Renovated
For Sale
$545,000
1908 N 7TH STREET, Philadelphia, PA 19122
Three two-bedroom, two-bathroom units provide a consistent residential configuration.
Property Size2,503 SF
Days on Market15
Property Features for 1908 N 7TH STREET
General Information
Standard status
Active
Size
2,503 SF
Property subtype
Triplex
Additional Details
Gross Income
$72,000
Taxes and HOA fees
Annual Taxes
$10,015
Building Details
Building Size
2,503 SF
Year Built
1915
Tenancy
Multi
Listing Agency:
RE/MAX Access
(215) 817-7602
Listed By:
Edward P Diehl · License #AB069544
(215) 817-7602
Source:
Patmckennarealtors
Added: Jul 30
Changed: Aug 11
Last Checked: Aug 12 at 3:21PM
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 Access
Investment Insights
Based on property information with market context.
This triplex includes three residential units, each configured with two bedrooms and two bathrooms. The property was redone 2 years ago and is described as brand new throughout, providing updated interiors across the building.
Built in 1915, the property is located at 1908 N 7th Street in Philadelphia, Pennsylvania. Its three-unit configuration offers a straightforward multifamily layout with consistent unit sizes and bedroom-bathroom counts.
Built in 1915, the property is located at 1908 N 7th Street in Philadelphia, Pennsylvania. Its three-unit configuration offers a straightforward multifamily layout with consistent unit sizes and bedroom-bathroom counts.
Key Highlights
- Three‑unit triplex configuration
- Each unit includes 2 bedrooms and 2 bathrooms
- Property was redone 2 years ago
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
$42,713
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
7.84%
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%
$854,260
$854.3K
Cap Rate 7%
$610,186
$610.2K
Cap Rate 9%
$474,589
$474.6K
Market Conditions
NOI Build-Up for 2,503 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
$64.6K $25.80/SF
− Vacancy
−$3.6K −$1.42/SF
EGI
$61.0K $24.38/SF
− OpEx
−$18.3K −$7.31/SF
NOI
$42.7K $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%
$854,260
Cap Rate 7%
$610,186
Cap Rate 9%
$474,589
Alternative Uses
Best Use
Multifamily LT 5
$610.2K
$533.9K – $711.9K
NOI $42,713 @ 7.0% cap · market cap 7.84%
Second Best
Apartment 5plus
$562.4K
$492.1K – $656.2K
NOI $39,371 @ 7.0% cap · market cap 7.22%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,214
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 - Three two-bedroom, two-bathroom units provide a consistent residential configuration.
Where is this triplex located?
The property is located at 1908 N 7TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: Three‑unit triplex configuration; Each unit includes 2 bedrooms and 2 bathrooms; Property was redone 2 years ago
