Two-Unit Duplex with Finished
For Sale
$450,000
Pending
1003 RED LION ROAD, 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
Days on Market25
Property Features for 1003 RED LION ROAD
General Information
Standard status
Pending
Size
1,860 SF
Property subtype
Duplex
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
(215) 745-4200
Listed By:
Catheleen A Lazauskas · License #RS326077
(267) 908-1804
Source:
Cummingsrealtors
Added: Aug 14
Changed: Aug 31
Last Checked: Aug 28 at 11:21AM
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
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 = 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
$31,741
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
7.05%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,198
Businesses Nearby
Explore this area
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
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 - 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 ROAD 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
