Three-Level Residential Income
For Sale
$1,050,000
1800 PINE STREET Unit 101, Philadelphia, PA 19103
Private-entry residence with designer finishes, flexible lower-level space, and original architectural details.
Property Size2,400 SF
Days on Market27
Property Features for 1800 PINE STREET Unit 101
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$13,480
Building Details
Building Size
2,400 SF
Year Built
1858
Listing Agency:
BHHS Fox & Roach The Harper at Rittenhouse Square
Listed By:
Laurie Sherman · License #RS344127
(215) 429-4302
Source:
Patmckennarealtors
Added: Aug 14
Changed: Aug 31
Last Checked: Sep 8 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 BHHS Fox & Roach The Harper at Rittenhouse Square
Investment Insights
Based on property information with market context.
Unit 101 is a two-bedroom residential income property arranged across three levels with its own entrance in a boutique building. The main floor combines living and dining areas with 12-foot ceilings, hand-scraped oak flooring, oversized windows, a chef’s kitchen with granite countertops and Viking appliances, and a powder room. The upper level contains a primary suite with a decorative fireplace and marble bath, a second bedroom, and a guest bath with a glass-enclosed soaking tub and shower.
The lower level adds a mahogany bar, custom penny tile flooring, built-in storage, a powder room, and laundry room. Its flexible layout accommodates media, office, gym, or entertainment use. Original window moldings, pocket shutters, Roman shades, and a townhouse mirror complement the updated finishes. Built in 1858, the property is located at 1800 Pine Street near Rittenhouse Square, restaurants, shopping, entertainment, and major transportation.
The lower level adds a mahogany bar, custom penny tile flooring, built-in storage, a powder room, and laundry room. Its flexible layout accommodates media, office, gym, or entertainment use. Original window moldings, pocket shutters, Roman shades, and a townhouse mirror complement the updated finishes. Built in 1858, the property is located at 1800 Pine Street near Rittenhouse Square, restaurants, shopping, entertainment, and major transportation.
Key Highlights
- Two‑bedroom residence spanning three floors with a private entrance
- Boutique building with only three units
- Main level features 12‑foot ceilings, oak flooring, oversized windows, and Viking appliances
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
$37,751
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
3.60%
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%
$755,020
$755.0K
Cap Rate 7%
$539,300
$539.3K
Cap Rate 9%
$419,456
$419.5K
Market Conditions
NOI Build-Up for 2,400 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
$72.9K $30.36/SF
− Vacancy
−$4.2K −$1.76/SF
EGI
$68.6K $28.60/SF
− OpEx
−$30.9K −$12.87/SF
NOI
$37.8K $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%
$755,020
Cap Rate 7%
$539,300
Cap Rate 9%
$419,456
Alternative Uses
Best Use
Apartment 5plus
$539.3K
$471.9K – $629.2K
NOI $37,751 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$585.1K
$512.0K – $682.6K
NOI $40,956 @ 7.0% cap · market cap 3.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
17,215
Businesses Nearby
Explore this area
Business Placement
Demographics for 19103, PA
28,717
Population
20,064
Households
1.4
Avg Household Size
36
Median Age
81%
College-Educated
98%
High-School Grad
0.6 sq mi
ZIP Area
47,862
Density / Sq Mi
$97,940
Median Household Income
$76,680
Median Earnings
$1,955
Median Rent
$551,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Private-entry residence with designer finishes, flexible lower-level space, and original architectural details.
Where is this residential income property located?
The property is located at 1800 PINE STREET Unit 101 Philadelphia, PA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Two‑bedroom residence spanning three floors with a private entrance; Boutique building with only three units; Main level features 12‑foot ceilings, oak flooring, oversized windows, and Viking appliances
