Condominium with Private
For Sale
$365,000
1305 N HOPE STREET Unit A, Philadelphia, PA 19122
The 2017 home includes two bedrooms, two full bathrooms, and an in-unit washer and dryer.
Property Size1,268 SF
Days on Market12
Property Features for 1305 N HOPE STREET Unit A
General Information
Standard status
Active
Size
1,268 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Olde Kensington
Public Transit
Yes
Additional Details
HOA Fee
$125.42
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,421
Amenities
private patio
in-unit washer and dryer
Building Details
Building Size
1,268 SF
Year Built
2017
Listing Agency:
RE/MAX Keystone
Listed By:
Steven L Sullivan · License #RS317791
(215) 740-2655
Source:
Patmckennarealtors
Added: Oct 21
Changed: Oct 31
Last Checked: Oct 31 at 12:03AM
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 RE/MAX Keystone
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Investment Insights
Based on property information with market context.
Built in 2017, this two-bedroom, two-bath condominium has an open main-level plan and a contemporary kitchen equipped with stainless steel appliances, an island cooktop, and a stainless steel hood. The primary bedroom has an en-suite bath and walk-in closet; the second bedroom has a closet, and a separate full bathroom includes a tub. A hallway walk-in closet and in-unit laundry add storage and convenience. The unit also has a fully enclosed private yard, and a remaining tax abatement is noted.
The property is near Frankford Avenue and the restaurants, bars, coffee shops, and boutiques of Fishtown and Northern Liberties. Girard Station on the Market-Frankford Line is nearby, as are neighborhood parks and the waterfront grounds at Penn Treaty Park.
The property is near Frankford Avenue and the restaurants, bars, coffee shops, and boutiques of Fishtown and Northern Liberties. Girard Station on the Market-Frankford Line is nearby, as are neighborhood parks and the waterfront grounds at Penn Treaty Park.
Key Highlights
- Two bedrooms and two full bathrooms
- Built in 2017; remaining tax abatement
- Private fenced yard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,945
Cap Rate
5.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$398,900
$398.9K
Cap Rate 7%
$284,929
$284.9K
Cap Rate 9%
$221,611
$221.6K
Market Conditions
NOI Build-Up for 1,268 SF
Gross rent
$38.5K $30.36/SF
− Vacancy
−$2.2K −$1.76/SF
EGI
$36.3K $28.60/SF
− OpEx
−$16.3K −$12.87/SF
NOI
$19.9K $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 Rate 5%
$398,900
Cap Rate 7%
$284,929
Cap Rate 9%
$221,611
Alternative Uses
Best Use
Apartment 5plus
$284.9K
$249.3K – $332.4K
NOI $19,945 @ 7.0% cap · market cap 5.46%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$309.1K
$270.5K – $360.6K
NOI $21,638 @ 7.0% cap · market cap 5.93%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,571
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - The 2017 home includes two bedrooms, two full bathrooms, and an in-unit washer and dryer.
Where is this residential income property located?
The property is located at 1305 N HOPE STREET Unit A Philadelphia, PA.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Two bedrooms and two full bathrooms; Built in 2017; remaining tax abatement; Private fenced yard
