Two-Bedroom Residential Income
New
For Sale
$335,000
1500 GREEN STREET Unit 4, Philadelphia, PA 19130
First-floor condominium with private gated outdoor space and updated mechanical systems.
Property Size912 SF
Days on Market4
Property Features for 1500 GREEN STREET Unit 4
General Information
Standard status
Active
Size
912 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,023
Building Details
Building Size
912 SF
Year Built
1900
Listing Agency:
RE/MAX Of Reading
Listed By:
Karlie M Werner · License #RS355934
(610) 301-1278
Source:
Patmckennarealtors
Added: Sep 18
Changed: Sep 20
Last Checked: Sep 20 at 11:46AM
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 Of Reading
Investment Insights
Based on property information with market context.
This first-floor condominium offers a two-bedroom, two-bath layout within a residential income property classification. The unit has been freshly painted and includes updated bathrooms, tile flooring, a newer dishwasher, and a primary bedroom with a walk-in closet. Heating and air-conditioning systems have also been replaced.
A rear entrance leads to a gated private yard suitable for outdoor use. The property is located in Philadelphia’s Art Museum/Spring Garden area, one block from the Broad Street Line and near Center City, the Art Museum area, shopping, dining, entertainment, I-76, and I-95.
A rear entrance leads to a gated private yard suitable for outdoor use. The property is located in Philadelphia’s Art Museum/Spring Garden area, one block from the Broad Street Line and near Center City, the Art Museum area, shopping, dining, entertainment, I-76, and I-95.
Key Highlights
- Two‑bedroom, two‑full‑bath first‑floor condominium
- Private gated rear yard accessed from the unit
- New heating and AC systems
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
$14,345
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
4.28%
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%
$286,900
$286.9K
Cap Rate 7%
$204,929
$204.9K
Cap Rate 9%
$159,389
$159.4K
Market Conditions
NOI Build-Up for 912 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
$27.7K $30.36/SF
− Vacancy
−$1.6K −$1.76/SF
EGI
$26.1K $28.60/SF
− OpEx
−$11.7K −$12.87/SF
NOI
$14.3K $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%
$286,900
Cap Rate 7%
$204,929
Cap Rate 9%
$159,389
Alternative Uses
Best Use
Apartment 5plus
$204.9K
$179.3K – $239.1K
NOI $14,345 @ 7.0% cap · market cap 4.28%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$222.3K
$194.5K – $259.4K
NOI $15,563 @ 7.0% cap · market cap 4.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
6,402
Businesses Nearby
Explore this area
Business Placement
Demographics for 19130, PA
31,477
Population
18,178
Households
1.7
Avg Household Size
34
Median Age
78%
College-Educated
98%
High-School Grad
1.2 sq mi
ZIP Area
26,231
Density / Sq Mi
$110,436
Median Household Income
$76,051
Median Earnings
$1,836
Median Rent
$483,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - First-floor condominium with private gated outdoor space and updated mechanical systems.
Where is this residential income property located?
The property is located at 1500 GREEN STREET Unit 4 Philadelphia, PA.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: Two‑bedroom, two‑full‑bath first‑floor condominium; Private gated rear yard accessed from the unit; New heating and AC systems
