Two-Bedroom Residential Income
New
For Sale
$599,999
1116 BODINE STREET Unit B, Philadelphia, PA 19123
Detached condo with a private roof deck, open living areas, and central HVAC in a walkable urban setting.
Property Size1,710 SF
Days on Market4
Property Features for 1116 BODINE STREET Unit B
General Information
Standard status
Active
Size
1,710 SF
Property subtype
Penthouse Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,150
Amenities
roof deck
Building Details
Building Size
1,710 SF
Year Built
2011
Listing Agency:
Coldwell Banker Realty
Listed By:
Keith M Stallone · License #RS326084
(267) 606-8502
Source:
Patmckennarealtors
Added: Sep 17
Changed: Sep 19
Last Checked: Sep 20 at 11:58AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 2-bedroom, 2-bathroom detached condominium offers over 1,700 square feet of living space with an open layout, 9-foot-plus ceilings, hardwood flooring, and custom interior finishes. The kitchen includes stainless steel appliances, tailored cabinetry, quartz counters, and a waterfall island. The primary suite has a walk-in closet and ensuite bath with a glass shower, dual vanities, and marble tile. A second bedroom connects to a Jack-and-Jill bathroom with dual vanities, marble finishes, and a soaking tub.
A private roof deck provides skyline views, while the residence also features central HVAC and one-floor living. The property was built in 2011 and carries an active tax abatement. It is positioned on a quiet, low-traffic block near the dining, shopping, and nightlife of Northern Liberties and Fishtown in Philadelphia.
A private roof deck provides skyline views, while the residence also features central HVAC and one-floor living. The property was built in 2011 and carries an active tax abatement. It is positioned on a quiet, low-traffic block near the dining, shopping, and nightlife of Northern Liberties and Fishtown in Philadelphia.
Key Highlights
- 2‑bedroom, 2‑bathroom detached condo with over 1,700 square feet
- Private roof deck with skyline views
- 9‑foot‑plus ceilings, hardwood flooring, and custom interior finishes
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
$26,897
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
4.48%
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%
$537,940
$537.9K
Cap Rate 7%
$384,243
$384.2K
Cap Rate 9%
$298,856
$298.9K
Market Conditions
NOI Build-Up for 1,710 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
$51.9K $30.36/SF
− Vacancy
−$3.0K −$1.76/SF
EGI
$48.9K $28.60/SF
− OpEx
−$22.0K −$12.87/SF
NOI
$26.9K $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%
$537,940
Cap Rate 7%
$384,243
Cap Rate 9%
$298,856
Alternative Uses
Best Use
Apartment 5plus
$384.2K
$336.2K – $448.3K
NOI $26,897 @ 7.0% cap · market cap 4.48%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$416.9K
$364.8K – $486.4K
NOI $29,181 @ 7.0% cap · market cap 4.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,598
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Detached condo with a private roof deck, open living areas, and central HVAC in a walkable urban setting.
Where is this residential income property located?
The property is located at 1116 BODINE STREET Unit B Philadelphia, PA.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: 2‑bedroom, 2‑bathroom detached condo with over 1,700 square feet; Private roof deck with skyline views; 9‑foot‑plus ceilings, hardwood flooring, and custom interior finishes
