Three-Level Residential Income
For Sale
$575,000
1803 WYLIE STREET Unit 1, Philadelphia, PA 19130
Contemporary condo-style residence with high-end finishes, flexible lower-level rooms, and a private fenced patio.
Property Size1,458 SF
Days on Market87
Property Features for 1803 WYLIE STREET Unit 1
General Information
Standard status
Active
Size
1,458 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,098
Building Details
Building Size
1,458 SF
Year Built
2022
Listing Agency:
RE/MAX Ready
Listed By:
Ben Finelli · License #RS334157
(267) 853-8823
Source:
Patmckennarealtors
Added: Jun 10
Changed: Aug 30
Last Checked: Sep 1 at 11:36PM
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 RE/MAX Ready
Investment Insights
Based on property information with market context.
Completed in 2022, this residential income property is arranged across three finished levels with three bedrooms and three-and-a-half bathrooms. The main floor combines white oak herringbone flooring, a custom media wall, built-in shelving, and a detailed kitchen with quartz waterfall counters, two-tone cabinetry, brushed-gold hardware, a Carrara marble backsplash, farmhouse sink, Samsung appliances, and seating for four at the island.
The primary suite includes a shiplap ceiling, substantial storage, and an ensuite bath with porcelain herringbone tile and an oversized walk-in shower. Two lower-level bedrooms feature 10-foot ceilings and private bathrooms, creating adaptable space for guests, an office, or additional living areas. A tiled rear patio enclosed by a privacy fence extends the home outdoors.
The property is steps from Francisville Playground and Eastern State Penitentiary, with Fairmount Avenue boutiques and restaurants nearby. Whole Foods, the Barnes Foundation, and the Philadelphia Museum of Art are also within easy reach, while Center City is described as a 15-minute walk away.
The primary suite includes a shiplap ceiling, substantial storage, and an ensuite bath with porcelain herringbone tile and an oversized walk-in shower. Two lower-level bedrooms feature 10-foot ceilings and private bathrooms, creating adaptable space for guests, an office, or additional living areas. A tiled rear patio enclosed by a privacy fence extends the home outdoors.
The property is steps from Francisville Playground and Eastern State Penitentiary, with Fairmount Avenue boutiques and restaurants nearby. Whole Foods, the Barnes Foundation, and the Philadelphia Museum of Art are also within easy reach, while Center City is described as a 15-minute walk away.
Key Highlights
- Built in 2022 with three finished levels
- Three bedrooms and three‑and‑a‑half bathrooms
- Two lower‑level bedrooms with 10‑foot ceilings and private baths
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
$22,934
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
3.99%
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%
$458,680
$458.7K
Cap Rate 7%
$327,629
$327.6K
Cap Rate 9%
$254,822
$254.8K
Market Conditions
NOI Build-Up for 1,458 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
$44.3K $30.36/SF
− Vacancy
−$2.6K −$1.76/SF
EGI
$41.7K $28.60/SF
− OpEx
−$18.8K −$12.87/SF
NOI
$22.9K $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%
$458,680
Cap Rate 7%
$327,629
Cap Rate 9%
$254,822
Alternative Uses
Best Use
Apartment 5plus
$327.6K
$286.7K – $382.2K
NOI $22,934 @ 7.0% cap · market cap 3.99%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$355.4K
$311.0K – $414.7K
NOI $24,881 @ 7.0% cap · market cap 4.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,748
Businesses Nearby
Explore this area
Business Placement
Demographics for 19130, PA
31,477
Population
18,178
Households
1.7
Avg Household Size
34
Median Age
78%
College-Educated
98%
High-School Grad
1.2 sq mi
ZIP Area
26,231
Density / Sq Mi
$110,436
Median Household Income
$76,051
Median Earnings
$1,836
Median Rent
$483,500
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Contemporary condo-style residence with high-end finishes, flexible lower-level rooms, and a private fenced patio.
Where is this residential income property located?
The property is located at 1803 WYLIE STREET Unit 1 Philadelphia, PA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Built in 2022 with three finished levels; Three bedrooms and three‑and‑a‑half bathrooms; Two lower‑level bedrooms with 10‑foot ceilings and private baths
