Philadelphia Bi-Level Two-Bedroom
For Sale
$549,000
1136 N 4TH Street, Philadelphia, PA 19123
MULTI_FAMILY - Other - PHILADELPHIA, PA
Property Size1,802 SF
Lot Size0.03 Acres
Price / SF$304.66
Days on Market1405
Property Features for 1136 N 4TH Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
On Street
Subdivision
NORTHERN LIBERTIES
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Standard status
Active
Size
1,802 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
4724
Utilities
Heating system
Hot Water(Heating)
Cooling system
Central Air
Building Details
Year built
1920
Number of units
2
Building materials
Brick
Architectural style
Other
Listing Agency:
Fred R Levine Real Estate
(215) 465-3733
Listed By:
Fred R Levine · License #RB043558A
(215) 465-3733
Added: Oct 9, 2022
Changed: Jun 9
Last Checked: Aug 13 at 1:06AM
MLS# PAPH2168118
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This property features two bi-level units, each containing two bedrooms. Located in Northern Liberties, Philadelphia, the property is being sold with existing tenants. Unit A is currently rented for $1300 per month, with the lease ending on February 28, 2026. Unit B is rented for $1400 per month, with its lease expiring on November 30, 2025. The property size is 1802 square feet and the lot size is 0.0262 acres.
Key Highlights
- Two bi‑level two bedroom units in Northern Liberties.
- Tenant occupied property providing immediate rental income.
- Unit B lease ends 11/30/25, rented for $1400/month.
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
$30,751
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
5.60%
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%
$615,020
$615.0K
Cap Rate 7%
$439,300
$439.3K
Cap Rate 9%
$341,678
$341.7K
Market Conditions
NOI Build-Up for 1,802 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
$46.5K $25.80/SF
− Vacancy
−$2.6K −$1.42/SF
EGI
$43.9K $24.38/SF
− OpEx
−$13.2K −$7.31/SF
NOI
$30.8K $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%
$615,020
Cap Rate 7%
$439,300
Cap Rate 9%
$341,678
Alternative Uses
Best Use
Multifamily LT 5
$439.3K
$384.4K – $512.5K
NOI $30,751 @ 7.0% cap · market cap 5.60%
Second Best
Apartment 5plus
$404.9K
$354.3K – $472.4K
NOI $28,345 @ 7.0% cap · market cap 5.16%
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
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,393
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Tenant-occupied duplex in Northern Liberties with existing leases.
Where is this duplex located?
The property is located at 1136 N 4TH Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Two bi‑level two bedroom units in Northern Liberties.; Tenant occupied property providing immediate rental income.; Unit B lease ends 11/30/25, rented for $1400/month.
