Top-Floor
For Sale
$310,000
1638 N 2ND STREET Unit 3, Philadelphia, PA 19122
The two-bedroom layout includes private bathrooms for both bedrooms, plus a separate powder room.
Property Size1,000 SF
Days on Market39
Property Features for 1638 N 2ND STREET Unit 3
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
Pennsport
Public Transit
Yes
Units
Unit Mix
1 x 2BR/2.5BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$444
Building Details
Building Size
1,000 SF
Year Built
2018
Listing Agency:
Elfant Wissahickon Realtors
Listed By:
Kate McCann · License #RS348958
(908) 451-0235
Source:
Patmckennarealtors
Added: Sep 24
Changed: Oct 31
Last Checked: Oct 30 at 10:13PM
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 Elfant Wissahickon Realtors
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This top-floor condominium is in a three-unit building constructed in 2018. Its two-level plan includes two bedrooms, each with an ensuite bathroom, and a half bath off the hallway. The main floor combines living space with a kitchen featuring stainless steel appliances and bar seating. A landing between the bedrooms provides additional flexible space, and a laundry and mechanical closet is also included. The front bedroom has two double closets; the rear bedroom has one double closet.
Nearby destinations include Rival Bros, Suraya, and Char. Hancock Park, with a playground and seasonal public pool, is two blocks away. American Street is around the corner, and the Berks El stop is a few minutes’ walk from the property. The tax abatement has three years remaining.
Nearby destinations include Rival Bros, Suraya, and Char. Hancock Park, with a playground and seasonal public pool, is two blocks away. American Street is around the corner, and the Berks El stop is a few minutes’ walk from the property. The tax abatement has three years remaining.
Key Highlights
- Top‑floor condominium in a three‑unit building
- Two bedrooms, each with an ensuite bathroom, plus a half bath
- Two‑level layout with kitchen, living area, landing, and laundry and mechanical closet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,730
Cap Rate
5.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$314,600
$314.6K
Cap Rate 7%
$224,714
$224.7K
Cap Rate 9%
$174,778
$174.8K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$30.4K $30.36/SF
− Vacancy
−$1.8K −$1.76/SF
EGI
$28.6K $28.60/SF
− OpEx
−$12.9K −$12.87/SF
NOI
$15.7K $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%
$314,600
Cap Rate 7%
$224,714
Cap Rate 9%
$174,778
Alternative Uses
Best Use
Apartment 5plus
$224.7K
$196.6K – $262.2K
NOI $15,730 @ 7.0% cap · market cap 5.07%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$243.8K
$213.3K – $284.4K
NOI $17,065 @ 7.0% cap · market cap 5.50%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,146
Businesses Nearby
Explore this area
Business Placement
Demographics for 19122, PA
26,668
Population
10,139
Households
2.6
Avg Household Size
28
Median Age
42%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
20,514
Density / Sq Mi
$57,785
Median Household Income
$31,871
Median Earnings
$1,294
Median Rent
$341,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Frequently Asked Questions
What type of property is this?
Residential income property - The two-bedroom layout includes private bathrooms for both bedrooms, plus a separate powder room.
Where is this residential income property located?
The property is located at 1638 N 2ND STREET Unit 3 Philadelphia, PA.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Top‑floor condominium in a three‑unit building; Two bedrooms, each with an ensuite bathroom, plus a half bath; Two‑level layout with kitchen, living area, landing, and laundry and mechanical closet
