Residential Income Property with City
For Sale
$239,900
1637 POPLAR STREET Unit 6F, Philadelphia, PA 19130
Top-floor urban residence with an open layout, updated finishes, and access to a shared rooftop deck.
Property Size722 SF
Days on Market83
Property Features for 1637 POPLAR STREET Unit 6F
General Information
Standard status
Active
Size
722 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,124
Amenities
roof deck
Building Details
Building Size
722 SF
Year Built
2015
Listing Agency:
Keller Williams Real Estate
Listed By:
Brittany Nettles · License #RS337439
(215) 778-8444
Source:
Patmckennarealtors
Added: Jul 1
Changed: Sep 18
Last Checked: Sep 20 at 9:41AM
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 Keller Williams Real Estate
Investment Insights
Based on property information with market context.
This residential income property is a top-floor condominium identified as Unit 6F at 1637 Poplar Street in Philadelphia. Built in 2015, the home features an open living and dining arrangement, hardwood flooring, high ceilings, and large windows oriented toward city views. A custom wall incorporates exposed brick detailing. The kitchen includes stainless steel appliances, a gas range, dishwasher, wood cabinetry, granite counters, and geometric tilework.
The bedroom offers natural light, a ceiling fan, and generous closet storage. The bathroom includes a tub, dark-format tile, and a wood vanity with additional storage. Residents have access to a shared roof deck. The property is near Vineyards Cafe, Cambridge Street Coffee, Bar Hygge, Warehouse Cafe, Aldi, Fairmount Avenue, and public transit, including a five-minute walk to the Broad Street Line. I-76, I-95, and Philadelphia International Airport are also accessible.
The bedroom offers natural light, a ceiling fan, and generous closet storage. The bathroom includes a tub, dark-format tile, and a wood vanity with additional storage. Residents have access to a shared roof deck. The property is near Vineyards Cafe, Cambridge Street Coffee, Bar Hygge, Warehouse Cafe, Aldi, Fairmount Avenue, and public transit, including a five-minute walk to the Broad Street Line. I-76, I-95, and Philadelphia International Airport are also accessible.
Key Highlights
- Top‑floor Unit 6F condominium at 1637 Poplar Street
- Built in 2015 with hardwood floors and high ceilings
- Open living and dining area with large city‑view windows
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
$11,357
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
4.73%
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%
$227,140
$227.1K
Cap Rate 7%
$162,243
$162.2K
Cap Rate 9%
$126,189
$126.2K
Market Conditions
NOI Build-Up for 722 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
$21.9K $30.36/SF
− Vacancy
−$1.3K −$1.76/SF
EGI
$20.6K $28.60/SF
− OpEx
−$9.3K −$12.87/SF
NOI
$11.4K $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%
$227,140
Cap Rate 7%
$162,243
Cap Rate 9%
$126,189
Alternative Uses
Best Use
Apartment 5plus
$162.2K
$142.0K – $189.3K
NOI $11,357 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$176.0K
$154.0K – $205.4K
NOI $12,321 @ 7.0% cap · market cap 5.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,682
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Top-floor urban residence with an open layout, updated finishes, and access to a shared rooftop deck.
Where is this residential income property located?
The property is located at 1637 POPLAR STREET Unit 6F Philadelphia, PA.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Top‑floor Unit 6F condominium at 1637 Poplar Street; Built in 2015 with hardwood floors and high ceilings; Open living and dining area with large city‑view windows
