Residential Income
For Sale
$799,900
1211 N Franklin Street, Philadelphia, PA 19122
Built in 2017, this triplex offers separate utilities and in-unit laundry across three distinct residential units.
Property Size3,500 SF
Price / SF$228.54
Days on Market523
Property Features for 1211 N Franklin Street
General Information
Standard status
Active
Size
3,500 SF
Property subtype
Multi-Family
Zoning
RM1
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$2,351
Amenities
hardwood flooring
modern kitchens
separate utilities
in-unit laundry
video intercoms
private backyard
private roof deck
Wood,Tile/Brick
Electric
Yes
No
Estimated
1
No Pool
Public
W50
16.00 x 87.00
On Street
Roof Deck
Concrete Perimeter
168000.00
Assessor
Building Details
Building Size
3,500 SF
Year Built
2017
Tenancy
Multi
Listing Agency:
High Associates Ltd.
(856) 222-0077
Listed By:
Francis Brennan
Source:
Thetristaterealestategroup
Added: Apr 4, 2025
Changed: Sep 7
Last Checked: Sep 7 at 5:01AM
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 High Associates Ltd.
Investment Insights
Based on property information with market context.
Built in 2017, this triplex features three separate residential units with their own utilities. Interiors include hardwood flooring, modern kitchens with quartz countertops and stainless steel appliances, and in-unit laundry. Additional finishes include video intercoms and bathrooms with porcelain tile and brushed nickel fixtures.
The first-floor bi-level unit offers 3 bedrooms and 2 bathrooms and includes a private backyard. The second-floor unit provides 2 bedrooms and 1 bathroom with an open layout. The third-floor unit also offers 2 bedrooms and 1 bathroom and includes a private roof deck.
The property is advertised as having a 10-year tax abatement and generating approximately $5,350 per month in projected rent. It is described as being just steps from Girard Ave with access to transit, and a short walk from Fishtown and Northern Liberties.
The first-floor bi-level unit offers 3 bedrooms and 2 bathrooms and includes a private backyard. The second-floor unit provides 2 bedrooms and 1 bathroom with an open layout. The third-floor unit also offers 2 bedrooms and 1 bathroom and includes a private roof deck.
The property is advertised as having a 10-year tax abatement and generating approximately $5,350 per month in projected rent. It is described as being just steps from Girard Ave with access to transit, and a short walk from Fishtown and Northern Liberties.
Key Highlights
- Triplex built in 2017 with 3 residential units: one 3BD/2BA and two 2BD/1BA units.
- Projected rent of approx. $5,350/month and includes a 10‑year tax abatement.
- Each unit has separate utilities and in‑unit laundry, plus video intercoms.
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
$59,727
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
7.47%
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%
$1,194,540
$1.2M
Cap Rate 7%
$853,243
$853.2K
Cap Rate 9%
$663,633
$663.6K
Market Conditions
NOI Build-Up for 3,500 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
$90.3K $25.80/SF
− Vacancy
−$5.0K −$1.42/SF
EGI
$85.3K $24.38/SF
− OpEx
−$25.6K −$7.31/SF
NOI
$59.7K $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%
$1,194,540
Cap Rate 7%
$853,243
Cap Rate 9%
$663,633
Alternative Uses
Best Use
Multifamily LT 5
$853.2K
$746.6K – $995.5K
NOI $59,727 @ 7.0% cap · market cap 7.47%
Second Best
Apartment 5plus
$786.5K
$688.2K – $917.6K
NOI $55,053 @ 7.0% cap · market cap 6.88%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,203
Businesses Nearby
Explore this area
Business Placement
Demographics for 19122, PA
26,668
Population
10,139
Households
2.6
Avg Household Size
28
Median Age
42%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
20,514
Density / Sq Mi
$57,785
Median Household Income
$31,871
Median Earnings
$1,294
Median Rent
$341,000
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?
Triplex - Built in 2017, this triplex offers separate utilities and in-unit laundry across three distinct residential units.
Where is this triplex located?
The property is located at 1211 N Franklin Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Triplex built in 2017 with 3 residential units: one 3BD/2BA and two 2BD/1BA units.; Projected rent of approx. $5,350/month and includes a 10‑year tax abatement.; Each unit has separate utilities and in‑unit laundry, plus video intercoms.
