Residential Income Property with Rooftop
For Sale
$475,000
Pending
1241 BUTTONWOOD STREET Unit 4C, Philadelphia, PA 19123
Two-bedroom, two-bath condominium with elevator access, garage parking, in-unit laundry, and a private rooftop deck.
Property Size1,174 SF
Days on Market153
Property Features for 1241 BUTTONWOOD STREET Unit 4C
General Information
Standard status
Pending
Size
1,174 SF
Total Parking Spaces
1
Elevators
Yes
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,383
Amenities
rooftop deck
in-unit laundry
hardwood flooring
stainless steel appliances
tile backsplash
counter seating
storage closet
glass-enclosed shower
dual closets
private en-suite bathroom
Building Details
Building Size
1,174 SF
Year Built
2014
Listing Agency:
Philly LMG, LLC
Listed By:
Sabina Palermo · License #RS345386
(215) 821-5527
Source:
Patmckennarealtors
Added: Apr 15
Changed: Sep 3
Last Checked: Sep 13 at 1:36PM
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 Philly LMG, LLC
Investment Insights
Based on property information with market context.
This 4th-floor condominium, built in 2014, offers two bedrooms and two full bathrooms with a bright open living and dining area. Hardwood flooring extends through the residence, while the kitchen includes stainless steel appliances, substantial cabinetry, a tile backsplash, and counter seating. The primary suite has dual closets and a private bathroom with a shower/tub combination; the second bedroom provides additional closet space. A separate storage closet and in-unit laundry area add practical functionality.
The property includes a private garage parking space, elevator service, and access to an expansive rooftop deck with city views. It is located in Philadelphia’s Callowhill neighborhood, near the Rail Park, SEPTA’s Broad Street Line, multiple bus routes, cafes, restaurants, galleries, and fitness studios.
The property includes a private garage parking space, elevator service, and access to an expansive rooftop deck with city views. It is located in Philadelphia’s Callowhill neighborhood, near the Rail Park, SEPTA’s Broad Street Line, multiple bus routes, cafes, restaurants, galleries, and fitness studios.
Key Highlights
- Two‑bedroom, two‑bath 4th‑floor condominium built in 2014
- Private garage parking space and elevator access
- Expansive rooftop deck with city views
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
$18,466
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
3.89%
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%
$369,320
$369.3K
Cap Rate 7%
$263,800
$263.8K
Cap Rate 9%
$205,178
$205.2K
Market Conditions
NOI Build-Up for 1,174 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
$35.6K $30.36/SF
− Vacancy
−$2.1K −$1.76/SF
EGI
$33.6K $28.60/SF
− OpEx
−$15.1K −$12.87/SF
NOI
$18.5K $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%
$369,320
Cap Rate 7%
$263,800
Cap Rate 9%
$205,178
Alternative Uses
Best Use
Apartment 5plus
$263.8K
$230.8K – $307.8K
NOI $18,466 @ 7.0% cap · market cap 3.89%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$286.2K
$250.4K – $333.9K
NOI $20,034 @ 7.0% cap · market cap 4.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
11,041
Businesses Nearby
Explore this area
Business Placement
Demographics for 19123, PA
18,793
Population
10,636
Households
1.8
Avg Household Size
33
Median Age
66%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
14,456
Density / Sq Mi
$95,872
Median Household Income
$73,760
Median Earnings
$1,687
Median Rent
$544,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom, two-bath condominium with elevator access, garage parking, in-unit laundry, and a private rooftop deck.
Where is this residential income property located?
The property is located at 1241 BUTTONWOOD STREET Unit 4C Philadelphia, PA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath 4th‑floor condominium built in 2014; Private garage parking space and elevator access; Expansive rooftop deck with city views
