Character Duplex with Rooftop
For Sale
$535,000
922 Ellsworth St, Philadelphia, PA 19147
Two separately serviced residences offer flexible occupancy arrangements and distinct outdoor spaces, including a private rear yard and elevated deck.
Property Size1,665 SF
Price / SF$321.32
Days on Market8
Property Features for 922 Ellsworth St
General Information
Standard status
Active
Size
1,665 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR
Multifamily Units
2
Amenities
rooftop deck
Building Details
Year Built
1915
Buildings
1
Listing Agency:
Coldwell Banker Realty
Listed By:
Dominic V Fuscia · License #RS294492
(215) 605-4280
Source:
Upgradebymichaud
Added: Aug 26
Changed: Sep 2
Last Checked: Sep 1 at 8:43PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 1915 duplex contains two residences with distinct layouts. The first-floor one-bedroom, one-bath unit provides single-level living, a private rear yard, basement mechanical storage, and its own washer and dryer. It is currently occupied by a tenant who would like to remain. The upper residence spans the second and third floors, with an open living area, exposed brick, wood beams, galley kitchen, storage, and two bedrooms. A rooftop deck covers the building’s roof footprint and provides 360-degree views of the Philadelphia skyline.
Each residence has separately metered utilities, an individual heating system, hot water heater, and washer and dryer. The property is located on a tree-lined block near the Italian Market, with restaurants, cafes, bars, specialty shops, and neighborhood amenities nearby. Public transportation, Center City, and major highways are also accessible from the property.
Each residence has separately metered utilities, an individual heating system, hot water heater, and washer and dryer. The property is located on a tree-lined block near the Italian Market, with restaurants, cafes, bars, specialty shops, and neighborhood amenities nearby. Public transportation, Center City, and major highways are also accessible from the property.
Key Highlights
- 1665 SF duplex with two distinct residential units
- First‑floor 1‑bedroom, 1‑bath unit with private rear yard
- Upper unit includes two bedrooms, exposed brick, wood beams, and galley kitchen
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
$28,413
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
5.31%
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%
$568,260
$568.3K
Cap Rate 7%
$405,900
$405.9K
Cap Rate 9%
$315,700
$315.7K
Market Conditions
NOI Build-Up for 1,665 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
$43.0K $25.80/SF
− Vacancy
−$2.4K −$1.42/SF
EGI
$40.6K $24.38/SF
− OpEx
−$12.2K −$7.31/SF
NOI
$28.4K $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%
$568,260
Cap Rate 7%
$405,900
Cap Rate 9%
$315,700
Alternative Uses
Best Use
Multifamily LT 5
$405.9K
$355.2K – $473.6K
NOI $28,413 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$374.1K
$327.4K – $436.5K
NOI $26,190 @ 7.0% cap · market cap 4.90%
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
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
5,273
Businesses Nearby
Explore this area
Business Placement
Demographics for 19147, PA
41,096
Population
20,735
Households
2
Avg Household Size
36
Median Age
69%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
31,612
Density / Sq Mi
$104,190
Median Household Income
$71,905
Median Earnings
$1,679
Median Rent
$524,900
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 - Two separately serviced residences offer flexible occupancy arrangements and distinct outdoor spaces, including a private rear yard and elevated deck.
Where is this duplex located?
The property is located at 922 Ellsworth St Philadelphia, PA.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: 1665 SF duplex with two distinct residential units; First‑floor 1‑bedroom, 1‑bath unit with private rear yard; Upper unit includes two bedrooms, exposed brick, wood beams, and galley kitchen
