Bi-Level Residential Income
For Sale
$299,999
1213 N 15TH STREET Unit A, Philadelphia, PA 19121
Modern condominium residence with private outdoor space, flexible rooms, and convenient in-unit laundry.
Property Size1,214 SF
Days on Market29
Property Features for 1213 N 15TH STREET Unit A
General Information
Standard status
Active
Size
1,214 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$622
Building Details
Building Size
1,214 SF
Year Built
2019
Listing Agency:
KW Empower
Listed By:
Stanley Szczurek III · License #RS351299
(267) 864-6035
Source:
Patmckennarealtors
Added: Aug 12
Changed: Sep 5
Last Checked: Sep 9 at 7:34AM
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 Empower
Investment Insights
Based on property information with market context.
Built in 2019, this bi-level condominium residence combines an open main living area with practical separation between entertaining and private spaces. The home includes 2 bedrooms and 2 full bathrooms, including a primary suite with its own bath and generous closet storage. Hardwood flooring, oversized windows, stainless steel appliances, granite countertops, a center island, and in-unit laundry are among the interior features. A private backyard extends the usable living space outdoors.
The property is located at 1213 N 15th Street in Philadelphia, one block from Fairmount and near the Divine Lorraine, the Met, and Temple University. Girard Station on the Broad Street Line is approximately a 2-minute walk away. The home also has 3.5 years remaining on its tax abatement.
The property is located at 1213 N 15th Street in Philadelphia, one block from Fairmount and near the Divine Lorraine, the Met, and Temple University. Girard Station on the Broad Street Line is approximately a 2-minute walk away. The home also has 3.5 years remaining on its tax abatement.
Key Highlights
- 2‑bedroom, 2‑bathroom bi‑level condominium built in 2019
- Open living and dining area with hardwood floors and oversized windows
- Kitchen with stainless steel appliances, granite countertops, and center island
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
$19,096
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
6.37%
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%
$381,920
$381.9K
Cap Rate 7%
$272,800
$272.8K
Cap Rate 9%
$212,178
$212.2K
Market Conditions
NOI Build-Up for 1,214 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
$36.9K $30.36/SF
− Vacancy
−$2.1K −$1.76/SF
EGI
$34.7K $28.60/SF
− OpEx
−$15.6K −$12.87/SF
NOI
$19.1K $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%
$381,920
Cap Rate 7%
$272,800
Cap Rate 9%
$212,178
Alternative Uses
Best Use
Apartment 5plus
$272.8K
$238.7K – $318.3K
NOI $19,096 @ 7.0% cap · market cap 6.37%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$296.0K
$259.0K – $345.3K
NOI $20,717 @ 7.0% cap · market cap 6.91%
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
2,449
Businesses Nearby
Explore this area
Business Placement
Demographics for 19121, PA
41,799
Population
19,673
Households
2.1
Avg Household Size
28
Median Age
25%
College-Educated
84%
High-School Grad
2.4 sq mi
ZIP Area
17,416
Density / Sq Mi
$36,208
Median Household Income
$29,915
Median Earnings
$1,082
Median Rent
$250,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Modern condominium residence with private outdoor space, flexible rooms, and convenient in-unit laundry.
Where is this residential income property located?
The property is located at 1213 N 15TH STREET Unit A Philadelphia, PA.
What is the asking price?
The asking price for this property is $299,999.
What are key features of this property?
This property features: 2‑bedroom, 2‑bathroom bi‑level condominium built in 2019; Open living and dining area with hardwood floors and oversized windows; Kitchen with stainless steel appliances, granite countertops, and center island
