Two-Unit Brick
For Sale
$390,000
1735 MCKEAN Street, Philadelphia, PA 19145
MULTI_FAMILY - Other - PHILADELPHIA, PA
Property Size1,468 SF
Lot Size0.02 Acres
Price / SF$265.67
Days on Market151
Property Features for 1735 MCKEAN Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
On Street
Interior features
Kitchen - Eat-In
Subdivision
NEWBOLD
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Standard status
Active
Size
1,468 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
1376
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1927
Number of units
2
Building materials
Brick
Architectural style
Other
Listing Agency:
Central Realty Group LLC
(215) 516-6038
Listed By:
Dat Hong · License #RS292173
(267) 312-5052
Added: Mar 16
Changed: Aug 5
Last Checked: Aug 13 at 1:06AM
MLS# PAPH2592788
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.
Investment Insights
Based on property information with market context.
This 1,468-square-foot brick duplex contains two residential units, each configured with two bedrooms and one bathroom. Both units include an eat-in kitchen and living area, while the first-floor residence also provides access to the full basement and rear yard. Separate HVAC units serve the residences, with gas cooking and heating. Central heating and central air are provided.
Built in 1927, the property occupies 0.022 acres and includes on-street parking. The building is located on McKean Street in Philadelphia's Newbold area, with Center City, shopping areas, bars, and cafes identified as nearby destinations.
Built in 1927, the property occupies 0.022 acres and includes on-street parking. The building is located on McKean Street in Philadelphia's Newbold area, with Center City, shopping areas, bars, and cafes identified as nearby destinations.
Key Highlights
- Two‑unit duplex with 1,468 SF of building area
- 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
6.42%
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 6.42%
Second Best
Apartment 5plus
$329.9K
$288.6K – $384.9K
NOI $23,091 @ 7.0% cap · market cap 5.92%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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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 Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,468 SF of building area; Each unit includes 2 bedrooms and 1 bathroom; First‑floor unit has full basement and rear‑yard access
