Turn-Key Duplex Near Temple
1724 W NORRIS Street, Philadelphia, PA 19121
New
MULTI_FAMILY - PHILADELPHIA, PA
Property size:
2,178 SFLot size:
0.03 AcresPrice / SF:
$206/SF- Added:
- May 21, 2026
- Days on Market:
- 3
- Last Refresh:
- May 23 at 3:06 pm
Property Features for 1724 W NORRIS Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Rooms
- Basement
- Standard status
- Active
- Size
- 2,178 SF
- Lot size
- 0.03 Acres
Taxes and HOA fees
- Tax Annual Amount
- 7291
Utilities
- Heating system
- Hot Water(Heating)
- Cooling system
- Central Air
Building Details
- Year built
- 2011
- Number of units
- 2
- Building materials
- Masonry
Listing agent Philip Varghese License #RS329021 (610) 573-9175
Listing office Equity Pennsylvania Real Estate 3139 Hulmeville Rd, PA (267) 522-8112
Listing date May 21, 2026
MLS# PAPH2624106
Listing URL
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Turn‑key 8‑bedroom duplex generating $60,000+ per year in rental income.
- Prime location in the heart of Temple University's Off‑Campus Housing, a straight line walk to campus and 3 blocks from Broad St.
- Two bi‑level 4‑bedroom units, each with central air and private laundry.
- Well‑equipped kitchens with granite countertops, stainless steel appliances and cherry cabinets.
- Recent upgrades including new waterproof flooring in the 2nd unit bedrooms and a new water heater.
- Central AC in both units.
Overview
This is an 8-bedroom duplex located in Philadelphia, PA, near Temple University. The property contains two bi-level 4-bedroom units. Each unit includes central air conditioning, private laundry facilities, and a kitchen. Kitchens are equipped with granite countertops, stainless steel appliances including a dishwasher, microwave, refrigerator, and garbage disposal, as well as cherry cabinets. The main living areas feature hardwood flooring and recessed lighting. One unit has waterproof flooring in the bedrooms. A concrete patio is included. A new water heater has been installed. The lower unit's AC was installed in 2019, and the upper unit's AC was installed in 2020. The property is located three blocks from Broad Street and is a short walk to the center of the Temple University campus. The property size is 2178 square feet and the lot size is 0.0251 acres. The property is intended for use as a residential income property.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$413.0K
NOI $37,167 @ 9.00% cap · cautious / downside scenario
Moderate
$531.0K
NOI $37,167 @ 7.00% cap · market / base-case scenario
Aggressive
$743.3K
NOI $37,167 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $56.2k | $25.80 |
| − Vacancy | −$3.1k | −$1.42 |
| EGI | $53.1k | $24.38 |
| − OpEx | −$15.9k | −$7.31 |
| NOI | $37.2k | $17.06 |
2,178 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$531.0K
$464.6K – $619.5K
NOI $37,167 @ 7.0% cap · market cap 8.26%
Second Best
Apartment 5plus
$489.4K
$428.2K – $571.0K
NOI $34,259 @ 7.0% cap · market cap 7.61%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Philadelphia
- County
- Delaware
- State
- Pennsylvania
- Longitude
- -75.16294
- Latitude
- 39.98381
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Rented 8-bedroom duplex near Temple University with income potential.
Where is this duplex located?
The property is located at 1724 W NORRIS Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Turn‑key 8‑bedroom duplex generating $60,000+ per year in rental income.; Prime location in the heart of Temple University's Off‑Campus Housing, a straight line walk to campus and 3 blocks from Broad St.; Two bi‑level 4‑bedroom units, each with central air and private laundry.
