Modern Residential Income
For Sale
$310,000
129 BENJAMIN COURT Unit F129, Philadelphia, PA 19114
Two-level condo unit with flexible living areas, private outdoor space, and access to community amenities.
Property Size1,486 SF
Days on Market20
Property Features for 129 BENJAMIN COURT Unit F129
General Information
Standard status
Active
Size
1,486 SF
Property subtype
Penthouse Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,867
Amenities
library
recreation space
fitness center/gym
built-in electric fireplace
private balcony
utility/storage room
laundry area
loft
skylights
Building Details
Building Size
1,486 SF
Year Built
1993
Listing Agency:
LPT Realty, LLC
Listed By:
Maksim Shein · License #RS347050
(215) 281-8357
Source:
Lizclarkrealestate
Added: Aug 21
Changed: Sep 2
Last Checked: Sep 9 at 7:23AM
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 LPT Realty, LLC
Investment Insights
Based on property information with market context.
This two-level residential income property is configured as a condominium unit with 2 bedrooms and 2 bathrooms. The main level includes an open kitchen and living area, a second bedroom, a hallway bathroom, and laundry space. Features include laminate flooring, natural stone accent walls, high ceilings, an electric fireplace, and a private balcony with access to a utility and storage room. The kitchen is equipped with stainless steel appliances, granite countertops, contemporary cabinetry, and an island with bar seating.
The primary suite includes an en-suite bathroom, generous closet space, an accent wall, and an oversized window. Upstairs, a loft with a fireplace and two skylights provides additional flexibility, while a separate storage room and bedroom or bonus room support varied household needs. Community amenities include a library, recreation space, and fitness center. The property was built in 1993 and is within walking distance of NetCost Market, Dollar General, a bank, a UPS Store, and other shops and services, with public transportation nearby.
The primary suite includes an en-suite bathroom, generous closet space, an accent wall, and an oversized window. Upstairs, a loft with a fireplace and two skylights provides additional flexibility, while a separate storage room and bedroom or bonus room support varied household needs. Community amenities include a library, recreation space, and fitness center. The property was built in 1993 and is within walking distance of NetCost Market, Dollar General, a bank, a UPS Store, and other shops and services, with public transportation nearby.
Key Highlights
- 2‑bedroom, 2‑bathroom condominium unit
- Two‑level layout with loft and additional bedroom or bonus room
- Private balcony with adjoining utility and storage room
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
$23,374
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
7.54%
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%
$467,480
$467.5K
Cap Rate 7%
$333,914
$333.9K
Cap Rate 9%
$259,711
$259.7K
Market Conditions
NOI Build-Up for 1,486 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
$45.1K $30.36/SF
− Vacancy
−$2.6K −$1.76/SF
EGI
$42.5K $28.60/SF
− OpEx
−$19.1K −$12.87/SF
NOI
$23.4K $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%
$467,480
Cap Rate 7%
$333,914
Cap Rate 9%
$259,711
Alternative Uses
Best Use
Apartment 5plus
$333.9K
$292.2K – $389.6K
NOI $23,374 @ 7.0% cap · market cap 7.54%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$362.3K
$317.0K – $422.6K
NOI $25,358 @ 7.0% cap · market cap 8.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,297
Businesses Nearby
Explore this area
Business Placement
Demographics for 19114, PA
32,645
Population
14,703
Households
2.2
Avg Household Size
43
Median Age
30%
College-Educated
91%
High-School Grad
5.6 sq mi
ZIP Area
5,829
Density / Sq Mi
$76,076
Median Household Income
$48,257
Median Earnings
$1,369
Median Rent
$276,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-level condo unit with flexible living areas, private outdoor space, and access to community amenities.
Where is this residential income property located?
The property is located at 129 BENJAMIN COURT Unit F129 Philadelphia, PA.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: 2‑bedroom, 2‑bathroom condominium unit; Two‑level layout with loft and additional bedroom or bonus room; Private balcony with adjoining utility and storage room
