Updated Frankford
For Sale
$229,000
1615 Dyre St, Philadelphia, PA 19124
Duplex with updated units, including fresh finishes and mechanical improvements, near Frankford Avenue.
Property Size1,564 SF
Price / SF$146.42
Days on Market96
Property Features for 1615 Dyre St
General Information
Standard status
Active
Size
1,564 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Kensington
Building Details
Year Built
1945
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
HomeSmart Realty Advisors
Listed By:
Deborah E Nye · License #RS313203
(610) 202-1141
Source:
Upgradebymichaud
Added: Jul 28
Changed: Oct 26
Last Checked: Oct 30 at 6:55PM
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 HomeSmart Realty Advisors
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Investment Insights
Based on property information with market context.
This duplex offers two updated units with practical flexibility for investors or owner-occupants. Both units have been refreshed with fresh paint, new flooring, and mechanical improvements, along with cosmetic upgrades designed to support immediate occupancy.
The first-floor unit features a restored original tile fireplace and a brand-new kitchen, plus a flexible layout with the potential to create a separate efficiency or in-law space with its own private entrance. The second-floor unit provides three bedrooms and is currently configured for co-living, with the option to be rented as a traditional apartment.
Built in 1945, the property is located just steps from Frankford Avenue, with convenient access to public transportation, shopping, restaurants, and everyday conveniences. The total property size is 1,564 SF.
The first-floor unit features a restored original tile fireplace and a brand-new kitchen, plus a flexible layout with the potential to create a separate efficiency or in-law space with its own private entrance. The second-floor unit provides three bedrooms and is currently configured for co-living, with the option to be rented as a traditional apartment.
Built in 1945, the property is located just steps from Frankford Avenue, with convenient access to public transportation, shopping, restaurants, and everyday conveniences. The total property size is 1,564 SF.
Key Highlights
- Duplex in updated condition with fresh paint, new flooring, and mechanical improvements
- First‑floor unit includes restored original tile fireplace and brand‑new kitchen
- First‑floor layout offers potential separate efficiency or in‑law space with private entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,153
Cap Rate
8.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$403,060
$403.1K
Cap Rate 7%
$287,900
$287.9K
Cap Rate 9%
$223,922
$223.9K
Market Conditions
NOI Build-Up for 1,564 SF
Gross rent
$31.0K $19.80/SF
− Vacancy
−$2.2K −$1.39/SF
EGI
$28.8K $18.41/SF
− OpEx
−$8.6K −$5.52/SF
NOI
$20.2K $12.89/SF
Area
ZIP 19124
Vacancy
7.03%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$403,060
Cap Rate 7%
$287,900
Cap Rate 9%
$223,922
Alternative Uses
Best Use
Multifamily LT 5
$287.9K
$251.9K – $335.9K
NOI $20,153 @ 7.0% cap · market cap 8.80%
Second Best
Apartment 5plus
$264.9K
$231.8K – $309.1K
NOI $18,544 @ 7.0% cap · market cap 8.10%
Theoretical Best
Specialty Retail
$899.6K
$787.2K – $1.05M
NOI $62,974 @ 7.0% cap · market cap 27.50%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,447
Businesses Nearby
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Business Placement
Demographics for 19124, PA
68,766
Population
27,014
Households
2.5
Avg Household Size
33
Median Age
15%
College-Educated
80%
High-School Grad
5.1 sq mi
ZIP Area
13,484
Density / Sq Mi
$46,100
Median Household Income
$35,364
Median Earnings
$1,063
Median Rent
$155,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Duplex with updated units, including fresh finishes and mechanical improvements, near Frankford Avenue.
Where is this duplex located?
The property is located at 1615 Dyre St Philadelphia, PA.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: Duplex in updated condition with fresh paint, new flooring, and mechanical improvements; First‑floor unit includes restored original tile fireplace and brand‑new kitchen; First‑floor layout offers potential separate efficiency or in‑law space with private entrance
