Bi-Level Residential Income
For Sale
$455,000
1517 BROWN STREET Unit 1, Philadelphia, PA 19130
Updated condominium with flexible living space, private patio, smart-home features, and convenient access to public transportation.
Property Size1,820 SF
Days on Market17
Property Features for 1517 BROWN STREET Unit 1
General Information
Standard status
Active
Size
1,820 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$2,949
Building Details
Building Size
1,820 SF
Year Built
2016
Listing Agency:
Compass Pennsylvania, LLC
Listed By:
Benjamin Edward Hearn · License #RS346248
(267) 603-5851
Source:
Patmckennarealtors
Added: Aug 24
Changed: Sep 5
Last Checked: Sep 8 at 10:29AM
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 Compass Pennsylvania, LLC
Investment Insights
Based on property information with market context.
This 3-bedroom, 3-full-bath bi-level condominium, built in 2016, offers over 1800sqft of living space. The main level features hardwood flooring, recessed lighting, an open kitchen with quartz counters and a breakfast bar, plus sliders opening to a private patio finished with turf grass. A bright bedroom on this level can also function as a private office.
The lower level includes 9" ceilings, large windows, a primary suite with a walk-in closet and double-vanity bathroom, and a third bedroom with its own en-suite bath. A dedicated laundry room provides additional storage. Double-pane windows, Google Nest equipment, a security system, and integrated fire suppression are included. Center city bus and subway service are within 2 blocks, while Rittenhouse Square is a 20 minute walk away.
The lower level includes 9" ceilings, large windows, a primary suite with a walk-in closet and double-vanity bathroom, and a third bedroom with its own en-suite bath. A dedicated laundry room provides additional storage. Double-pane windows, Google Nest equipment, a security system, and integrated fire suppression are included. Center city bus and subway service are within 2 blocks, while Rittenhouse Square is a 20 minute walk away.
Key Highlights
- 3‑bedroom, 3‑full‑bath bi‑level condominium with over 1800sqft
- Open kitchen with quartz countertops and breakfast bar
- Private patio with turf grass
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
$28,628
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
6.29%
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%
$572,560
$572.6K
Cap Rate 7%
$408,971
$409.0K
Cap Rate 9%
$318,089
$318.1K
Market Conditions
NOI Build-Up for 1,820 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
$55.3K $30.36/SF
− Vacancy
−$3.2K −$1.76/SF
EGI
$52.1K $28.60/SF
− OpEx
−$23.4K −$12.87/SF
NOI
$28.6K $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%
$572,560
Cap Rate 7%
$408,971
Cap Rate 9%
$318,089
Alternative Uses
Best Use
Apartment 5plus
$409.0K
$357.9K – $477.1K
NOI $28,628 @ 7.0% cap · market cap 6.29%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$443.7K
$388.2K – $517.6K
NOI $31,058 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,089
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 - Updated condominium with flexible living space, private patio, smart-home features, and convenient access to public transportation.
Where is this residential income property located?
The property is located at 1517 BROWN STREET Unit 1 Philadelphia, PA.
What is the asking price?
The asking price for this property is $455,000.
What are key features of this property?
This property features: 3‑bedroom, 3‑full‑bath bi‑level condominium with over 1800sqft; Open kitchen with quartz countertops and breakfast bar; Private patio with turf grass
