Renovated Duplex with In-Unit
For Sale
$345,000
Pending
1234 North 55th Street, Philadelphia, PA 19131
Totally renovated duplex with separate HVAC and in-unit laundry, offering two apartments with updated kitchens and baths.
Property Size1,889 SF
Days on Market64
Property Features for 1234 North 55th Street
General Information
Standard status
Pending
Size
1,889 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RM1
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,630
Amenities
No
https://my.matterport.com/show/?m=bVh8PMUpYkZ
No Pool
Building Details
Year Built
1915
Listing Agency:
Compass
Listed By:
Eric Prine · License #RS345304
(267) 768-4404
Source:
Compass
Added: Jul 8
Changed: Aug 8
Last Checked: Jul 24 at 1:40PM
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
Investment Insights
Based on property information with market context.
A totally gut renovated duplex offering two distinct, updated residences. Unit 1 features 2 bedrooms and 1 full bathroom. Unit 2 features 4 bedrooms and 2 full bathrooms. Both units have been renovated with modern finishes, including new kitchens and bathrooms, contemporary flooring, and new mechanical systems.
The property includes separate HVAC and in-unit laundry for each unit. It has been inspected by the PHA and certified “Excellent.”
The building is positioned in a Group 3 PHA zip code, and the listing notes payment standard rents of $2010 for 2-bedroom units and $2690 for 4-bedroom units. Located in Philadelphia near public transportation, shopping, schools, parks, and major commuter routes, the duplex offers straightforward access to everyday needs.
The property includes separate HVAC and in-unit laundry for each unit. It has been inspected by the PHA and certified “Excellent.”
The building is positioned in a Group 3 PHA zip code, and the listing notes payment standard rents of $2010 for 2-bedroom units and $2690 for 4-bedroom units. Located in Philadelphia near public transportation, shopping, schools, parks, and major commuter routes, the duplex offers straightforward access to everyday needs.
Key Highlights
- Totally gut renovated duplex built in 1915 in Carroll Park
- Two apartments: Unit 1 has 2 bedrooms and 1 full bath; Unit 2 has 4 bedrooms and 2 full baths
- Separate HVAC for each unit plus in‑unit laundry in both apartments
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
$29,713
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
8.61%
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%
$594,260
$594.3K
Cap Rate 7%
$424,471
$424.5K
Cap Rate 9%
$330,144
$330.1K
Market Conditions
NOI Build-Up for 1,889 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
$57.4K $30.36/SF
− Vacancy
−$3.3K −$1.76/SF
EGI
$54.0K $28.60/SF
− OpEx
−$24.3K −$12.87/SF
NOI
$29.7K $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%
$594,260
Cap Rate 7%
$424,471
Cap Rate 9%
$330,144
Alternative Uses
Best Use
Multifamily LT 5
$460.5K
$403.0K – $537.3K
NOI $32,236 @ 7.0% cap · market cap 9.34%
Second Best
Apartment 5plus
$424.5K
$371.4K – $495.2K
NOI $29,713 @ 7.0% cap · market cap 8.61%
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
Location Intelligence
Trade Area within ½ mile
1,496
Businesses Nearby
Explore this area
Business Placement
Demographics for 19131, PA
42,705
Population
22,826
Households
1.9
Avg Household Size
38
Median Age
30%
College-Educated
92%
High-School Grad
5.3 sq mi
ZIP Area
8,058
Density / Sq Mi
$46,057
Median Household Income
$40,052
Median Earnings
$1,312
Median Rent
$163,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Totally renovated duplex with separate HVAC and in-unit laundry, offering two apartments with updated kitchens and baths.
Where is this duplex located?
The property is located at 1234 North 55th Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Totally gut renovated duplex built in 1915 in Carroll Park; Two apartments: Unit 1 has 2 bedrooms and 1 full bath; Unit 2 has 4 bedrooms and 2 full baths; Separate HVAC for each unit plus in‑unit laundry in both apartments
