Refurbished Duplex with Separate
For Sale
$299,900
1402 West 3rd Street, Chester, PA 19013
Updated two-unit property with new systems, private outdoor areas, and off-street parking potential.
Property Size2,318 SF
Price / SF$129.38
Days on Market394
Property Features for 1402 West 3rd Street
General Information
Standard status
Active
Size
2,318 SF
Total Parking Spaces
4
Property subtype
Multi-Family / Fee Simple
Zoning
C-2/R
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$936
Amenities
No
Six Panel
Double Pane, Energy Efficient, Insulated, Replacement, Screens, Vinyl Clad
2+ Access Exits, 32"+ wide Doors, Accessible Switches/Outlets, Doors - Lever Handle(s), Grab Bars Mod, Kitchen Mod, Level Entry - Main
No Pool
Above Grade, Below Grade
Gutter System, Play Area, Sidewalks, Stone Retaining Walls, Street Lights
Porch(es)
Building Details
Year Built
1925
Buildings
1
Listing Agency:
Donegal Portfolio Specialists LLC
(610) 505-7776
Listed By:
Timothy M Howley · License #RM419677
(610) 505-7776
Source:
Compass
Added: Aug 5, 2025
Changed: Aug 30
Last Checked: Aug 31 at 9:55PM
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 Donegal Portfolio Specialists LLC
Investment Insights
Based on property information with market context.
This 2,318-square-foot duplex, originally built in 1925, has undergone extensive refurbishment across both apartments. The work includes new floor and roof joists, wall studs, insulation, electrical wiring, panel boxes, plumbing, replacement windows, and roofing. Each unit is separately metered and includes a kitchen with new appliances, two full baths, and a silent mini-split system for heating and cooling.
The property is zoned C-2/R and includes porch areas, sidewalks, a gutter system, stone retaining walls, and a side yard with mature trees. A large lot provides off-street parking space, while the backyard offers a private outdoor setting. The property is located in Chester, with an airport less than 10 miles away and a bus stop less than 1 mile away.
The property is zoned C-2/R and includes porch areas, sidewalks, a gutter system, stone retaining walls, and a side yard with mature trees. A large lot provides off-street parking space, while the backyard offers a private outdoor setting. The property is located in Chester, with an airport less than 10 miles away and a bus stop less than 1 mile away.
Key Highlights
- 2,318‑square‑foot duplex with two apartments
- Extensive refurbishment includes new framing, insulation, wiring, plumbing, windows, and roof
- Each apartment has a new electrical panel box and separate metering
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
$25,407
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
8.47%
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%
$508,140
$508.1K
Cap Rate 7%
$362,957
$363.0K
Cap Rate 9%
$282,300
$282.3K
Market Conditions
NOI Build-Up for 2,318 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
$41.7K $18.00/SF
− Vacancy
−$5.4K −$2.34/SF
EGI
$36.3K $15.66/SF
− OpEx
−$10.9K −$4.70/SF
NOI
$25.4K $10.96/SF
Area
Delaware County, PA
Vacancy
13.01%
Lease Rate
$18.00 /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%
$508,140
Cap Rate 7%
$362,957
Cap Rate 9%
$282,300
Alternative Uses
Best Use
Multifamily LT 5
$363.0K
$317.6K – $423.5K
NOI $25,407 @ 7.0% cap · market cap 8.47%
Second Best
Apartment 5plus
$332.0K
$290.5K – $387.3K
NOI $23,237 @ 7.0% cap · market cap 7.75%
Theoretical Best
Office A
$702.8K
$615.0K – $819.9K
NOI $49,196 @ 7.0% cap · market cap 16.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
541
Businesses Nearby
Explore this area
Business Placement
Demographics for 19013, PA
34,252
Population
15,664
Households
2.2
Avg Household Size
34
Median Age
13%
College-Educated
86%
High-School Grad
5.6 sq mi
ZIP Area
6,116
Density / Sq Mi
$39,416
Median Household Income
$31,668
Median Earnings
$1,083
Median Rent
$85,200
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 two-unit property with new systems, private outdoor areas, and off-street parking potential.
Where is this duplex located?
The property is located at 1402 West 3rd Street Chester, PA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 2,318‑square‑foot duplex with two apartments; Extensive refurbishment includes new framing, insulation, wiring, plumbing, windows, and roof; Each apartment has a new electrical panel box and separate metering
