Loft-Style Studio Income
For Sale
$329,000
1519 PINE STREET Unit 4, Philadelphia, PA 19102
Historic brownstone unit with in-unit laundry and an efficient open living arrangement.
Property Size615 SF
Days on Market112
Property Features for 1519 PINE STREET Unit 4
General Information
Standard status
Active
Size
615 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x studio
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$4,344
Amenities
hardwood floors
plantation shutters
lofted studio bedroom
custom closets
in-unit laundry
Building Details
Building Size
615 SF
Year Built
1900
Construction
brownstone
Listing Agency:
Iron Valley Real Estate of Lehigh Valley
Listed By:
Christa Ward · License #RS355230
(267) 664-2180
Source:
Patmckennarealtors
Added: May 21
Changed: Aug 30
Last Checked: Sep 8 at 11:00AM
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 Iron Valley Real Estate of Lehigh Valley
Investment Insights
Based on property information with market context.
Unit 4 is a loft-style studio within a brownstone built in 1900. The interior includes hardwood flooring, oversized windows with plantation shutters, and a raised sleeping area that separates the bedroom from the living space. A kitchen with substantial cabinet storage connects directly to the main room, while custom closets add organized storage and in-unit laundry supports everyday convenience. The bathroom has been maintained, and the building retains its historic architectural character.
The property is on Pine Street near Rittenhouse Square in Philadelphia. Restaurants, cafes, boutiques, and parks are nearby, with public transportation, universities, hospitals, and downtown employers also accessible from the surrounding Center City area.
The property is on Pine Street near Rittenhouse Square in Philadelphia. Restaurants, cafes, boutiques, and parks are nearby, with public transportation, universities, hospitals, and downtown employers also accessible from the surrounding Center City area.
Key Highlights
- Lofted sleeping area creates separation within the studio layout
- Brownstone building constructed in 1900
- Hardwood floors and oversized windows with plantation shutters
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
$9,674
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
2.94%
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%
$193,480
$193.5K
Cap Rate 7%
$138,200
$138.2K
Cap Rate 9%
$107,489
$107.5K
Market Conditions
NOI Build-Up for 615 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
$18.7K $30.36/SF
− Vacancy
−$1.1K −$1.76/SF
EGI
$17.6K $28.60/SF
− OpEx
−$7.9K −$12.87/SF
NOI
$9.7K $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%
$193,480
Cap Rate 7%
$138,200
Cap Rate 9%
$107,489
Alternative Uses
Best Use
Apartment 5plus
$138.2K
$120.9K – $161.2K
NOI $9,674 @ 7.0% cap · market cap 2.94%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$149.9K
$131.2K – $174.9K
NOI $10,495 @ 7.0% cap · market cap 3.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
23,698
Businesses Nearby
Explore this area
Business Placement
Demographics for 19102, PA
7,568
Population
4,606
Households
1.6
Avg Household Size
32
Median Age
87%
College-Educated
98%
High-School Grad
0.2 sq mi
ZIP Area
37,840
Density / Sq Mi
$114,844
Median Household Income
$79,552
Median Earnings
$2,249
Median Rent
$412,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Historic brownstone unit with in-unit laundry and an efficient open living arrangement.
Where is this residential income property located?
The property is located at 1519 PINE STREET Unit 4 Philadelphia, PA.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: Lofted sleeping area creates separation within the studio layout; Brownstone building constructed in 1900; Hardwood floors and oversized windows with plantation shutters
