Residential Income Property with
For Sale
$214,900
Pending
1215 N RANDOLPH STREET Unit 2, Philadelphia, PA 19122
Condominium unit with a private rear deck, in-unit laundry, and upgraded kitchen finishes.
Property Size1,067 SF
Days on Market103
Property Features for 1215 N RANDOLPH STREET Unit 2
General Information
Standard status
Pending
Size
1,067 SF
Property subtype
Unit/Flat/Apartment
Building Details
Building Size
1,067 SF
Year Built
1920
Listing Agency:
Compass Pennsylvania, LLC
Listed By:
Cassidee Curran · License #RS337027
(267) 266-0347
Source:
Patmckennarealtors
Added: May 29
Changed: Sep 3
Last Checked: Sep 2 at 9:13PM
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 Compass Pennsylvania, LLC
Investment Insights
Based on property information with market context.
This residential income property is a condominium unit with an open living arrangement, hardwood flooring, recessed lighting, and abundant natural light. The kitchen is equipped with cherry cabinetry, granite work surfaces, stainless steel appliances, and a breakfast bar. Fresh paint and in-unit laundry add practical convenience, while the private rear deck extends the living area outdoors and overlooks mature greenery.
Built in 1920, the property is located in Philadelphia, Pennsylvania, at 1215 N Randolph Street, Unit 2. The building is pet-friendly, and the surrounding area offers access to coffee shops, restaurants, bars, boutiques, and parks. The unit combines interior updates with private outdoor space in a residential city setting.
Built in 1920, the property is located in Philadelphia, Pennsylvania, at 1215 N Randolph Street, Unit 2. The building is pet-friendly, and the surrounding area offers access to coffee shops, restaurants, bars, boutiques, and parks. The unit combines interior updates with private outdoor space in a residential city setting.
Key Highlights
- Private rear deck surrounded by mature greenery
- Kitchen with cherry cabinetry, granite countertops, stainless steel appliances, and breakfast bar
- Open‑concept interior with hardwood floors and recessed lighting
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
$16,783
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
7.81%
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%
$335,660
$335.7K
Cap Rate 7%
$239,757
$239.8K
Cap Rate 9%
$186,478
$186.5K
Market Conditions
NOI Build-Up for 1,067 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
$32.4K $30.36/SF
− Vacancy
−$1.9K −$1.76/SF
EGI
$30.5K $28.60/SF
− OpEx
−$13.7K −$12.87/SF
NOI
$16.8K $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%
$335,660
Cap Rate 7%
$239,757
Cap Rate 9%
$186,478
Alternative Uses
Best Use
Apartment 5plus
$239.8K
$209.8K – $279.7K
NOI $16,783 @ 7.0% cap · market cap 7.81%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$260.1K
$227.6K – $303.5K
NOI $18,208 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,111
Businesses Nearby
Explore this area
Business Placement
Demographics for 19122, PA
26,668
Population
10,139
Households
2.6
Avg Household Size
28
Median Age
42%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
20,514
Density / Sq Mi
$57,785
Median Household Income
$31,871
Median Earnings
$1,294
Median Rent
$341,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium unit with a private rear deck, in-unit laundry, and upgraded kitchen finishes.
Where is this residential income property located?
The property is located at 1215 N RANDOLPH STREET Unit 2 Philadelphia, PA.
What is the asking price?
The asking price for this property is $214,900.
What are key features of this property?
This property features: Private rear deck surrounded by mature greenery; Kitchen with cherry cabinetry, granite countertops, stainless steel appliances, and breakfast bar; Open‑concept interior with hardwood floors and recessed lighting
