Four-Story Duplex with Roof
For Sale
$738,888
1000 Mount Vernon Street, Philadelphia, PA 19123
New construction 4-story duplex offers two residential units with modern kitchens and roof access.
Property Size3,060 SF
Price / SF$241.47
Days on Market673
Property Features for 1000 Mount Vernon Street
General Information
Standard status
Active
Size
3,060 SF
Property subtype
Multi-Family
Zoning
RSA5
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,379
Amenities
Electric
Yes
No
Assessor
No Pool
Public
W70
16.00 x 37.00
0.01
Off Site
Concrete Perimeter
170000.00
Building Details
Building Size
3,060 SF
Year Built
2018
Stories
4
Tenancy
Multi
Listing Agency:
Warner Real Estate & Auction Company
(856) 222-0077
Listed By:
Gary Cook
Source:
Thetristaterealestategroup
Added: Nov 4, 2024
Changed: Sep 7
Last Checked: Sep 7 at 5:52AM
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 Warner Real Estate & Auction Company
Investment Insights
Based on property information with market context.
Built in 2018, this four-story duplex features two residential units designed with modern finishes and quality materials. The interiors include custom open kitchens with granite countertops, built-in microwaves, and stainless refrigerators. Hardwood flooring runs straight through the house, with high ceilings and designed lighting throughout.
Each unit is configured for distinct living needs, with Unit 1 offering 2 bedrooms and 1.5 bathrooms. The second unit includes 3 bedrooms and 3 full bathrooms, with walk-in closets in each bedroom. The master bathroom includes a standing stall, a Jacuzzi bathtub, and a makeup table.
The property provides roof access, allowing for an elevated outdoor area. The seller notes there are no monthly management fees or association fees.
Each unit is configured for distinct living needs, with Unit 1 offering 2 bedrooms and 1.5 bathrooms. The second unit includes 3 bedrooms and 3 full bathrooms, with walk-in closets in each bedroom. The master bathroom includes a standing stall, a Jacuzzi bathtub, and a makeup table.
The property provides roof access, allowing for an elevated outdoor area. The seller notes there are no monthly management fees or association fees.
Key Highlights
- 4‑story duplex built in 2018 with 3,060 sqft of living area (Assessor)
- Two units: first unit has 2 bedrooms and 1.5 bathrooms; second unit has 3 bedrooms and 3 full bathrooms
- Second‑unit bedrooms include walk‑in closets; master bath includes a Jacuzzi bathtub and stand‑in stall
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
$52,219
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
7.07%
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%
$1,044,380
$1.0M
Cap Rate 7%
$745,986
$746.0K
Cap Rate 9%
$580,211
$580.2K
Market Conditions
NOI Build-Up for 3,060 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
$78.9K $25.80/SF
− Vacancy
−$4.4K −$1.42/SF
EGI
$74.6K $24.38/SF
− OpEx
−$22.4K −$7.31/SF
NOI
$52.2K $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%
$1,044,380
Cap Rate 7%
$745,986
Cap Rate 9%
$580,211
Alternative Uses
Best Use
Multifamily LT 5
$746.0K
$652.7K – $870.3K
NOI $52,219 @ 7.0% cap · market cap 7.07%
Second Best
Apartment 5plus
$687.6K
$601.7K – $802.2K
NOI $48,132 @ 7.0% cap · market cap 6.51%
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
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,285
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
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 - New construction 4-story duplex offers two residential units with modern kitchens and roof access.
Where is this duplex located?
The property is located at 1000 Mount Vernon Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $738,888.
What are key features of this property?
This property features: 4‑story duplex built in 2018 with 3,060 sqft of living area (Assessor); Two units: first unit has 2 bedrooms and 1.5 bathrooms; second unit has 3 bedrooms and 3 full bathrooms; Second‑unit bedrooms include walk‑in closets; master bath includes a Jacuzzi bathtub and stand‑in stall
