Renovated Duplex with Separate
For Sale
$299,000
Pending
1220 West Airdrie Street, Philadelphia, PA 19140
Two independent residences feature updated interiors, private outdoor space, and separate utility service.
Property Size1,664 SF
Days on Market120
Property Features for 1220 West Airdrie Street
General Information
Standard status
Pending
Size
1,664 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RM1
Units
Unit Mix
1 x 3BR, 1 x 2BR/2BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$1,851
Amenities
washer/dryer
private yard
basement
No
Washer/Dryer Stacked, Refrigerator, Oven/Range - Electric, Microwave
No Pool
Building Details
Year Built
1940
Year Renovated
2026
Buildings
1
Listing Agency:
City & Suburban Real Estate
(215) 498-6512
Listed By:
Stefan H Schecter · License #RS361135
(215) 498-6512
Source:
Compass
Added: May 4
Changed: Aug 30
Last Checked: Aug 30 at 10:33PM
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 City & Suburban Real Estate
Investment Insights
Based on property information with market context.
Renovated in 2026, this duplex contains two distinct residences with bright, open interiors and contemporary finishes. One unit offers three bedrooms, a private yard, and basement storage; the other includes two bedrooms and two full bathrooms. Both residences have separate utilities, new appliances, and stacked high-efficiency washer and dryer units.
The property is located in Philadelphia’s 19140 area and falls within RM1 zoning. Built in 1940, it provides a two-unit configuration suited to an owner-occupant arrangement or continued residential leasing. Included appliances consist of refrigerators, electric oven/ranges, microwaves, and stacked laundry equipment.
The property is located in Philadelphia’s 19140 area and falls within RM1 zoning. Built in 1940, it provides a two-unit configuration suited to an owner-occupant arrangement or continued residential leasing. Included appliances consist of refrigerators, electric oven/ranges, microwaves, and stacked laundry equipment.
Key Highlights
- Two‑unit duplex renovated in 2026
- One 3‑bedroom unit with private yard and basement storage
- Second unit includes 2 bedrooms and 2 full bathrooms
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
$26,174
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
8.75%
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%
$523,480
$523.5K
Cap Rate 7%
$373,914
$373.9K
Cap Rate 9%
$290,822
$290.8K
Market Conditions
NOI Build-Up for 1,664 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
$50.5K $30.36/SF
− Vacancy
−$2.9K −$1.76/SF
EGI
$47.6K $28.60/SF
− OpEx
−$21.4K −$12.87/SF
NOI
$26.2K $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%
$523,480
Cap Rate 7%
$373,914
Cap Rate 9%
$290,822
Alternative Uses
Best Use
Multifamily LT 5
$405.7K
$355.0K – $473.3K
NOI $28,396 @ 7.0% cap · market cap 9.50%
Second Best
Apartment 5plus
$373.9K
$327.2K – $436.2K
NOI $26,174 @ 7.0% cap · market cap 8.75%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,494
Businesses Nearby
Explore this area
Business Placement
Demographics for 19140, PA
52,124
Population
23,104
Households
2.3
Avg Household Size
36
Median Age
9%
College-Educated
73%
High-School Grad
3.2 sq mi
ZIP Area
16,289
Density / Sq Mi
$33,149
Median Household Income
$31,508
Median Earnings
$1,085
Median Rent
$101,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two independent residences feature updated interiors, private outdoor space, and separate utility service.
Where is this duplex located?
The property is located at 1220 West Airdrie Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two‑unit duplex renovated in 2026; One 3‑bedroom unit with private yard and basement storage; Second unit includes 2 bedrooms and 2 full bathrooms
