3-Unit Triplex with Central
New
For Sale
$699,990
1431 N 17TH ST, Philadelphia, PA 19121
Three separately metered apartments offer private laundry, tenant-paid utilities, and hardwood and tile finishes.
Property Size4,053 SF
Price / SF$172.71
Days on Market4
Property Features for 1431 N 17TH ST
General Information
Standard status
Active
Size
4,053 SF
Property subtype
Multi-Family
Occupancy
100%
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
3
Amenities
hardwood and tile floors
tiled showers and bathrooms
central AC
washer and dryer
Building Details
Year Built
2016
Buildings
1
Listing Agency:
Target Realty
(267) 234-4938
Listed By:
Xiao hui Fu · License #RS350117
(267) 234-4938
Source:
Careyrealtygroup
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 29 at 9:16AM
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 Target Realty
Investment Insights
Based on property information with market context.
Built in 2016, this 4,053-square-foot triplex contains three apartments with separate water and electric meters. Each unit has central AC, a kitchen, washer and dryer, and a combination of hardwood and tile flooring with tiled bathrooms and showers. All three apartments are currently tenant occupied.
The first residence spans the first floor and finished basement, with a backyard, five bedrooms, four full bathrooms, a living room, dining area, and kitchen. The second- and third-floor apartments each provide four bedrooms, four full bathrooms, a kitchen, and in-unit laundry.
The property at 1431 N 17TH ST is near Temple University, shopping, and public transportation, placing the triplex in a setting with access to neighborhood services and transit.
The first residence spans the first floor and finished basement, with a backyard, five bedrooms, four full bathrooms, a living room, dining area, and kitchen. The second- and third-floor apartments each provide four bedrooms, four full bathrooms, a kitchen, and in-unit laundry.
The property at 1431 N 17TH ST is near Temple University, shopping, and public transportation, placing the triplex in a setting with access to neighborhood services and transit.
Key Highlights
- 4,053‑square‑foot triplex constructed in 2016
- Three apartments, all currently tenant occupied
- First‑floor bi‑level apartment includes 5 bedrooms, 4 full baths, and backyard access
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
$63,752
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
9.11%
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%
$1,275,040
$1.3M
Cap Rate 7%
$910,743
$910.7K
Cap Rate 9%
$708,356
$708.4K
Market Conditions
NOI Build-Up for 4,053 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
$123.0K $30.36/SF
− Vacancy
−$7.1K −$1.76/SF
EGI
$115.9K $28.60/SF
− OpEx
−$52.2K −$12.87/SF
NOI
$63.8K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$1,275,040
Cap Rate 7%
$910,743
Cap Rate 9%
$708,356
Alternative Uses
Best Use
Multifamily LT 5
$988.1K
$864.6K – $1.15M
NOI $69,164 @ 7.0% cap · market cap 9.88%
Second Best
Apartment 5plus
$910.7K
$796.9K – $1.06M
NOI $63,752 @ 7.0% cap · market cap 9.11%
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
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,387
Businesses Nearby
Explore this area
Business Placement
Demographics for 19121, PA
41,799
Population
19,673
Households
2.1
Avg Household Size
28
Median Age
25%
College-Educated
84%
High-School Grad
2.4 sq mi
ZIP Area
17,416
Density / Sq Mi
$36,208
Median Household Income
$29,915
Median Earnings
$1,082
Median Rent
$250,100
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 - Three separately metered apartments offer private laundry, tenant-paid utilities, and hardwood and tile finishes.
Where is this triplex located?
The property is located at 1431 N 17TH ST Philadelphia, PA.
What is the asking price?
The asking price for this property is $699,990.
What are key features of this property?
This property features: 4,053‑square‑foot triplex constructed in 2016; Three apartments, all currently tenant occupied; First‑floor bi‑level apartment includes 5 bedrooms, 4 full baths, and backyard access
