Three-Story Triplex with Separate
For Sale
$575,000
1432 West Porter Street, Philadelphia, PA 19145
Three residential units include two vacancies and one apartment occupied under a lease ending June 30, 2026.
Property Size2,016 SF
Price / SF$285.22
Days on Market193
Property Features for 1432 West Porter Street
General Information
Standard status
Active
Size
2,016 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RSA5
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/2BA, 2 x 2BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,666
Amenities
No
https://www.zillow.com/view-imx/695da48b-f330-42c0-b43a-67a809dce244?wl=true&setAttribution=mls&initialViewType=pano
No Pool
Above Grade, Below Grade
Building Details
Year Built
1920
Buildings
1
Stories
3
Listing Agency:
RE/MAX ONE Realty-Moorestown
(267) 975-5470
Listed By:
Meghan Klauder · License #138837
(267) 975-5470
Source:
Compass
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 1:46PM
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 RE/MAX ONE Realty-Moorestown
Investment Insights
Based on property information with market context.
This three-story triplex contains 2,016 square feet across three two-bedroom apartments. The unit mix includes one two-bath residence and two one-bath residences. Unit 1 is vacant and offers living and dining areas, an upgraded kitchen, and a full-size washer and dryer. Unit 2 is occupied through June 30, 2026, with kitchen and living areas plus a combination washer/dryer. Unit 3 is vacant and includes a living area, kitchen, and combination washer/dryer.
Each apartment has separate gas and electric metering. Recent property improvements include two new boilers installed in 2025, a new breezeway roof completed in 2026, and a newer main roof from 2023. The property is zoned RSA5 and sits one block off Broad Street, with access to the Broad St Line.
Each apartment has separate gas and electric metering. Recent property improvements include two new boilers installed in 2025, a new breezeway roof completed in 2026, and a newer main roof from 2023. The property is zoned RSA5 and sits one block off Broad Street, with access to the Broad St Line.
Key Highlights
- Three‑story triplex with 2,016 square feet
- Three 2‑bedroom units with a 2‑bath/1‑bath/1‑bath mix
- Two units vacant; one occupied through June 30, 2026
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
$34,403
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
5.98%
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%
$688,060
$688.1K
Cap Rate 7%
$491,471
$491.5K
Cap Rate 9%
$382,256
$382.3K
Market Conditions
NOI Build-Up for 2,016 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
$52.0K $25.80/SF
− Vacancy
−$2.9K −$1.42/SF
EGI
$49.1K $24.38/SF
− OpEx
−$14.7K −$7.31/SF
NOI
$34.4K $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%
$688,060
Cap Rate 7%
$491,471
Cap Rate 9%
$382,256
Alternative Uses
Best Use
Multifamily LT 5
$491.5K
$430.0K – $573.4K
NOI $34,403 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$453.0K
$396.4K – $528.5K
NOI $31,711 @ 7.0% cap · market cap 5.51%
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
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,976
Businesses Nearby
Explore this area
Business Placement
Demographics for 19145, PA
47,079
Population
21,295
Households
2.2
Avg Household Size
38
Median Age
36%
College-Educated
89%
High-School Grad
4.8 sq mi
ZIP Area
9,808
Density / Sq Mi
$70,374
Median Household Income
$45,940
Median Earnings
$1,343
Median Rent
$290,100
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 residential units include two vacancies and one apartment occupied under a lease ending June 30, 2026.
Where is this triplex located?
The property is located at 1432 West Porter Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Three‑story triplex with 2,016 square feet; Three 2‑bedroom units with a 2‑bath/1‑bath/1‑bath mix; Two units vacant; one occupied through June 30, 2026
