Residential Income Property with
For Sale
$290,000
1431 N 5TH STREET Unit 3, Philadelphia, PA 19122
Bi-level residence with dedicated off-street parking, updated flooring, and access to shared outdoor amenities.
Property Size1,023 SF
Days on Market104
Property Features for 1431 N 5TH STREET Unit 3
General Information
Standard status
Active
Size
1,023 SF
Total Parking Spaces
2
Property subtype
Unit/Flat/Apartment
Units
Multifamily Units
1
Parking per Unit
2
Taxes and HOA fees
Annual Taxes
$583
Amenities
patio
rooftop deck
Building Details
Building Size
1,023 SF
Year Built
2017
Listing Agency:
Redfin Corporation
Listed By:
Monica Sharma · License #RS362349
(215) 508-7966
Source:
Patmckennarealtors
Added: Jun 11
Changed: Sep 20
Last Checked: Sep 21 at 8:47AM
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 Redfin Corporation
Investment Insights
Based on property information with market context.
This bi-level residential income property offers a two-bedroom layout with an open main level, soaring ceilings, hardwood flooring, oversized windows, and park views. The kitchen includes custom cabinetry, upgraded GE appliances, and a built-in Keurig system, while a stackable washer and dryer is positioned on the main floor. Both bedrooms include oversized windows and custom closet shelving, and the shared hall bathroom features a glass-enclosed walk-in shower with a built-in bench. New flooring has been installed throughout the downstairs, and the property also includes a new hot water heater and a new stormwater storage system.
The residence is located at 1431 N 5th Street in Philadelphia’s Olde Kensington neighborhood. Dedicated off-street parking provides direct access to the unit. Residents also have use of a ground-level patio and a rooftop deck with city views. Neighborhood destinations identified in the property information include Helm, Stateside Vodka, and local dog parks.
The residence is located at 1431 N 5th Street in Philadelphia’s Olde Kensington neighborhood. Dedicated off-street parking provides direct access to the unit. Residents also have use of a ground-level patio and a rooftop deck with city views. Neighborhood destinations identified in the property information include Helm, Stateside Vodka, and local dog parks.
Key Highlights
- Two‑bedroom bi‑level layout with open‑concept main level
- Dedicated off‑street parking with direct unit access
- New flooring throughout the downstairs
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
$16,091
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
5.55%
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%
$321,820
$321.8K
Cap Rate 7%
$229,871
$229.9K
Cap Rate 9%
$178,789
$178.8K
Market Conditions
NOI Build-Up for 1,023 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
$31.1K $30.36/SF
− Vacancy
−$1.8K −$1.76/SF
EGI
$29.3K $28.60/SF
− OpEx
−$13.2K −$12.87/SF
NOI
$16.1K $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%
$321,820
Cap Rate 7%
$229,871
Cap Rate 9%
$178,789
Alternative Uses
Best Use
Apartment 5plus
$229.9K
$201.1K – $268.2K
NOI $16,091 @ 7.0% cap · market cap 5.55%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$249.4K
$218.2K – $291.0K
NOI $17,457 @ 7.0% cap · market cap 6.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,090
Businesses Nearby
Explore this area
Business Placement
Demographics for 19122, PA
26,668
Population
10,139
Households
2.6
Avg Household Size
28
Median Age
42%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
20,514
Density / Sq Mi
$57,785
Median Household Income
$31,871
Median Earnings
$1,294
Median Rent
$341,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Bi-level residence with dedicated off-street parking, updated flooring, and access to shared outdoor amenities.
Where is this residential income property located?
The property is located at 1431 N 5TH STREET Unit 3 Philadelphia, PA.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Two‑bedroom bi‑level layout with open‑concept main level; Dedicated off‑street parking with direct unit access; New flooring throughout the downstairs
