Two-Unit Duplex with Finished
For Sale
$450,000
1003 Red Lion Rd, Philadelphia, PA 19115
Residential income property with separate living spaces, flexible occupancy options, and a lower level for utilities and storage.
Property Size1,860 SF
Price / SF$241.94
Days on Market68
Property Features for 1003 Red Lion Rd
General Information
Standard status
Active
Size
1,860 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Asking Price
$450,000
Building Details
Year Built
1987
Buildings
1
Listing Agency:
J G McSherry LLC
Listed By:
Catheleen A Lazauskas · License #RS326077
(267) 908-1804
Source:
Upgradebymichaud
Added: Aug 16
Changed: Oct 5
Last Checked: Oct 20 at 10:36PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of J G McSherry LLC
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Investment Insights
Based on property information with market context.
This 1987 duplex contains two separate 2-bedroom, 1-bath units with matching functional layouts. Each residence includes a generously sized living room, dedicated dining area, kitchen, bedrooms, closets, and large windows. The second-floor unit has been freshly painted and includes vinyl plank flooring plus updated bathroom finishes. A lower level provides additional utility and storage space.
The first-floor residence is tenant-occupied, while the second-floor unit is available for occupancy. The property supports separate residential use across both units, with flexibility for an owner occupant or leasing arrangement. Located at 1003 Red Lion Road in Northeast Philadelphia’s 19115 section, the duplex is near shopping, dining, transportation, and major roadways.
The first-floor residence is tenant-occupied, while the second-floor unit is available for occupancy. The property supports separate residential use across both units, with flexibility for an owner occupant or leasing arrangement. Located at 1003 Red Lion Road in Northeast Philadelphia’s 19115 section, the duplex is near shopping, dining, transportation, and major roadways.
Key Highlights
- Two 2‑bedroom, 1‑bath units with separate living spaces
- 1987 construction with two similar residential floor plans
- Second‑floor unit freshly painted with vinyl plank flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,741
Cap Rate
7.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$634,820
$634.8K
Cap Rate 7%
$453,443
$453.4K
Cap Rate 9%
$352,678
$352.7K
Market Conditions
NOI Build-Up for 1,860 SF
Gross rent
$48.0K $25.80/SF
− Vacancy
−$2.6K −$1.42/SF
EGI
$45.3K $24.38/SF
− OpEx
−$13.6K −$7.31/SF
NOI
$31.7K $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 Rate 5%
$634,820
Cap Rate 7%
$453,443
Cap Rate 9%
$352,678
Alternative Uses
Best Use
Multifamily LT 5
$453.4K
$396.8K – $529.0K
NOI $31,741 @ 7.0% cap · market cap 7.05%
Second Best
Apartment 5plus
$418.0K
$365.7K – $487.6K
NOI $29,257 @ 7.0% cap · market cap 6.50%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,198
Businesses Nearby
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Business Placement
Demographics for 19115, PA
35,919
Population
15,071
Households
2.4
Avg Household Size
44
Median Age
37%
College-Educated
92%
High-School Grad
5.2 sq mi
ZIP Area
6,908
Density / Sq Mi
$70,388
Median Household Income
$48,949
Median Earnings
$1,230
Median Rent
$330,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Residential income property with separate living spaces, flexible occupancy options, and a lower level for utilities and storage.
Where is this duplex located?
The property is located at 1003 Red Lion Rd Philadelphia, PA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units with separate living spaces; 1987 construction with two similar residential floor plans; Second‑floor unit freshly painted with vinyl plank flooring
