Updated 2-Bedroom Income
For Sale
$280,000
1504 MOUNT VERNON STREET Unit 3, Philadelphia, PA 19130
Updated kitchen features granite countertops, stainless steel appliances, and generous cabinet storage.
Property Size794 SF
Days on Market98
Property Features for 1504 MOUNT VERNON STREET Unit 3
General Information
Standard status
Active
Size
794 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,486
Amenities
on-site laundry
common courtyard
private storage
Building Details
Building Size
794 SF
Year Built
1900
Listing Agency:
Century 21 Advantage Gold-South Philadelphia
Listed By:
William F Kwasniewski · License #RS319238
(610) 496-0417
Source:
Patmckennarealtors
Added: Jun 3
Changed: Aug 28
Last Checked: Sep 8 at 10:06AM
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 Century 21 Advantage Gold-South Philadelphia
Investment Insights
Based on property information with market context.
This residential income property is a 2-bedroom, 1-bath condominium unit in a 1900-built building. The interior has hardwood flooring, an open layout, large windows, and two bedrooms with substantial closet space. Kitchen improvements include granite countertops, stainless steel appliances, and ample cabinetry. The unit also includes private basement storage and access to on-site laundry.
Residents have use of a shared courtyard suited to outdoor dining and barbecuing. The property is in Philadelphia’s Fairmount neighborhood, near Osteria, Bar Hygge, Jack’s Firehouse, the Philadelphia Museum of Art, Eastern State Penitentiary, and Fairmount Park. Public transportation is readily accessible, with connections to Center City and nearby I-76 and I-676.
Residents have use of a shared courtyard suited to outdoor dining and barbecuing. The property is in Philadelphia’s Fairmount neighborhood, near Osteria, Bar Hygge, Jack’s Firehouse, the Philadelphia Museum of Art, Eastern State Penitentiary, and Fairmount Park. Public transportation is readily accessible, with connections to Center City and nearby I-76 and I-676.
Key Highlights
- 2‑bedroom, 1‑bath condominium unit
- Updated kitchen with granite countertops and stainless steel appliances
- Hardwood floors, open layout, and large windows
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
$12,489
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
4.46%
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%
$249,780
$249.8K
Cap Rate 7%
$178,414
$178.4K
Cap Rate 9%
$138,767
$138.8K
Market Conditions
NOI Build-Up for 794 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
$24.1K $30.36/SF
− Vacancy
−$1.4K −$1.76/SF
EGI
$22.7K $28.60/SF
− OpEx
−$10.2K −$12.87/SF
NOI
$12.5K $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%
$249,780
Cap Rate 7%
$178,414
Cap Rate 9%
$138,767
Alternative Uses
Best Use
Apartment 5plus
$178.4K
$156.1K – $208.2K
NOI $12,489 @ 7.0% cap · market cap 4.46%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$193.6K
$169.4K – $225.8K
NOI $13,550 @ 7.0% cap · market cap 4.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,455
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated kitchen features granite countertops, stainless steel appliances, and generous cabinet storage.
Where is this residential income property located?
The property is located at 1504 MOUNT VERNON STREET Unit 3 Philadelphia, PA.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: 2‑bedroom, 1‑bath condominium unit; Updated kitchen with granite countertops and stainless steel appliances; Hardwood floors, open layout, and large windows
