Reconstructed Two-Unit
New
For Sale
$489,900
1402 S 54TH STREET, Philadelphia, PA 19143
Two residences feature separate utilities, private laundry, and updated kitchens with stainless steel appliances.
Property Size2,734 SF
Price / SF$179.19
Days on Market2
Property Features for 1402 S 54TH STREET
General Information
Standard status
Active
Size
2,734 SF
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/2.5BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
luxury vinyl plank flooring
designer kitchens with stainless steel appliance packages
in-unit stackable washer & dryer
contemporary finishes and fixtures
spacious light-filled interiors
Building Details
Year Built
1920
Buildings
1
Listing Agency:
KW Empower
(215) 627-3500
Listed By:
Paris Lipford · License #RS383283
(215) 512-0840
Source:
Cummingsrealtors
Added: Sep 21
Changed: Sep 22
Last Checked: Sep 22 at 1:35PM
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 KW Empower
Investment Insights
Based on property information with market context.
Located at 1402 S 54th Street in Philadelphia, this legal duplex contains 2734 SF across two distinct residences following a complete down-to-the-studs reconstruction. The property has fully electric systems, separate utilities for each residence, luxury vinyl plank flooring, contemporary fixtures, and in-unit stackable laundry equipment.
The first residence is a bi-level layout with 3 bedrooms and 2.5 baths, including an open living area, updated kitchen, main-level powder room, primary suite with private bath, two additional bedrooms, egress windows, and a dedicated laundry area. The second-floor residence includes 2 bedrooms, 1 bath, an open living space, a separate kitchen, natural light, and private laundry. Built in 1920, the property also carries a 10-Year Tax Abatement and is positioned minutes from University City, nearby hospitals, universities, public transportation, Center City, restaurants, shopping, and major employers.
The first residence is a bi-level layout with 3 bedrooms and 2.5 baths, including an open living area, updated kitchen, main-level powder room, primary suite with private bath, two additional bedrooms, egress windows, and a dedicated laundry area. The second-floor residence includes 2 bedrooms, 1 bath, an open living space, a separate kitchen, natural light, and private laundry. Built in 1920, the property also carries a 10-Year Tax Abatement and is positioned minutes from University City, nearby hospitals, universities, public transportation, Center City, restaurants, shopping, and major employers.
Key Highlights
- Legal duplex with 2734 SF and two separate residences
- First residence offers 3 bedrooms and 2.5 baths across two levels
- Second residence includes 2 bedrooms and 1 bath
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
$29,617
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
6.05%
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%
$592,340
$592.3K
Cap Rate 7%
$423,100
$423.1K
Cap Rate 9%
$329,078
$329.1K
Market Conditions
NOI Build-Up for 2,734 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
$45.6K $16.68/SF
− Vacancy
−$3.3K −$1.20/SF
EGI
$42.3K $15.48/SF
− OpEx
−$12.7K −$4.64/SF
NOI
$29.6K $10.83/SF
Area
ZIP 19143
Vacancy
7.22%
Lease Rate
$16.68 /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%
$592,340
Cap Rate 7%
$423,100
Cap Rate 9%
$329,078
Alternative Uses
Best Use
Multifamily LT 5
$423.1K
$370.2K – $493.6K
NOI $29,617 @ 7.0% cap · market cap 6.05%
Second Best
Apartment 5plus
$376.3K
$329.3K – $439.1K
NOI $26,343 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$937.1K
$819.9K – $1.09M
NOI $65,595 @ 7.0% cap · market cap 13.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,346
Businesses Nearby
Explore this area
Business Placement
Demographics for 19143, PA
64,648
Population
31,391
Households
2.1
Avg Household Size
36
Median Age
32%
College-Educated
91%
High-School Grad
3.1 sq mi
ZIP Area
20,854
Density / Sq Mi
$47,964
Median Household Income
$38,189
Median Earnings
$1,235
Median Rent
$152,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residences feature separate utilities, private laundry, and updated kitchens with stainless steel appliances.
Where is this duplex located?
The property is located at 1402 S 54TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: Legal duplex with 2734 SF and two separate residences; First residence offers 3 bedrooms and 2.5 baths across two levels; Second residence includes 2 bedrooms and 1 bath
