Residential Income
New
For Sale
$95,000
118 S 21ST STREET Unit 1002, Philadelphia, PA 19103
Cooperative residence with an open layout, full-service building amenities, and a central Rittenhouse Square setting.
Property Size521 SF
Price / SF$182.34
Days on Market6
Property Features for 118 S 21ST STREET Unit 1002
General Information
Standard status
Active
Size
521 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Amenities
24-hour security and doorman
on-site management and maintenance
rooftop garden and sun deck
laundry facilities
bike rooms
guest suite
valet parking available
Building Details
Building Size
521 SF
Year Built
1954
Listing Agency:
KW Main Line - Narberth
Listed By:
Damon C. Michels · License #AB067731
(610) 731-9300
Source:
Patmckennarealtors
Added: Sep 4
Changed: Sep 7
Last Checked: Sep 8 at 11:45AM
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 Main Line - Narberth
Investment Insights
Based on property information with market context.
This cooperative residence at 2101 Cooperative offers 521 square feet with one bedroom, one full bathroom, and an open floor plan. Built in 1954, the unit includes a living area, bedroom, and bathroom and is offered for cash purchase only. Renting is not permitted.
Building services and amenities include 24-hour security, doorman service, on-site management and maintenance, laundry facilities, bike rooms, a guest suite, and a rooftop garden with sun deck and city views. The monthly cooperative fee covers electric, heat, air conditioning, water, basic cable, real estate taxes, and the building maintenance package. The property is located at 21st and Walnut Streets near Rittenhouse Square, Center City restaurants, shopping, cultural attractions, parks, and public transportation.
Building services and amenities include 24-hour security, doorman service, on-site management and maintenance, laundry facilities, bike rooms, a guest suite, and a rooftop garden with sun deck and city views. The monthly cooperative fee covers electric, heat, air conditioning, water, basic cable, real estate taxes, and the building maintenance package. The property is located at 21st and Walnut Streets near Rittenhouse Square, Center City restaurants, shopping, cultural attractions, parks, and public transportation.
Key Highlights
- 521 SF cooperative residence with 1 bedroom and 1 full bathroom
- Open floor plan with separate living area and bedroom
- Built in 1954
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
$8,195
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
8.63%
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%
$163,900
$163.9K
Cap Rate 7%
$117,071
$117.1K
Cap Rate 9%
$91,056
$91.1K
Market Conditions
NOI Build-Up for 521 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
$15.8K $30.36/SF
− Vacancy
−$917 −$1.76/SF
EGI
$14.9K $28.60/SF
− OpEx
−$6.7K −$12.87/SF
NOI
$8.2K $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 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%
$163,900
Cap Rate 7%
$117,071
Cap Rate 9%
$91,056
Alternative Uses
Best Use
Apartment 5plus
$117.1K
$102.4K – $136.6K
NOI $8,195 @ 7.0% cap · market cap 8.63%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$127.0K
$111.1K – $148.2K
NOI $8,891 @ 7.0% cap · market cap 9.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
15,644
Businesses Nearby
Explore this area
Business Placement
Demographics for 19103, PA
28,717
Population
20,064
Households
1.4
Avg Household Size
36
Median Age
81%
College-Educated
98%
High-School Grad
0.6 sq mi
ZIP Area
47,862
Density / Sq Mi
$97,940
Median Household Income
$76,680
Median Earnings
$1,955
Median Rent
$551,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Cooperative residence with an open layout, full-service building amenities, and a central Rittenhouse Square setting.
Where is this residential income property located?
The property is located at 118 S 21ST STREET Unit 1002 Philadelphia, PA.
What is the asking price?
The asking price for this property is $95,000.
What are key features of this property?
This property features: 521 SF cooperative residence with 1 bedroom and 1 full bathroom; Open floor plan with separate living area and bedroom; Built in 1954
