Studio Residential Income
For Sale
$150,000
Pending
130-36 N BREAD STREET Unit 226, Philadelphia, PA 19106
Converted foundry building offers a studio layout with central air, in-unit laundry, and a full kitchen.
Property Size372 SF
Days on Market91
Property Features for 130-36 N BREAD STREET Unit 226
General Information
Standard status
Pending
Size
372 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x studio
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,191
Amenities
secure entry
bike storage
common courtyard
in-unit laundry
central air
Building Details
Building Size
372 SF
Year Built
1901
Listing Agency:
Keller Williams Realty - Moorestown
Listed By:
Devin Dinofa · License #0337333
(856) 577-2694
Source:
Patmckennarealtors
Added: Jun 25
Changed: Sep 12
Last Checked: Sep 22 at 9:03PM
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 Keller Williams Realty - Moorestown
Investment Insights
Based on property information with market context.
Unit 226 is a studio condominium within a converted 19th-century foundry built in 1901. The residence includes an open living area, full bathroom, central air, and in-unit laundry. Its kitchen is equipped with wood cabinetry, granite countertops, dishwasher, microwave, cooktop, refrigerator, and additional storage and preparation space. A large window, tile flooring, entry hall, closet space, and built-in ledge provide practical interior features.
The building includes secure entry, bike storage, and a landscaped common courtyard framed by brick walls and preserved industrial elements. Located on N Bread Street in Philadelphia's Old City, the property is near restaurants, coffee shops, boutiques, galleries, gyms, historic landmarks, the Delaware River Waterfront, public transportation, and major roadways.
The building includes secure entry, bike storage, and a landscaped common courtyard framed by brick walls and preserved industrial elements. Located on N Bread Street in Philadelphia's Old City, the property is near restaurants, coffee shops, boutiques, galleries, gyms, historic landmarks, the Delaware River Waterfront, public transportation, and major roadways.
Key Highlights
- Studio condominium in a converted 19th‑century foundry built in 1901
- Central air and in‑unit laundry
- Kitchen with granite countertops, dishwasher, microwave, cooktop, and refrigerator
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
$5,851
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
3.90%
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%
$117,020
$117.0K
Cap Rate 7%
$83,586
$83.6K
Cap Rate 9%
$65,011
$65.0K
Market Conditions
NOI Build-Up for 372 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
$11.3K $30.36/SF
− Vacancy
−$655 −$1.76/SF
EGI
$10.6K $28.60/SF
− OpEx
−$4.8K −$12.87/SF
NOI
$5.9K $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%
$117,020
Cap Rate 7%
$83,586
Cap Rate 9%
$65,011
Alternative Uses
Best Use
Apartment 5plus
$83.6K
$73.1K – $97.5K
NOI $5,851 @ 7.0% cap · market cap 3.90%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$90.7K
$79.4K – $105.8K
NOI $6,348 @ 7.0% cap · market cap 4.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
6,253
Businesses Nearby
Explore this area
Business Placement
Demographics for 19106, PA
15,190
Population
9,913
Households
1.5
Avg Household Size
39
Median Age
80%
College-Educated
96%
High-School Grad
0.9 sq mi
ZIP Area
16,878
Density / Sq Mi
$129,779
Median Household Income
$93,953
Median Earnings
$2,219
Median Rent
$528,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Converted foundry building offers a studio layout with central air, in-unit laundry, and a full kitchen.
Where is this residential income property located?
The property is located at 130-36 N BREAD STREET Unit 226 Philadelphia, PA.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Studio condominium in a converted 19th‑century foundry built in 1901; Central air and in‑unit laundry; Kitchen with granite countertops, dishwasher, microwave, cooktop, and refrigerator
