Occupied Three-Unit
For Sale
$675,000
1414 Dickinson Street, Philadelphia, PA 19146
Residential income property with three two-bedroom apartments in Philadelphia’s Passyunk Square neighborhood.
Property Size2,305 SF
Price / SF$292.84
Days on Market621
Property Features for 1414 Dickinson Street
General Information
Standard status
Active
Size
2,305 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RSA5
Occupancy
100%
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,770
Amenities
No
No Pool
Above Grade, Below Grade
Building Details
Year Built
1923
Buildings
1
Listing Agency:
Keller Williams Liberty Place
(610) 606-1095
Listed By:
Ryan J McManus · License #RS316262
(610) 606-1095
Source:
Compass
Added: Dec 18, 2024
Changed: Aug 30
Last Checked: Aug 30 at 1:59PM
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 Keller Williams Liberty Place
Investment Insights
Based on property information with market context.
This 1923 residential income property contains three apartment units within a 2,305-square-foot building. Each unit offers two bedrooms and one bathroom, creating a consistent layout across the property. The building is fully occupied and zoned RSA5. Its three-unit configuration also accommodates an owner-occupant arrangement, with the possibility of residing in one apartment while leasing the others.
Located at 1414 Dickinson Street in Philadelphia’s Passyunk Square neighborhood, the property is near Passyunk Avenue’s dining, entertainment, and shopping. Public transit and major thoroughfares provide access to Center City and surrounding areas. The property is within the Philadelphia City School District and is identified in MLS Area 19146.
Located at 1414 Dickinson Street in Philadelphia’s Passyunk Square neighborhood, the property is near Passyunk Avenue’s dining, entertainment, and shopping. Public transit and major thoroughfares provide access to Center City and surrounding areas. The property is within the Philadelphia City School District and is identified in MLS Area 19146.
Key Highlights
- Three residential units, each with 2 bedrooms and 1 bathroom
- 2,305‑square‑foot multifamily building constructed in 1923
- Fully occupied triplex at 1414 Dickinson Street
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
$39,335
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
5.83%
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%
$786,700
$786.7K
Cap Rate 7%
$561,929
$561.9K
Cap Rate 9%
$437,056
$437.1K
Market Conditions
NOI Build-Up for 2,305 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
$59.5K $25.80/SF
− Vacancy
−$3.3K −$1.42/SF
EGI
$56.2K $24.38/SF
− OpEx
−$16.9K −$7.31/SF
NOI
$39.3K $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%
$786,700
Cap Rate 7%
$561,929
Cap Rate 9%
$437,056
Alternative Uses
Best Use
Multifamily LT 5
$561.9K
$491.7K – $655.6K
NOI $39,335 @ 7.0% cap · market cap 5.83%
Second Best
Apartment 5plus
$518.0K
$453.2K – $604.3K
NOI $36,257 @ 7.0% cap · market cap 5.37%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
4,093
Businesses Nearby
Explore this area
Business Placement
Demographics for 19146, PA
41,920
Population
22,182
Households
1.9
Avg Household Size
34
Median Age
65%
College-Educated
94%
High-School Grad
1.7 sq mi
ZIP Area
24,659
Density / Sq Mi
$99,702
Median Household Income
$68,849
Median Earnings
$1,708
Median Rent
$452,200
Median Home Value
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?
Triplex - Residential income property with three two-bedroom apartments in Philadelphia’s Passyunk Square neighborhood.
Where is this triplex located?
The property is located at 1414 Dickinson Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Three residential units, each with 2 bedrooms and 1 bathroom; 2,305‑square‑foot multifamily building constructed in 1923; Fully occupied triplex at 1414 Dickinson Street
