Loft Residential Income
For Sale
$292,000
1010 ARCH STREET Unit 513, Philadelphia, PA 19107
Updated two-bedroom condominium with exposed brick, wood beams, high ceilings, and access-controlled building entry.
Property Size830 SF
Days on Market19
Property Features for 1010 ARCH STREET Unit 513
General Information
Standard status
Active
Size
830 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$3,807
Building Details
Building Size
830 SF
Year Built
1900
Listing Agency:
KW Empower
Listed By:
Thomas Groll · License #AB067209
(215) 620-9994
Source:
Patmckennarealtors
Added: Aug 22
Changed: Sep 4
Last Checked: Sep 8 at 12:05PM
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 KW Empower
Investment Insights
Based on property information with market context.
This residential income property is a two-bedroom lofted condominium in a building constructed in 1900. The interior combines an open arrangement with exposed brick, original wood beams, tall ceilings, and oversized windows. Improvements include a renovated kitchen and bathroom, contemporary appliances, updated fixtures, and finishes that retain the building’s historic character. The unit is located at 1010 Arch Street, Unit 513, in Philadelphia’s Center City district.
The property is positioned one block from Reading Terminal Market and Jefferson Station, with access to regional rail, the Market-Frankford Subway lines, city bus service, and the Naval Yard shuttle. Chinatown, the Fashion District, Trader Joe’s, restaurants, cafes, bars, and shops are also nearby. Building services include a concierge desk, electronic FOB entry, package delivery to the unit, 24-7 video monitoring, two elevators, and an app-operated laundry room on each floor. The condominium association does not permit short-term rentals.
The property is positioned one block from Reading Terminal Market and Jefferson Station, with access to regional rail, the Market-Frankford Subway lines, city bus service, and the Naval Yard shuttle. Chinatown, the Fashion District, Trader Joe’s, restaurants, cafes, bars, and shops are also nearby. Building services include a concierge desk, electronic FOB entry, package delivery to the unit, 24-7 video monitoring, two elevators, and an app-operated laundry room on each floor. The condominium association does not permit short-term rentals.
Key Highlights
- Two‑bedroom lofted condominium at 1010 Arch Street, Unit 513, Philadelphia, PA 19107
- Building constructed in 1900 with exposed brick, original wood beams, tall ceilings, and oversized windows
- Renovated kitchen and bathroom with contemporary appliances and updated fixtures
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
$13,055
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
4.47%
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%
$261,100
$261.1K
Cap Rate 7%
$186,500
$186.5K
Cap Rate 9%
$145,056
$145.1K
Market Conditions
NOI Build-Up for 830 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
$25.2K $30.36/SF
− Vacancy
−$1.5K −$1.76/SF
EGI
$23.7K $28.60/SF
− OpEx
−$10.7K −$12.87/SF
NOI
$13.1K $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%
$261,100
Cap Rate 7%
$186,500
Cap Rate 9%
$145,056
Alternative Uses
Best Use
Apartment 5plus
$186.5K
$163.2K – $217.6K
NOI $13,055 @ 7.0% cap · market cap 4.47%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$202.3K
$177.1K – $236.1K
NOI $14,164 @ 7.0% cap · market cap 4.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
21,329
Businesses Nearby
Explore this area
Business Placement
Demographics for 19107, PA
17,600
Population
10,239
Households
1.7
Avg Household Size
32
Median Age
72%
College-Educated
92%
High-School Grad
0.5 sq mi
ZIP Area
35,200
Density / Sq Mi
$70,382
Median Household Income
$57,694
Median Earnings
$1,691
Median Rent
$452,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated two-bedroom condominium with exposed brick, wood beams, high ceilings, and access-controlled building entry.
Where is this residential income property located?
The property is located at 1010 ARCH STREET Unit 513 Philadelphia, PA.
What is the asking price?
The asking price for this property is $292,000.
What are key features of this property?
This property features: Two‑bedroom lofted condominium at 1010 Arch Street, Unit 513, Philadelphia, PA 19107; Building constructed in 1900 with exposed brick, original wood beams, tall ceilings, and oversized windows; Renovated kitchen and bathroom with contemporary appliances and updated fixtures
