Residential Income Property with
New
For Sale
$139,900
1601 SPRING GARDEN STREET Unit 205, Philadelphia, PA 19130
One-bedroom residence in an 1832 building with secure amenities and access to major cultural and recreational destinations.
Property Size543 SF
Price / SF$257.64
Days on Market5
Property Features for 1601 SPRING GARDEN STREET Unit 205
General Information
Standard status
Active
Size
543 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,463
Amenities
24-hour security
concierge service
fitness center
basement storage
secure bike room
Building Details
Building Size
543 SF
Year Built
1832
Listing Agency:
Compass Pennsylvania, LLC
Listed By:
Matthew J Aragona · License #RS317907
(610) 745-3211
Source:
Patmckennarealtors
Added: Sep 4
Changed: Sep 6
Last Checked: Sep 7 at 8:20AM
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.
Unit 205 is a one-bedroom, one-bath residential income property offering 543 square feet of living space. Oversized windows, high ceilings, and generous storage contribute to the unit’s interior layout. The 1832 building provides 24-hour security, concierge service, a fitness center, basement storage, and a secure bike room.
The property is near the Philadelphia Museum of Art, Barnes Foundation, Kelly Drive, and Boathouse Row. Shopping, dining, nightlife, public transportation, and top universities are also identified nearby, placing the residence within a broad mix of cultural, recreational, and daily-use destinations.
The property is near the Philadelphia Museum of Art, Barnes Foundation, Kelly Drive, and Boathouse Row. Shopping, dining, nightlife, public transportation, and top universities are also identified nearby, placing the residence within a broad mix of cultural, recreational, and daily-use destinations.
Key Highlights
- 543‑square‑foot one‑bedroom, one‑bath unit
- Building dates to 1832
- 24‑hour security and concierge service
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
$8,541
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
6.11%
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%
$170,820
$170.8K
Cap Rate 7%
$122,014
$122.0K
Cap Rate 9%
$94,900
$94.9K
Market Conditions
NOI Build-Up for 543 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
$16.5K $30.36/SF
− Vacancy
−$956 −$1.76/SF
EGI
$15.5K $28.60/SF
− OpEx
−$7.0K −$12.87/SF
NOI
$8.5K $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%
$170,820
Cap Rate 7%
$122,014
Cap Rate 9%
$94,900
Alternative Uses
Best Use
Apartment 5plus
$122.0K
$106.8K – $142.4K
NOI $8,541 @ 7.0% cap · market cap 6.11%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$132.4K
$115.8K – $154.4K
NOI $9,266 @ 7.0% cap · market cap 6.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
6,435
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
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 - One-bedroom residence in an 1832 building with secure amenities and access to major cultural and recreational destinations.
Where is this residential income property located?
The property is located at 1601 SPRING GARDEN STREET Unit 205 Philadelphia, PA.
What is the asking price?
The asking price for this property is $139,900.
What are key features of this property?
This property features: 543‑square‑foot one‑bedroom, one‑bath unit; Building dates to 1832; 24‑hour security and concierge service
