Two-Unit Duplex With Basement
For Sale
$380,000
1735 McKean St, Philadelphia, PA 19145
Each residence offers two bedrooms, one bathroom, and an eat-in kitchen and living area.
Property Size1,468 SF
Price / SF$258.86
Days on Market47
Property Features for 1735 McKean St
General Information
Standard status
Active
Size
1,468 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1927
Listing Agency:
Central Realty Group LLC
Listed By:
Dat Hong · License #RS292173
(215) 516-6038
Source:
Upgradebymichaud
Added: Aug 3
Changed: Sep 11
Last Checked: Sep 18 at 11:35AM
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 Central Realty Group LLC
Investment Insights
Based on property information with market context.
Built in 1927, this legally zoned duplex contains two residential units, each arranged with two bedrooms, one bathroom, and a combined eat-in kitchen and living area. The first-floor residence includes use of the full basement and rear yard, adding functional space beyond the main living areas. Separate HVAC systems serve the units, with gas cooking and heating in place.
The property is located on McKean Street in Philadelphia’s Newbold neighborhood, with access to Center City, shopping areas, bars, and cafes. Its two-unit layout supports an owner-occupied arrangement with a second residence available for rent, or continued use as a two-unit residential property.
The property is located on McKean Street in Philadelphia’s Newbold neighborhood, with access to Center City, shopping areas, bars, and cafes. Its two-unit layout supports an owner-occupied arrangement with a second residence available for rent, or continued use as a two-unit residential property.
Key Highlights
- Two‑unit duplex in Philadelphia’s Newbold neighborhood
- Each unit includes 2 bedrooms and 1 bathroom
- First‑floor unit has full basement and rear yard access
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
$25,051
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
6.59%
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%
$501,020
$501.0K
Cap Rate 7%
$357,871
$357.9K
Cap Rate 9%
$278,344
$278.3K
Market Conditions
NOI Build-Up for 1,468 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
$37.9K $25.80/SF
− Vacancy
−$2.1K −$1.42/SF
EGI
$35.8K $24.38/SF
− OpEx
−$10.7K −$7.31/SF
NOI
$25.1K $17.06/SF
Area
Philadelphia, PA
Vacancy
5.51%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
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%
$501,020
Cap Rate 7%
$357,871
Cap Rate 9%
$278,344
Alternative Uses
Best Use
Multifamily LT 5
$357.9K
$313.1K – $417.5K
NOI $25,051 @ 7.0% cap · market cap 6.59%
Second Best
Apartment 5plus
$329.9K
$288.6K – $384.9K
NOI $23,091 @ 7.0% cap · market cap 6.08%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,568
Businesses Nearby
Explore this area
Business Placement
Demographics for 19145, PA
47,079
Population
21,295
Households
2.2
Avg Household Size
38
Median Age
36%
College-Educated
89%
High-School Grad
4.8 sq mi
ZIP Area
9,808
Density / Sq Mi
$70,374
Median Household Income
$45,940
Median Earnings
$1,343
Median Rent
$290,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers two bedrooms, one bathroom, and an eat-in kitchen and living area.
Where is this duplex located?
The property is located at 1735 McKean St Philadelphia, PA.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Two‑unit duplex in Philadelphia’s Newbold neighborhood; Each unit includes 2 bedrooms and 1 bathroom; First‑floor unit has full basement and rear yard access
