Renovated Two-Unit
For Sale
$489,000
151 Parker Ave, Philadelphia, PA 19128
Both residences include in-unit laundry, while one offers a 2022 renovation and rear deck.
Property Size1,872 SF
Price / SF$261.22
Days on Market33
Property Features for 151 Parker Ave
General Information
Standard status
Active
Size
1,872 SF
Total Parking Spaces
2
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,024
Amenities
in-unit laundry
rear deck
storage shed
backyard
Building Details
Buildings
1
Listing Agency:
DRG Philly
(570) 994-6620
Listed By:
Jon Sanborn · License #RS337270
(570) 994-6620
Source:
Exprealty
Added: Jul 10
Changed: Aug 10
Last Checked: Aug 11 at 9:45AM
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 DRG Philly
Investment Insights
Based on property information with market context.
This corner duplex contains two 2-bedroom, 1-bathroom residences with practical layouts, generous closet storage, and laundry within each unit. The 1,872-square-foot property includes a substantially renovated Unit B completed in 2022, featuring an oversized kitchen, updated bathroom, new flooring, new HVAC, a rear deck, and new appliances. Unit A has newer flooring and an updated kitchen backsplash.
Outdoor features include an expansive backyard, storage shed, and views directly toward Germany Hill Park. A driveway provides off-street parking for two vehicles. The property is positioned on the border of Manayunk and Roxborough, with Ivy Ridge Train Station two blocks away and Main Street Manayunk shops, restaurants, and nightlife within a 20-minute walk.
Outdoor features include an expansive backyard, storage shed, and views directly toward Germany Hill Park. A driveway provides off-street parking for two vehicles. The property is positioned on the border of Manayunk and Roxborough, with Ivy Ridge Train Station two blocks away and Main Street Manayunk shops, restaurants, and nightlife within a 20-minute walk.
Key Highlights
- Two 2‑bedroom, 1‑bathroom units within a 1,872‑square‑foot duplex
- Unit B renovated in 2022 with new HVAC, appliances, flooring, bathroom, kitchen, and rear deck
- Unit A includes newer flooring and a refreshed kitchen backsplash
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
$31,945
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
6.53%
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%
$638,900
$638.9K
Cap Rate 7%
$456,357
$456.4K
Cap Rate 9%
$354,944
$354.9K
Market Conditions
NOI Build-Up for 1,872 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
$48.3K $25.80/SF
− Vacancy
−$2.7K −$1.42/SF
EGI
$45.6K $24.38/SF
− OpEx
−$13.7K −$7.31/SF
NOI
$31.9K $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%
$638,900
Cap Rate 7%
$456,357
Cap Rate 9%
$354,944
Alternative Uses
Best Use
Multifamily LT 5
$456.4K
$399.3K – $532.4K
NOI $31,945 @ 7.0% cap · market cap 6.53%
Second Best
Apartment 5plus
$420.7K
$368.1K – $490.8K
NOI $29,446 @ 7.0% cap · market cap 6.02%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
620
Businesses Nearby
Explore this area
Business Placement
Demographics for 19128, PA
36,808
Population
19,006
Households
1.9
Avg Household Size
36
Median Age
55%
College-Educated
95%
High-School Grad
7.0 sq mi
ZIP Area
5,258
Density / Sq Mi
$89,639
Median Household Income
$64,861
Median Earnings
$1,563
Median Rent
$330,800
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 - Both residences include in-unit laundry, while one offers a 2022 renovation and rear deck.
Where is this duplex located?
The property is located at 151 Parker Ave Philadelphia, PA.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bathroom units within a 1,872‑square‑foot duplex; Unit B renovated in 2022 with new HVAC, appliances, flooring, bathroom, kitchen, and rear deck; Unit A includes newer flooring and a refreshed kitchen backsplash
