Renovated Duplex with Park
For Sale
$699,500
413 S 51ST Street, Philadelphia, PA 19143
Multi-Family, PHILADELPHIA, PA
Property Size2,960 SF
Lot Size0.05 Acres
Price / SF$236.32
Days on Market146
Property Features for 413 S 51ST Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
Off Street
Interior features
2nd Kitchen, Bar, Bathroom - Soaking Tub, Bathroom - Walk-In Shower, Built-Ins, Entry Level Bedroom, Floor Plan - Open, Kitchen - Gourmet, Recessed Lighting, Wine Storage, Wood Floors
Appliances
Dishwasher, Oven/Range - Electric, Refrigerator, Washer/Dryer Stacked
Subdivision
GARDEN COURT
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
2,960 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
8331
Utilities
Heating system
Heat Pump (Heating), Forced Air
Cooling system
Central Air
Building Details
Year built
1925
Number of units
2
Building materials
Masonry
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Mercury Real Estate Group
(215) 462-5100
Listed By:
Giang Emerich · License #RS349510
(267) 334-5720
Added: Apr 16
Changed: Sep 2
Last Checked: Sep 8 at 5:06AM
MLS# PAPH2607792
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 legal duplex combines a three-level primary residence with a separate one-bedroom apartment, creating a flexible two-unit configuration. The larger residence includes five bedrooms, 3.5 baths, a library or office, open living areas, a gourmet kitchen with island and beverage bar, pantry, laundry area, and a primary suite with soaking tub and walk-in shower. The renovated apartment includes one bedroom, one bath, updated appliances, laundry, and a home office area. Both units feature refreshed interiors, while the property also has updated mechanical systems, new electrical work, masonry construction, wood floors, and central air.
Located at 413 S 51ST Street in Philadelphia, the property overlooks Malcolm X park and is near Clark Park, UPenn, dining, and cafes. The 2,960-square-foot building occupies a 0.0459-acre lot and includes off-street parking. Originally built in 1925, it offers historic architectural elements alongside contemporary improvements.
Located at 413 S 51ST Street in Philadelphia, the property overlooks Malcolm X park and is near Clark Park, UPenn, dining, and cafes. The 2,960-square-foot building occupies a 0.0459-acre lot and includes off-street parking. Originally built in 1925, it offers historic architectural elements alongside contemporary improvements.
Key Highlights
- Legal duplex with 2,960 SF of building area on a 0.0459‑acre lot
- Main residence includes 5 bedrooms and 3.5 baths across three levels
- Separate renovated 1‑bedroom, 1‑bath apartment with its own laundry and home office
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
$32,066
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
4.58%
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%
$641,320
$641.3K
Cap Rate 7%
$458,086
$458.1K
Cap Rate 9%
$356,289
$356.3K
Market Conditions
NOI Build-Up for 2,960 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
$49.4K $16.68/SF
− Vacancy
−$3.6K −$1.20/SF
EGI
$45.8K $15.48/SF
− OpEx
−$13.7K −$4.64/SF
NOI
$32.1K $10.83/SF
Area
ZIP 19143
Vacancy
7.22%
Lease Rate
$16.68 /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%
$641,320
Cap Rate 7%
$458,086
Cap Rate 9%
$356,289
Alternative Uses
Best Use
Multifamily LT 5
$458.1K
$400.8K – $534.4K
NOI $32,066 @ 7.0% cap · market cap 4.58%
Second Best
Apartment 5plus
$407.4K
$356.5K – $475.4K
NOI $28,521 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$1.01M
$887.7K – $1.18M
NOI $71,017 @ 7.0% cap · market cap 10.15%
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
2,568
Businesses Nearby
Explore this area
Business Placement
Demographics for 19143, PA
64,648
Population
31,391
Households
2.1
Avg Household Size
36
Median Age
32%
College-Educated
91%
High-School Grad
3.1 sq mi
ZIP Area
20,854
Density / Sq Mi
$47,964
Median Household Income
$38,189
Median Earnings
$1,235
Median Rent
$152,000
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 - Legal two-unit layout pairs a five-bedroom main residence with a renovated one-bedroom apartment and separate electric meter.
Where is this duplex located?
The property is located at 413 S 51ST Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $699,500.
What are key features of this property?
This property features: Legal duplex with 2,960 SF of building area on a 0.0459‑acre lot; Main residence includes 5 bedrooms and 3.5 baths across three levels; Separate renovated 1‑bedroom, 1‑bath apartment with its own laundry and home office
