Renovated Duplex with Two
For Sale
$264,900
1337 W RUSH STREET, Philadelphia, PA 19132
Updated layouts support rental occupancy, owner use, or multigenerational living.
Property Size1,200 SF
Days on Market329
Property Features for 1337 W RUSH STREET
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$513
Amenities
rear yard
Building Details
Building Size
1,200 SF
Year Built
1925
Buildings
1
Listing Agency:
Real of Pennsylvania
Listed By:
Joshua Farley · License #RS348128
(215) 805-7558
Source:
Patmckennarealtors
Added: Oct 13, 2025
Changed: Aug 28
Last Checked: Sep 5 at 7:27AM
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 Real of Pennsylvania
Investment Insights
Based on property information with market context.
This duplex at 1337 W Rush Street contains two separate residential units with distinct layouts. The first floor offers 1 bedroom and 1 bath, an open living area, luxury vinyl plank flooring, and a new kitchen with stainless steel appliances, quartz countertops, and custom cabinetry. The second floor includes 2 bedrooms and 1 bath with matching contemporary finishes.
Renovations extend throughout both units, including updated electric, plumbing, HVAC, windows, kitchens, and baths. The property also includes a low-maintenance rear yard and sits on a quiet residential block in North Philadelphia. Access to major highways and public transportation is available, with Temple Hospital and Center City identified in the surrounding context.
Renovations extend throughout both units, including updated electric, plumbing, HVAC, windows, kitchens, and baths. The property also includes a low-maintenance rear yard and sits on a quiet residential block in North Philadelphia. Access to major highways and public transportation is available, with Temple Hospital and Center City identified in the surrounding context.
Key Highlights
- Two‑unit duplex with 1‑bedroom/1‑bath and 2‑bedroom/1‑bath layouts
- Both units renovated with new electric, plumbing, HVAC, windows, kitchens, and baths
- First‑floor unit features an open living area and luxury vinyl plank flooring
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
$20,478
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
7.73%
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%
$409,560
$409.6K
Cap Rate 7%
$292,543
$292.5K
Cap Rate 9%
$227,533
$227.5K
Market Conditions
NOI Build-Up for 1,200 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
$31.0K $25.80/SF
− Vacancy
−$1.7K −$1.42/SF
EGI
$29.3K $24.38/SF
− OpEx
−$8.8K −$7.31/SF
NOI
$20.5K $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%
$409,560
Cap Rate 7%
$292,543
Cap Rate 9%
$227,533
Alternative Uses
Best Use
Multifamily LT 5
$292.5K
$256.0K – $341.3K
NOI $20,478 @ 7.0% cap · market cap 7.73%
Second Best
Apartment 5plus
$269.6K
$235.9K – $314.6K
NOI $18,875 @ 7.0% cap · market cap 7.13%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,930
Businesses Nearby
Explore this area
Business Placement
Demographics for 19132, PA
33,926
Population
17,402
Households
1.9
Avg Household Size
37
Median Age
13%
College-Educated
83%
High-School Grad
2.2 sq mi
ZIP Area
15,421
Density / Sq Mi
$30,974
Median Household Income
$30,300
Median Earnings
$1,055
Median Rent
$73,000
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?
Duplex - Updated layouts support rental occupancy, owner use, or multigenerational living.
Where is this duplex located?
The property is located at 1337 W RUSH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $264,900.
What are key features of this property?
This property features: Two‑unit duplex with 1‑bedroom/1‑bath and 2‑bedroom/1‑bath layouts; Both units renovated with new electric, plumbing, HVAC, windows, kitchens, and baths; First‑floor unit features an open living area and luxury vinyl plank flooring
