Remodeled Duplex in West
2001 S NORWOOD STREET, Philadelphia, PA 19145
Newly remodeled duplex in Philadelphia's West Passyunk neighborhood with tenants.
Type:Multi Family
Property size:
1,530 SFPrice / SF:
$300/SF- Added:
- Apr 15, 2025
- Days on Market:
- 412
- Last Refresh:
- May 28 at 8:17 am
Property Features for 2001 S NORWOOD STREET
General Information
- Standard status
- Active
- Size
- 1,530 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1920
Listing agent Jerry P Hill (267) 242-9172
Listing office Homestarr Realty (267) 242-9172
Listing date Apr 15, 2025
Source Exitrealty
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 Homestarr Realty
HighLights
- Newly remodeled duplex featuring new plumbing, HVAC, roof, and flooring.
- Active Tax Abatement.
- Income‑producing property with tenants already in place.
- Tenants pay all utilities, including water.
- Located in the rapidly evolving West Passyunk neighborhood.
- Unit A (3 Bed/2 Bath) rent is $1750/month; Unit B (2 Bed/1 Bath) rent is $1350/month with a one‑year lease.
Overview
This newly remodeled duplex is located in the West Passyunk neighborhood of Philadelphia. The property features new plumbing, HVAC systems, a new roof, and new flooring throughout. The duplex is currently income-producing, with two tenants in place. Both tenants are responsible for all utilities, including water. Unit A is a 3-bedroom, 2-bathroom unit with a monthly rent of $1750. Unit B is a 2-bedroom, 1-bathroom unit with a monthly rent of $1350 and a one-year lease. The West Passyunk neighborhood is described as a dynamic and rapidly evolving community with local shops, trendy eateries, and cultural attractions. The location provides convenient access to public transportation and major highways.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $39.5k | $25.80 |
| − Vacancy | −$2.2k | −$1.42 |
| EGI | $37.3k | $24.38 |
| − OpEx | −$11.2k | −$7.31 |
| NOI | $26.1k | $17.06 |
1,530 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$373.0K
$326.4K – $435.2K
NOI $26,109 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$343.8K
$300.8K – $401.1K
NOI $24,066 @ 7.0% cap · market cap 5.23%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Delaware
- State
- Pennsylvania
- Longitude
- -75.1813154
- Latitude
- 39.9270404
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Newly remodeled duplex in Philadelphia's West Passyunk neighborhood with tenants.
Where is this duplex located?
The property is located at 2001 S NORWOOD STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: Newly remodeled duplex featuring new plumbing, HVAC, roof, and flooring.; Active Tax Abatement.; Income‑producing property with tenants already in place.
