Two-Unit Duplex with Updated
New
For Sale
$370,000
1514 WOLF Street, Philadelphia, PA 19145
Multi-Family, PHILADELPHIA, PA
Property Size1,728 SF
Lot Size0.02 Acres
Price / SF$214.12
Days on Market2
Property Features for 1514 WOLF Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
On Street
Subdivision
SOUTH VIEW
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Standard status
Active
Size
1,728 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
4668
Utilities
Heating system
Forced Air
Cooling system
Wall Unit(s)
Amenities
in-unit laundry
updated kitchens
granite countertops
tile backsplashes
stainless steel appliances
shaker-style cabinetry
updated bathrooms
natural light
Building Details
Year built
1920
Number of units
2
Building materials
Masonry
Listing Agency:
Keller Williams Main Line · Keller Williams Realty
(610) 520-0100
Listed By:
Aaron Wallace · License #RS341458
(610) 931-6396
Added: Sep 13
Last Checked: Sep 14 at 10:06AM
MLS# PAPH2669132
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,728-square-foot masonry duplex contains two separate two-bedroom residences arranged across the first and second floors. Both units feature modern flooring, generous living areas, updated kitchens with shaker-style cabinets, granite countertops, tile backsplashes, and stainless steel appliances. Each residence also includes in-unit laundry, an updated full bathroom, and natural light. The property was built in 1920 and includes a basement, forced-air heating, wall-unit cooling, and on-street parking.
Set on a 0.022-acre corner lot at 1514 Wolf Street in Philadelphia, the property is near Broad Street, shopping, public transportation, and major roadways. Its two-unit layout and separate residential floors provide a straightforward multifamily configuration.
Set on a 0.022-acre corner lot at 1514 Wolf Street in Philadelphia, the property is near Broad Street, shopping, public transportation, and major roadways. Its two-unit layout and separate residential floors provide a straightforward multifamily configuration.
Key Highlights
- Two‑unit duplex with a two‑bedroom residence on each floor
- 1,728 square feet on a 0.022‑acre corner lot
- Updated kitchens with shaker‑style cabinetry, granite counters, tile backsplashes, and stainless steel appliances
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
$29,488
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
7.97%
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%
$589,760
$589.8K
Cap Rate 7%
$421,257
$421.3K
Cap Rate 9%
$327,644
$327.6K
Market Conditions
NOI Build-Up for 1,728 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
$44.6K $25.80/SF
− Vacancy
−$2.5K −$1.42/SF
EGI
$42.1K $24.38/SF
− OpEx
−$12.6K −$7.31/SF
NOI
$29.5K $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%
$589,760
Cap Rate 7%
$421,257
Cap Rate 9%
$327,644
Alternative Uses
Best Use
Multifamily LT 5
$421.3K
$368.6K – $491.5K
NOI $29,488 @ 7.0% cap · market cap 7.97%
Second Best
Apartment 5plus
$388.3K
$339.8K – $453.0K
NOI $27,181 @ 7.0% cap · market cap 7.35%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,419
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Corner duplex with two two-bedroom residences, in-unit laundry, and updated kitchens and bathrooms.
Where is this duplex located?
The property is located at 1514 WOLF Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: Two‑unit duplex with a two‑bedroom residence on each floor; 1,728 square feet on a 0.022‑acre corner lot; Updated kitchens with shaker‑style cabinetry, granite counters, tile backsplashes, and stainless steel appliances
