Student Rental Single-Family
For Sale
$600,000
416 N 31ST STREET, Philadelphia, PA 19104
SINGLE_FAMILY - PHILADELPHIA, PA
Property Size1,350 SF
Price / SF$444.44
Days on Market147
Property Features for 416 N 31ST STREET
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 6, Bedroom 5, Bedroom 1, Bedroom 2, Bedroom 4, Bedroom 3
Subdivision
POWELTON VILLAGE
Standard status
Active
Size
1,350 SF
Building Details
Year built
1920
Listing Agency:
BHHS Fox & Roach Center City-Society Hill · Berkshire Hathaway HomeServices
(215) 627-6005
Listed By:
Frank DeFazio
(610) 636-4364
Added: Mar 18
Changed: Aug 2
Last Checked: Aug 11 at 10:06PM
MLS# PAPH2595382
Copyright © 2026 Berkshire Hathaway HomeServices Fox & Roach, Realtors. 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 single-family rental property is configured as a student-friendly layout with six bedrooms and two full bathrooms. The home includes shared living areas and a full kitchen. It is currently fully leased through August 31, 2026, providing $4,600 per month in scheduled rent.
Located in Powelton Village near Drexel University and the University of Pennsylvania, the property also benefits from nearby public transportation and neighborhood amenities. Public remarks note a 100% occupancy history with no meaningful vacancy history.
According to the listing, the property’s operating profile includes low operating expenses, low property taxes, and low insurance costs. The annual gross rent is reported as $55,200, and the asking price is $600,000.
Located in Powelton Village near Drexel University and the University of Pennsylvania, the property also benefits from nearby public transportation and neighborhood amenities. Public remarks note a 100% occupancy history with no meaningful vacancy history.
According to the listing, the property’s operating profile includes low operating expenses, low property taxes, and low insurance costs. The annual gross rent is reported as $55,200, and the asking price is $600,000.
Key Highlights
- 6‑bedroom, 2‑bath student rental at 416 N 31st Street, built in 1920
- Currently fully leased through August 31, 2026 at $4,600/month
- Annual gross rent of $55,200
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
$21,235
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
3.54%
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%
$424,700
$424.7K
Cap Rate 7%
$303,357
$303.4K
Cap Rate 9%
$235,944
$235.9K
Market Conditions
NOI Build-Up for 1,350 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
$41.0K $30.36/SF
− Vacancy
−$2.4K −$1.76/SF
EGI
$38.6K $28.60/SF
− OpEx
−$17.4K −$12.87/SF
NOI
$21.2K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$424,700
Cap Rate 7%
$303,357
Cap Rate 9%
$235,944
Alternative Uses
Best Use
Apartment 5plus
$303.4K
$265.4K – $353.9K
NOI $21,235 @ 7.0% cap · market cap 3.54%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$329.1K
$288.0K – $384.0K
NOI $23,038 @ 7.0% cap · market cap 3.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
4,421
Businesses Nearby
Explore this area
Business Placement
Demographics for 19104, PA
56,839
Population
23,888
Households
2.4
Avg Household Size
26
Median Age
47%
College-Educated
90%
High-School Grad
3.1 sq mi
ZIP Area
18,335
Density / Sq Mi
$39,526
Median Household Income
$18,420
Median Earnings
$1,329
Median Rent
$268,200
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Single family property - Fully leased 6-bedroom, 2-bath home generating $4,600 per month through August 31, 2026.
Where is this single family property located?
The property is located at 416 N 31ST STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 6‑bedroom, 2‑bath student rental at 416 N 31st Street, built in 1920; Currently fully leased through August 31, 2026 at $4,600/month; Annual gross rent of $55,200
