Modern Duplex
New
For Sale
$799,999
1106 WALLACE ST, Philadelphia, PA 19123
Two-unit property with private outdoor areas, in-unit laundry, and flexible live-or-rent potential.
Property Size2,124 SF
Price / SF$376.65
Days on Market2
Property Features for 1106 WALLACE ST
General Information
Standard status
Active
Size
2,124 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/2.5BA, 1 x 3BR/3.5BA
Multifamily Units
2
Amenities
in-unit washer and dryer
Building Details
Year Built
2014
Buildings
1
Listing Agency:
Realty Mark Associates - KOP
(215) 376-4444
Listed By:
LIN LIN DONG · License #RS345597
(215) 834-8897
Source:
Opal-realestate
Added: Sep 4
Changed: Sep 5
Last Checked: Sep 4 at 3:10PM
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 Realty Mark Associates - KOP
Investment Insights
Based on property information with market context.
Built in 2014, this 2,124-square-foot duplex includes two distinct residential units with contemporary finishes and in-unit washer and dryer connections. Unit A offers 2 bedrooms, 2.5 bathrooms, and a private backyard. Unit B provides 3 bedrooms, 3.5 bathrooms, and its own rooftop terrace. The property is configured for separate occupancy, allowing an owner to use one residence while leasing the other, subject to applicable leasing terms. Located at 1106 Wallace St in Philadelphia, PA 19123, the building combines a two-unit layout with private outdoor amenities and a larger upper residence.
Key Highlights
- 2,124‑square‑foot duplex building
- Built in 2014
- Unit A includes 2 bedrooms and 2.5 bathrooms
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
$36,246
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
4.53%
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%
$724,920
$724.9K
Cap Rate 7%
$517,800
$517.8K
Cap Rate 9%
$402,733
$402.7K
Market Conditions
NOI Build-Up for 2,124 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
$54.8K $25.80/SF
− Vacancy
−$3.0K −$1.42/SF
EGI
$51.8K $24.38/SF
− OpEx
−$15.5K −$7.31/SF
NOI
$36.2K $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%
$724,920
Cap Rate 7%
$517,800
Cap Rate 9%
$402,733
Alternative Uses
Best Use
Multifamily LT 5
$517.8K
$453.1K – $604.1K
NOI $36,246 @ 7.0% cap · market cap 4.53%
Second Best
Apartment 5plus
$477.3K
$417.6K – $556.8K
NOI $33,409 @ 7.0% cap · market cap 4.18%
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
4,152
Businesses Nearby
Explore this area
Business Placement
Demographics for 19123, PA
18,793
Population
10,636
Households
1.8
Avg Household Size
33
Median Age
66%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
14,456
Density / Sq Mi
$95,872
Median Household Income
$73,760
Median Earnings
$1,687
Median Rent
$544,700
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-unit property with private outdoor areas, in-unit laundry, and flexible live-or-rent potential.
Where is this duplex located?
The property is located at 1106 WALLACE ST Philadelphia, PA.
What is the asking price?
The asking price for this property is $799,999.
What are key features of this property?
This property features: 2,124‑square‑foot duplex building; Built in 2014; Unit A includes 2 bedrooms and 2.5 bathrooms
