Renovated Duplex with Two
For Sale
$295,000
1234 West Venango Street, Philadelphia, PA 19140
Updated rental property with a two-bedroom unit, a one-bedroom unit, and electric utilities throughout.
Property Size1,344 SF
Price / SF$219.49
Days on Market199
Property Features for 1234 West Venango Street
General Information
Standard status
Active
Size
1,344 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RM1
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,499
Amenities
washer and dryer
No
No Pool
Above Grade, Below Grade
Building Details
Year Built
1940
Buildings
1
Listing Agency:
EXP Realty, LLC
Listed By:
Patricia Gadson · License #RS363752
(267) 463-3364
Source:
Compass
Added: Feb 19
Changed: Sep 2
Last Checked: Aug 30 at 12:46PM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This 1,344-square-foot duplex, built in 1940, contains two separately configured residences. The first offers two bedrooms and one bathroom, while the second provides one bedroom and one bathroom. Both units have been renovated with updated systems and contemporary finishes. The property is all electric, and a washer and dryer are included.
The duplex is currently occupied, with leases expected to expire soon. Located at 1234 West Venango Street in Philadelphia’s 19140 area, the property carries RM1 zoning and falls within the Philadelphia City School District. Existing improvements include above-grade and below-grade space, with no pool reported.
The duplex is currently occupied, with leases expected to expire soon. Located at 1234 West Venango Street in Philadelphia’s 19140 area, the property carries RM1 zoning and falls within the Philadelphia City School District. Existing improvements include above-grade and below-grade space, with no pool reported.
Key Highlights
- 1,344 SF duplex with two residential units
- Unit mix includes 2 bedrooms and 1 bathroom plus 1 bedroom and 1 bathroom
- Both units renovated with updated systems and contemporary finishes
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
$22,935
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
7.77%
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%
$458,700
$458.7K
Cap Rate 7%
$327,643
$327.6K
Cap Rate 9%
$254,833
$254.8K
Market Conditions
NOI Build-Up for 1,344 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
$34.7K $25.80/SF
− Vacancy
−$1.9K −$1.42/SF
EGI
$32.8K $24.38/SF
− OpEx
−$9.8K −$7.31/SF
NOI
$22.9K $17.06/SF
Area
Philadelphia, PA
Vacancy
5.51%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
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%
$458,700
Cap Rate 7%
$327,643
Cap Rate 9%
$254,833
Alternative Uses
Best Use
Multifamily LT 5
$327.6K
$286.7K – $382.3K
NOI $22,935 @ 7.0% cap · market cap 7.77%
Second Best
Apartment 5plus
$302.0K
$264.3K – $352.3K
NOI $21,140 @ 7.0% cap · market cap 7.17%
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
3,299
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
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Frequently Asked Questions
What type of property is this?
Duplex - Updated rental property with a two-bedroom unit, a one-bedroom unit, and electric utilities throughout.
Where is this duplex located?
The property is located at 1234 West Venango Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: 1,344 SF duplex with two residential units; Unit mix includes 2 bedrooms and 1 bathroom plus 1 bedroom and 1 bathroom; Both units renovated with updated systems and contemporary finishes
