Residential Income
For Sale
$449,900
1219 N 29TH STREET, Philadelphia, PA 19121
Built in 1925 with radiant heat, gas water heating, and window-unit cooling.
Property Size1,920 SF
Days on Market55
Property Features for 1219 N 29TH STREET
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$4,098
Building Details
Building Size
1,920 SF
Year Built
1925
Listing Agency:
KW Empower
Listed By:
Domenick Parris · License #RS321735
(267) 593-6184
Source:
Patmckennarealtors
Added: Jul 30
Changed: Sep 12
Last Checked: Sep 21 at 6:50AM
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.
This residential income property contains 1,920 square feet and dates to 1925. Interior systems include radiant heating, electric window-unit cooling, and a natural gas water heater. The property is identified with CMX2 zoning and includes a unit/flat configuration.
Located at 1219 N 29TH STREET in Philadelphia, Pennsylvania 19121, the property also offers on-street parking. Its address places the asset within Philadelphia County.
Located at 1219 N 29TH STREET in Philadelphia, Pennsylvania 19121, the property also offers on-street parking. Its address places the asset within Philadelphia County.
Key Highlights
- 1,920‑square‑foot residential income property
- Built in 1925
- CMX2 zoning designation
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
$30,201
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
6.71%
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%
$604,020
$604.0K
Cap Rate 7%
$431,443
$431.4K
Cap Rate 9%
$335,567
$335.6K
Market Conditions
NOI Build-Up for 1,920 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
$58.3K $30.36/SF
− Vacancy
−$3.4K −$1.76/SF
EGI
$54.9K $28.60/SF
− OpEx
−$24.7K −$12.87/SF
NOI
$30.2K $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%
$604,020
Cap Rate 7%
$431,443
Cap Rate 9%
$335,567
Alternative Uses
Best Use
Apartment 5plus
$431.4K
$377.5K – $503.4K
NOI $30,201 @ 7.0% cap · market cap 6.71%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$468.1K
$409.6K – $546.1K
NOI $32,765 @ 7.0% cap · market cap 7.28%
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
1,534
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 - Built in 1925 with radiant heat, gas water heating, and window-unit cooling.
Where is this residential income property located?
The property is located at 1219 N 29TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: 1,920‑square‑foot residential income property; Built in 1925; CMX2 zoning designation
