Victorian Multifamily Home in
For Sale
Under Contract
$374,900
828 S 49TH Street, Philadelphia, PA 19143
Multi-Family, PHILADELPHIA, PA
Property Size3,240 SF
Lot Size0.06 Acres
Price / SF$115.71
Days on Market388
Property Features for 828 S 49TH Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Special listing conditions
In Foreclosure
Standard status
Active Under Contract
Size
3,240 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
5033
Utilities
Heating system
Forced Air
Cooling system
Window Unit(s)
Building Details
Year built
1917
Number of units
2
Building materials
Masonry
Listing Agency:
EXP Realty, LLC
(888) 397-7352
Listed By:
Adam Kiliszek · License #RS337117
(570) 807-6238
Added: Aug 6, 2025
Changed: Aug 19
Last Checked: Aug 28 at 7:06PM
MLS# PAPH2524986
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.
Located in University City, Philadelphia, this over 3,000 square foot, two-family twin semi-detached home presents an investment opportunity. The property, built over 100 years ago, retains its Victorian charm and original features. The first-floor unit includes 2 bedrooms and 1 bathroom. The second-floor unit features 3 bedrooms and 3 full bathrooms, with access to an attic that includes a skylight. A finished basement offers additional space. Each unit has separate utilities. The property includes a secluded backyard and a front porch. The location provides access to universities, restaurants, shopping, and public transportation. The property is situated on a lot of 0.0574 acres.
Key Highlights
- Prime University City location near universities, restaurants, shopping, and public transportation.
- Two‑family property with potential for rental income from two separate units.
- Over 3,000 sq ft of living space with a 2‑bedroom, 1‑bathroom first‑floor unit and a 3‑bedroom, 3‑bathroom second‑floor unit.
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
$31,219
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
8.33%
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%
$624,380
$624.4K
Cap Rate 7%
$445,986
$446.0K
Cap Rate 9%
$346,878
$346.9K
Market Conditions
NOI Build-Up for 3,240 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
$61.4K $18.96/SF
− Vacancy
−$4.7K −$1.44/SF
EGI
$56.8K $17.52/SF
− OpEx
−$25.5K −$7.88/SF
NOI
$31.2K $9.64/SF
Area
ZIP 19143
Vacancy
7.60%
Lease Rate
$18.96 /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%
$624,380
Cap Rate 7%
$445,986
Cap Rate 9%
$346,878
Alternative Uses
Best Use
Multifamily LT 5
$501.4K
$438.7K – $585.0K
NOI $35,099 @ 7.0% cap · market cap 9.36%
Second Best
Apartment 5plus
$446.0K
$390.2K – $520.3K
NOI $31,219 @ 7.0% cap · market cap 8.33%
Theoretical Best
Office A
$1.11M
$971.7K – $1.30M
NOI $77,735 @ 7.0% cap · market cap 20.73%
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
1,953
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family home in University City with restoration potential.
Where is this duplex located?
The property is located at 828 S 49TH Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $374,900.
What are key features of this property?
This property features: Prime University City location near universities, restaurants, shopping, and public transportation.; Two‑family property with potential for rental income from two separate units.; Over 3,000 sq ft of living space with a 2‑bedroom, 1‑bathroom first‑floor unit and a 3‑bedroom, 3‑bathroom second‑floor unit.
