Residential Income Property with Rooftop
New
For Sale
$562,500
1247 E COLUMBIA AVENUE Unit 4, Philadelphia, PA 19125
Three-level Philadelphia residence with private outdoor areas, deeded garage parking, custom finishes, and access to shared condominium amenities.
Property Size1,606 SF
Price / SF$350.25
Days on Market5
Property Features for 1247 E COLUMBIA AVENUE Unit 4
General Information
Standard status
Active
Size
1,606 SF
Total Parking Spaces
1
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 3BR/2.5BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$7,670
Amenities
common-area decks
dog park
koi pond
Building Details
Building Size
1,606 SF
Year Built
2009
Listing Agency:
Compass Pennsylvania, LLC
Listed By:
Christopher Baker · License #RS311679
(267) 255-2253
Source:
Patmckennarealtors
Added: Sep 12
Changed: Sep 15
Last Checked: Sep 15 at 2:25PM
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 Pennsylvania, LLC
Investment Insights
Based on property information with market context.
Residence 4 is a three-level home within the LEED Platinum-certified Ice House Condominium, built in 2009. The 1,606-square-foot layout includes three bedrooms, two-and-a-half bathrooms, hardwood flooring, custom improvements, and an open main living level. The kitchen features stainless steel appliances and a Caesarstone peninsula, while sliding doors connect the living area with a landscaped patio garden. The upper levels include two additional bedrooms, laundry storage, and a primary suite with a walk-in closet and en-suite bathroom. That suite opens to a private balcony and a 475-square-foot rooftop deck with grill hookup and city and bridge views. The property also includes three private outdoor spaces and one deeded garage parking space. Community amenities include common-area decks, a private dog park, a koi pond, drought-resistant landscaping, and a secure covered parking garage. The residence is at 1247 E Columbia Avenue in Philadelphia, two blocks from Frankford Avenue and Girard Avenue, with nearby access to the Market-Frankford Line, I-95, Penn Treaty Park, and the Delaware River waterfront.
Key Highlights
- 1,606‑square‑foot, three‑bedroom, two‑and‑a‑half‑bath residence across three levels
- 475‑square‑foot rooftop deck with grill hookup and city and bridge views
- Three private outdoor spaces, including a patio garden and private balcony
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
$25,262
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
4.49%
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%
$505,240
$505.2K
Cap Rate 7%
$360,886
$360.9K
Cap Rate 9%
$280,689
$280.7K
Market Conditions
NOI Build-Up for 1,606 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
$48.8K $30.36/SF
− Vacancy
−$2.8K −$1.76/SF
EGI
$45.9K $28.60/SF
− OpEx
−$20.7K −$12.87/SF
NOI
$25.3K $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%
$505,240
Cap Rate 7%
$360,886
Cap Rate 9%
$280,689
Alternative Uses
Best Use
Apartment 5plus
$360.9K
$315.8K – $421.0K
NOI $25,262 @ 7.0% cap · market cap 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$391.5K
$342.6K – $456.8K
NOI $27,406 @ 7.0% cap · market cap 4.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,151
Businesses Nearby
Explore this area
Business Placement
Demographics for 19125, PA
25,325
Population
13,055
Households
1.9
Avg Household Size
34
Median Age
64%
College-Educated
94%
High-School Grad
1.4 sq mi
ZIP Area
18,089
Density / Sq Mi
$110,842
Median Household Income
$62,656
Median Earnings
$1,743
Median Rent
$373,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Three-level Philadelphia residence with private outdoor areas, deeded garage parking, custom finishes, and access to shared condominium amenities.
Where is this residential income property located?
The property is located at 1247 E COLUMBIA AVENUE Unit 4 Philadelphia, PA.
What is the asking price?
The asking price for this property is $562,500.
What are key features of this property?
This property features: 1,606‑square‑foot, three‑bedroom, two‑and‑a‑half‑bath residence across three levels; 475‑square‑foot rooftop deck with grill hookup and city and bridge views; Three private outdoor spaces, including a patio garden and private balcony
