Turnkey Duplex with Private
For Sale
$360,000
5040 MARKET Street, Philadelphia, PA 19139
MULTI_FAMILY - Victorian - PHILADELPHIA, PA
Property Size1,650 SF
Lot Size0.05 Acres
Price / SF$218.18
Days on Market151
Property Features for 5040 MARKET Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
On Street
Appliances
Dryer, Dishwasher, Microwave
Subdivision
WALNUT HILL
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Standard status
Active
Size
1,650 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
839
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1925
Number of units
2
Building materials
Masonry
Architectural style
Victorian
Listing Agency:
EXP Realty, LLC
(888) 397-7352
Listed By:
Deidre M Quinn · License #RS276819
(267) 225-3678
Added: Mar 18
Changed: Jul 20
Last Checked: Aug 15 at 1:06AM
MLS# PAPH2595878
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 turnkey, fully renovated legal duplex offers two separate residential units with private entrances. Each unit is configured with 2 bedrooms and 2 full baths, and both include in-unit washer and dryer, central air, and forced heat. The first-floor unit also provides access to a rear patio and is currently available. The second-floor unit is leased through PHA and has a term running through May 31, 2027.
The property is located at 5040 MARKET Street in Philadelphia, PA 19139. In addition to a welcoming front porch, the duplex includes separate rear basement access that supports convenient owner storage without interfering with tenant use.
Overall, the building is set up for either owner-occupancy in the first-floor unit or continued rental income from the second-floor unit, with both units designed for day-to-day comfort through central air, forced heat, and in-unit laundry.
The property is located at 5040 MARKET Street in Philadelphia, PA 19139. In addition to a welcoming front porch, the duplex includes separate rear basement access that supports convenient owner storage without interfering with tenant use.
Overall, the building is set up for either owner-occupancy in the first-floor unit or continued rental income from the second-floor unit, with both units designed for day-to-day comfort through central air, forced heat, and in-unit laundry.
Key Highlights
- Fully renovated legal duplex (Victorian) built in 1925 with masonry construction
- Each unit has 2 bedrooms and 2 full baths, plus private, separate entrances
- Second‑floor unit is leased through PHA at $1,343/month through May 31, 2027
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
$28,157
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
7.82%
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%
$563,140
$563.1K
Cap Rate 7%
$402,243
$402.2K
Cap Rate 9%
$312,856
$312.9K
Market Conditions
NOI Build-Up for 1,650 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
$42.6K $25.80/SF
− Vacancy
−$2.3K −$1.42/SF
EGI
$40.2K $24.38/SF
− OpEx
−$12.1K −$7.31/SF
NOI
$28.2K $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%
$563,140
Cap Rate 7%
$402,243
Cap Rate 9%
$312,856
Alternative Uses
Best Use
Multifamily LT 5
$402.2K
$352.0K – $469.3K
NOI $28,157 @ 7.0% cap · market cap 7.82%
Second Best
Apartment 5plus
$370.8K
$324.4K – $432.6K
NOI $25,954 @ 7.0% cap · market cap 7.21%
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
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,240
Businesses Nearby
Explore this area
Business Placement
Demographics for 19139, PA
43,281
Population
23,896
Households
1.8
Avg Household Size
36
Median Age
22%
College-Educated
86%
High-School Grad
1.8 sq mi
ZIP Area
24,045
Density / Sq Mi
$38,701
Median Household Income
$34,796
Median Earnings
$1,110
Median Rent
$118,700
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 - Fully renovated duplex with two 2-bedroom, 2-bath units, private entrances, in-unit laundry, and separate basement access.
Where is this duplex located?
The property is located at 5040 MARKET Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Fully renovated legal duplex (Victorian) built in 1925 with masonry construction; Each unit has 2 bedrooms and 2 full baths, plus private, separate entrances; Second‑floor unit is leased through PHA at $1,343/month through May 31, 2027
