Residential Income Property with Roof
New
For Sale
$419,500
1629 FAIRMOUNT AVENUE Unit 3, Philadelphia, PA 19130
The two-story residence has two bedrooms, 1.5 baths, and private outdoor areas on both levels.
Property Size1,100 SF
Days on Market3
Property Features for 1629 FAIRMOUNT AVENUE Unit 3
General Information
Standard status
Active
Size
1,100 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Francisville
Units
Unit Mix
1 x 2BR/1.5BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,106
Amenities
private main level deck
roof deck
laundry room
Building Details
Building Size
1,100 SF
Year Built
2009
Listing Agency:
Compass Pennsylvania, LLC
Listed By:
Juliet C. Welker · License #AB068993
(215) 880-2129
Source:
Patmckennarealtors
Added: Nov 3
Changed: Nov 5
Last Checked: Nov 4 at 2:57PM
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
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Investment Insights
Based on property information with market context.
Built in 2009, this two-story residence offers two bedrooms and 1.5 baths. The main level connects the kitchen and living area and also includes a powder room and separate laundry room. The kitchen has granite counters, a breakfast bar, stainless steel appliances, and cabinet storage. Hardwood floors and high ceilings add detail to the interior. A private deck extends from the main level, with a separate roof deck above; both outdoor spaces have been redone and carry an active warranty.
The property is in Philadelphia’s Fairmount/Spring Garden neighborhood, near the Art Museum and River Trail. Fairmount Avenue restaurants, the Barnes Foundation, the Rodin Museum, Calder Gardens, the Art Museum, and South Jazz Kitchen are among the named nearby destinations. The listing also notes access to Center City offices, health centers, and research universities.
The property is in Philadelphia’s Fairmount/Spring Garden neighborhood, near the Art Museum and River Trail. Fairmount Avenue restaurants, the Barnes Foundation, the Rodin Museum, Calder Gardens, the Art Museum, and South Jazz Kitchen are among the named nearby destinations. The listing also notes access to Center City offices, health centers, and research universities.
Key Highlights
- Two‑story residence built in 2009
- Two bedrooms and 1.5 baths
- Private main‑level deck and separate roof deck
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,302
Cap Rate
4.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$346,040
$346.0K
Cap Rate 7%
$247,171
$247.2K
Cap Rate 9%
$192,244
$192.2K
Market Conditions
NOI Build-Up for 1,100 SF
Gross rent
$33.4K $30.36/SF
− Vacancy
−$1.9K −$1.76/SF
EGI
$31.5K $28.60/SF
− OpEx
−$14.2K −$12.87/SF
NOI
$17.3K $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 Rate 5%
$346,040
Cap Rate 7%
$247,171
Cap Rate 9%
$192,244
Alternative Uses
Best Use
Apartment 5plus
$247.2K
$216.3K – $288.4K
NOI $17,302 @ 7.0% cap · market cap 4.12%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$268.2K
$234.6K – $312.9K
NOI $18,771 @ 7.0% cap · market cap 4.47%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,093
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - The two-story residence has two bedrooms, 1.5 baths, and private outdoor areas on both levels.
Where is this residential income property located?
The property is located at 1629 FAIRMOUNT AVENUE Unit 3 Philadelphia, PA.
What is the asking price?
The asking price for this property is $419,500.
What are key features of this property?
This property features: Two‑story residence built in 2009; Two bedrooms and 1.5 baths; Private main‑level deck and separate roof deck
