 19124
Vacancy
7.03%
Lease Rate
$19.80 /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%
$360,800
Cap Rate 7%
$257,714
Cap Rate 9%
$200,444
Alternative Uses
Best Use
Multifamily LT 5
$257.7K
$225.5K – $300.7K
NOI $18,040 @ 7.0% cap · market cap 6.83%
Second Best
Apartment 5plus
$237.1K
$207.5K – $276.7K
NOI $16,599 @ 7.0% cap · market cap 6.29%
Theoretical Best
Specialty Retail
$805.3K
$704.6K – $939.5K
NOI $56,371 @ 7.0% cap · market cap 21.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,205
Businesses Nearby
Explore this area
Business Placement
Demographics for 19124, PA
68,766
Population
27,014
Households
2.5
Avg Household Size
33
Median Age
15%
College-Educated
80%
High-School Grad
5.1 sq mi
ZIP Area
13,484
Density / Sq Mi
$46,100
Median Household Income
$35,364
Median Earnings
$1,063
Median Rent
$155,000
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 - Masonry two-unit property with separate utilities, a converted garage room, and shared laundry facilities.
Where is this duplex located?
The property is located at 3945 CLARIDGE Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $264,000.
What are key features of this property?
This property features: Two‑unit duplex with a 2+2 configuration; 1,400 square feet on a 0.0298‑acre corner lot; Converted garage provides a bonus room and full bath
