Residential Income Property with
New
For Sale
$329,900
12021 BUSTLETON AVENUE Unit 102, Philadelphia, PA 19116
Second-floor condominium with a loft, private rooftop deck, sauna, and two full bathrooms.
Property Size1,718 SF
Days on Market6
Property Features for 12021 BUSTLETON AVENUE Unit 102
General Information
Standard status
Active
Size
1,718 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$3,621
Building Details
Building Size
1,718 SF
Year Built
1981
Listing Agency:
RE/MAX Centre Realtors
Listed By:
Lazaros Karasavas · License #292278
(267) 939-0452
Source:
Lizclarkrealestate
Added: Sep 16
Changed: Sep 19
Last Checked: Sep 20 at 10:36AM
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 RE/MAX Centre Realtors
Investment Insights
Based on property information with market context.
This second-floor condominium includes more than 1,700 square feet of living space and a flexible two-level layout. The main floor features a living room with a floor-to-ceiling bay window, an adjoining dining area and kitchen, two bedrooms, and a bathroom with a stand-up shower and oversized jacuzzi tub. The upper-level loft adds cathedral ceilings, a full bathroom, a sauna, storage, and direct access to a private rooftop deck.
Built in 1981, the property is located in Philadelphia’s Somerton section within the Bustleton Condominiums. Shopping, schools, and public transportation are nearby, adding practical convenience to the residential setting.
Built in 1981, the property is located in Philadelphia’s Somerton section within the Bustleton Condominiums. Shopping, schools, and public transportation are nearby, adding practical convenience to the residential setting.
Key Highlights
- More than 1,700 square feet of living space
- Two‑bedroom, two‑level condominium layout
- Private rooftop deck accessed from the loft
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
$27,023
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
8.19%
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%
$540,460
$540.5K
Cap Rate 7%
$386,043
$386.0K
Cap Rate 9%
$300,256
$300.3K
Market Conditions
NOI Build-Up for 1,718 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
$52.2K $30.36/SF
− Vacancy
−$3.0K −$1.76/SF
EGI
$49.1K $28.60/SF
− OpEx
−$22.1K −$12.87/SF
NOI
$27.0K $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%
$540,460
Cap Rate 7%
$386,043
Cap Rate 9%
$300,256
Alternative Uses
Best Use
Apartment 5plus
$386.0K
$337.8K – $450.4K
NOI $27,023 @ 7.0% cap · market cap 8.19%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$418.8K
$366.5K – $488.6K
NOI $29,317 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
653
Businesses Nearby
Explore this area
Business Placement
Demographics for 19116, PA
35,610
Population
14,166
Households
2.5
Avg Household Size
43
Median Age
36%
College-Educated
90%
High-School Grad
5.2 sq mi
ZIP Area
6,848
Density / Sq Mi
$67,558
Median Household Income
$43,817
Median Earnings
$1,214
Median Rent
$321,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Second-floor condominium with a loft, private rooftop deck, sauna, and two full bathrooms.
Where is this residential income property located?
The property is located at 12021 BUSTLETON AVENUE Unit 102 Philadelphia, PA.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: More than 1,700 square feet of living space; Two‑bedroom, two‑level condominium layout; Private rooftop deck accessed from the loft
