Renovated Duplex with Income
1619 Elaine Street Philadelphia, PA 19150
1619 Elaine Street, Philadelphia, PA, 19150
$359,900
For Sale
$359,900
Turn-key duplex, renovated in 2022, ideal for investors or owner-occupants.
Property Size1,440 SF
Price / SF$249.93
Days on Market62
Property Features for 1619 Elaine Street
General Information
- Standard status
- Active
- Size
- 1,440 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1950
Listing Agency
EXP Realty, LLC
(484) 574-0855
Listed by
Irene Hunter · License #RS363688
(484) 574-0855
Source
Compass
Added: May 18 Checked: Jul 17 at 4:35 am
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This turn-key duplex presents an opportunity for investors and owner-occupants seeking immediate income potential. The property was fully renovated in 2022 and is well-maintained. Modern kitchens feature granite countertops and stainless steel appliances. The units have vinyl plank flooring and tile bathrooms. Fresh interior paint is underway. A roof replacement was completed in 2023 and includes transferable warranty coverage. Unit 1 is a tenant-occupied 1-bedroom, 1-bath apartment currently rented for $1,200/month with a lease in place. Unit 2 is an owner-occupied 2-bedroom, 1-bath unit. Separate electric meters, basement storage, a shared laundry area, fenced outdoor space, a 2-car garage, and additional driveway parking are included. The property is located within walking distance to public transportation, shopping, and dining, with quick access to Montgomery County and Arcadia University. The property is located in Philadelphia, MLS Area 19150. The property size is 1440 square feet. The school district is Philadelphia City.
Key Highlights
- Turn‑key duplex, fully renovated in 2022, offering immediate income potential and low‑maintenance living.
- New roof installed in 2023 with transferable warranty.
- Unit 1 is tenant‑occupied, generating $1,200/month in rental income.
Local 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 | $37.2k | $25.80 |
| − Vacancy | −$2.0k | −$1.42 |
| EGI | $35.1k | $24.38 |
| − OpEx | −$10.5k | −$7.31 |
| NOI | $24.6k | $17.06 |
1,440 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$351.0K
$307.2K – $409.6K
NOI $24,573 @ 7.0% cap · market cap 6.83%
Second Best
Apartment 5plus
$323.6K
$283.1K – $377.5K
NOI $22,651 @ 7.0% cap · market cap 6.29%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Turn-key duplex, renovated in 2022, ideal for investors or owner-occupants.
Where is this duplex located?
The property is located at 1619 Elaine Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: Turn‑key duplex, fully renovated in 2022, offering immediate income potential and low‑maintenance living.; New roof installed in 2023 with transferable warranty.; Unit 1 is tenant‑occupied, generating $1,200/month in rental income.
