Residential Income Property with High
For Sale
$179,900
1529 GREEN STREET Unit C, Philadelphia, PA 19130
Condo unit with an open living area, in-unit laundry, basement storage, and access to professional building management.
Property Size556 SF
Days on Market55
Property Features for 1529 GREEN STREET Unit C
General Information
Standard status
Active
Size
556 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$2,495
Amenities
pet-friendly
professionally managed
central air
in-unit laundry
designated basement storage
decorative fireplace
jetted tub
recessed lighting
Building Details
Building Size
556 SF
Year Built
1900
Listing Agency:
Elfant Wissahickon-Rittenhouse Square
Listed By:
Holly Mack-Ward · License #RS280577
(215) 866-0037
Source:
Patmckennarealtors
Added: Jul 29
Changed: Sep 17
Last Checked: Sep 20 at 10:51AM
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 Elfant Wissahickon-Rittenhouse Square
Investment Insights
Based on property information with market context.
Unit C is a condominium residence in a professionally managed, pet-friendly building constructed in 1900. The interior combines an open main living area with recessed lighting, a decorative fireplace, oversized windows, and original woodwork. The kitchen includes cabinet storage, a dishwasher, and a window, while the bedroom offers oak flooring, extensive closets with custom organizers, and two large windows. A bathroom with cream hex tile and a jetted tub adds period character. Central air, an in-unit laundry closet, and designated basement storage complete the layout.
The property sits on a tree-lined block in Philadelphia’s Art Museum area. The Broad Street Line is two blocks away, and the Vine Street Expressway provides a nearby commuter connection. The location is also described as highly walkable, with the unit positioned near the Parkway.
The property sits on a tree-lined block in Philadelphia’s Art Museum area. The Broad Street Line is two blocks away, and the Vine Street Expressway provides a nearby commuter connection. The location is also described as highly walkable, with the unit positioned near the Parkway.
Key Highlights
- Condominium unit in a professionally managed, pet‑friendly building
- Built in 1900 with original woodwork and oversized windows
- Open living area with recessed lighting and decorative fireplace
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
$8,746
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
4.86%
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%
$174,920
$174.9K
Cap Rate 7%
$124,943
$124.9K
Cap Rate 9%
$97,178
$97.2K
Market Conditions
NOI Build-Up for 556 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
$16.9K $30.36/SF
− Vacancy
−$979 −$1.76/SF
EGI
$15.9K $28.60/SF
− OpEx
−$7.2K −$12.87/SF
NOI
$8.7K $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%
$174,920
Cap Rate 7%
$124,943
Cap Rate 9%
$97,178
Alternative Uses
Best Use
Apartment 5plus
$124.9K
$109.3K – $145.8K
NOI $8,746 @ 7.0% cap · market cap 4.86%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$135.5K
$118.6K – $158.1K
NOI $9,488 @ 7.0% cap · market cap 5.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,455
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Condo unit with an open living area, in-unit laundry, basement storage, and access to professional building management.
Where is this residential income property located?
The property is located at 1529 GREEN STREET Unit C Philadelphia, PA.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: Condominium unit in a professionally managed, pet‑friendly building; Built in 1900 with original woodwork and oversized windows; Open living area with recessed lighting and decorative fireplace
