Two-Bedroom Residential
For Sale
$450,000
1022 S 2ND STREET Unit 7, Philadelphia, PA 19147
Private entry, two full bathrooms, and a shared courtyard distinguish this two-level home.
Property Size1,411 SF
Price / SF$318.92
Days on Market306
Property Features for 1022 S 2ND STREET Unit 7
General Information
Standard status
Active
Size
1,411 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Kensington
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Furnished
No
Taxes and HOA fees
Annual Taxes
$782
Amenities
common courtyard
Building Details
Building Size
1,411 SF
Year Built
2018
Listing Agency:
Keller Williams Realty
Listed By:
Desantis Real Estate Team · License #342628
(267) 625-7016
Source:
Desantis-realestate
Added: Dec 30, 2025
Changed: Oct 26
Last Checked: Oct 31 at 1:23PM
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 Keller Williams Realty
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Investment Insights
Based on property information with market context.
This two-bedroom, two-bathroom condo offers 1,411 square feet across a two-level layout and was built in 2018. A private entrance opens to a living area and dining nook, followed by an open kitchen with stainless steel appliances, a gas range, pantry storage, and custom pull-out cabinetry. Both bedrooms are downstairs and have double-door closets; one also has a tray ceiling. The bathrooms are configured separately, with a tub and shower in one and a walk-in shower in the other. A shared courtyard provides an outdoor common area.
The home is in Queen Village, near Jefferson Square and the Shot Tower Recreation Center. South Street is a 12-minute walk away, while Broad Street and Spruce Street Harbor Park are within a 10-minute drive. Nearby dining and retail include Royal Izakaya, Philadelphia Java Company, and The Palm Tree Market.
The home is in Queen Village, near Jefferson Square and the Shot Tower Recreation Center. South Street is a 12-minute walk away, while Broad Street and Spruce Street Harbor Park are within a 10-minute drive. Nearby dining and retail include Royal Izakaya, Philadelphia Java Company, and The Palm Tree Market.
Key Highlights
- Two‑bedroom, two‑bathroom condo with 1,411 square feet
- Built in 2018
- Private entrance and shared courtyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,194
Cap Rate
4.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$443,880
$443.9K
Cap Rate 7%
$317,057
$317.1K
Cap Rate 9%
$246,600
$246.6K
Market Conditions
NOI Build-Up for 1,411 SF
Gross rent
$42.8K $30.36/SF
− Vacancy
−$2.5K −$1.76/SF
EGI
$40.4K $28.60/SF
− OpEx
−$18.2K −$12.87/SF
NOI
$22.2K $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 Rate 5%
$443,880
Cap Rate 7%
$317,057
Cap Rate 9%
$246,600
Alternative Uses
Best Use
Apartment 5plus
$317.1K
$277.4K – $369.9K
NOI $22,194 @ 7.0% cap · market cap 4.93%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$344.0K
$301.0K – $401.3K
NOI $24,079 @ 7.0% cap · market cap 5.35%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,610
Businesses Nearby
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Business Placement
Demographics for 19147, PA
41,096
Population
20,735
Households
2
Avg Household Size
36
Median Age
69%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
31,612
Density / Sq Mi
$104,190
Median Household Income
$71,905
Median Earnings
$1,679
Median Rent
$524,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Private entry, two full bathrooms, and a shared courtyard distinguish this two-level home.
Where is this residential income property located?
The property is located at 1022 S 2ND STREET Unit 7 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‑bedroom, two‑bathroom condo with 1,411 square feet; Built in 2018; Private entrance and shared courtyard
