Corner Duplex with Full
1583 Devereaux Avenue Philadelphia, PA 19149
For Sale
$272,000
Pending
Two-unit duplex on a large corner lot with a full basement, sold as-is and in need of updating.
Property Size1,583 SF
Days on Market12
Property Features for 1583 Devereaux Avenue
General Information
- Standard status
- Pending
- Size
- 1,583 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1950
Listing Agency:
Honest Real Estate
(267) 231-7212
Listed By:
Edward G Rogers · License #RM424065
(267) 231-7212
Source:
Compass
Added: Jul 13
Changed: Jul 22
Last Checked: Jul 23 at 9:42AM
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 Honest Real Estate
Investment Insights
Based on property information with market context.
This spacious duplex is currently configured as two residential units and includes a full basement that can support storage and utilities. The property sits on a large corner lot with outdoor space, offering flexibility for buyers looking to renovate or reposition the asset.
Sold strictly AS-IS, the buyer is responsible for all municipal certifications, inspections, repairs, and any due diligence regarding zoning, occupancy, and future use. The public remarks note the possibility of conversion to a three-unit property; however, buyers must verify feasibility and requirements with the municipality.
Conveniently located near shopping, public transportation, schools, and major roadways, this property is offered for investors, contractors, or owner-occupants seeking a value-add opportunity.
Sold strictly AS-IS, the buyer is responsible for all municipal certifications, inspections, repairs, and any due diligence regarding zoning, occupancy, and future use. The public remarks note the possibility of conversion to a three-unit property; however, buyers must verify feasibility and requirements with the municipality.
Conveniently located near shopping, public transportation, schools, and major roadways, this property is offered for investors, contractors, or owner-occupants seeking a value-add opportunity.
Key Highlights
- Duplex currently configured as two residential units
- Potential for conversion to a three‑unit property (buyer to verify with the municipality)
- Full basement provides additional storage and houses utilities
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $33.2k | $21.00 |
| − Vacancy | −$1.0k | −$0.66 |
| EGI | $32.2k | $20.34 |
| − OpEx | −$9.7k | −$6.10 |
| NOI | $22.5k | $14.24 |
1,583 SF · lease $21.00/SF/yr · vacancy 3.13% · expense 30.00%
Alternative Uses
Best Use
Apartment 5plus
$3.03M
$2.65M – $3.54M
NOI $212,163 @ 7.0% cap · market cap 78.00%
Second Best
Multifamily LT 5
$322.0K
$281.8K – $375.7K
NOI $22,542 @ 7.0% cap · market cap 8.29%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two-unit duplex on a large corner lot with a full basement, sold as-is and in need of updating.
Where is this duplex located?
The property is located at 1583 Devereaux Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $272,000.
What are key features of this property?
This property features: Duplex currently configured as two residential units; Potential for conversion to a three‑unit property (buyer to verify with the municipality); Full basement provides additional storage and houses utilities
