Income-Producing Duplex in Prime
For Sale
$419,900
1506 West Porter Street, Philadelphia, PA 19145
Well-maintained duplex with modern finishes in a desirable neighborhood.
Property Size2,116 SF
Price / SF$198.44
Days on Market92
Property Features for 1506 West Porter Street
General Information
Standard status
Active
Size
2,116 SF
Property subtype
Multi-Family / Fee Simple
Building Details
Year Built
1920
Listing Agency:
Alpha Realty Group
(215) 460-5147
Listed By:
Grace G DeGregorio · License #RS278275
(215) 460-5147
Source:
Compass
Added: May 1
Changed: Jul 10
Last Checked: Jul 31 at 11:03AM
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 Alpha Realty Group
Investment Insights
Based on property information with market context.
This three-story duplex presents a rare opportunity for investors or owner-occupants. Located in a sought-after neighborhood, the property features two luxuriously sized bi-level one-bedroom units, each with separate entrances. Unit 1 includes a full finished basement and rear yard. Unit 2 has been fully remodeled in 2026 and offers the possibility of building a roof deck on the third floor. An indoor common area porch serves both units. The layouts are bright and spacious, offering city views and modern finishes. Both units are equipped with central air, as well as a washer and dryer. The entire property was rehabbed approximately in 2010, with the second unit fully refurbished in 2026. The property is well-maintained and turn-key, with separate utilities. Newer roof and rebuilt front steps add to the property's appeal. Situated on a desirable block, the duplex is steps away from the Broad Street Line and popular dining spots such as Heavy Metal Sausage, Homegrown Coffee, L’Angolo, and Scannicchio’s BYOB's. It is also a short walk to Passyunk Ave, Marconi Park, and Stadiums. The property size is 2116 square feet.
Key Highlights
- Income‑producing duplex in a desirable neighborhood, offering the option to live in one unit and rent the other.
- Two spacious bi‑level 1‑bedroom units with modern finishes and separate entrances.
- Unit 1 features a full finished basement and rear yard; Unit 2 was fully remodeled in 2026.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.6k | $25.80 |
| − Vacancy | −$3.0k | −$1.42 |
| EGI | $51.6k | $24.38 |
| − OpEx | −$15.5k | −$7.31 |
| NOI | $36.1k | $17.06 |
2,116 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$515.8K
$451.4K – $601.8K
NOI $36,109 @ 7.0% cap · market cap 8.60%
Second Best
Apartment 5plus
$475.5K
$416.1K – $554.7K
NOI $33,284 @ 7.0% cap · market cap 7.93%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
756
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
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex with modern finishes in a desirable neighborhood.
Where is this duplex located?
The property is located at 1506 West Porter Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $419,900.
What are key features of this property?
This property features: Income‑producing duplex in a desirable neighborhood, offering the option to live in one unit and rent the other.; Two spacious bi‑level 1‑bedroom units with modern finishes and separate entrances.; Unit 1 features a full finished basement and rear yard; Unit 2 was fully remodeled in 2026.
