Bi-Level Duplex with Private
For Sale
$400,000
1821 N BOUVIER STREET, Philadelphia, PA 19121
Fully leased two-unit property with four-bedroom layouts, private laundry, and access to Temple University and public transportation.
Property Size2,166 SF
Price / SF$184.67
Days on Market12
Property Features for 1821 N BOUVIER STREET
General Information
Standard status
Active
Size
2,166 SF
Property subtype
Duplex
Occupancy
100%
Financials
Gross Income
$41,400
Average Monthly Rent
$1,725
Units
Unit Mix
2 x 4BR/2BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,007
Amenities
in-unit laundry
Building Details
Building Size
2,166 SF
Year Built
1915
Buildings
1
Tenancy
Multi
Listing Agency:
RE/MAX Select Group
Listed By:
Yakenya Moise
(609) 436-0305
Source:
Lizclarkrealestate
Added: Sep 3
Changed: Sep 8
Last Checked: Sep 14 at 9:55AM
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 Select Group
Investment Insights
Based on property information with market context.
This 1915 duplex contains approximately 2,166 square feet of finished living space across two bi-level residences. Each unit offers four bedrooms, two full bathrooms, and private in-unit laundry, providing a consistent configuration across both apartments. The property is fully leased, with current lease terms extending through June 30, 2027, for one unit and July 30, 2027, for the other.
Located near Temple University, the property also offers access to public transportation and neighborhood amenities. The current operating profile supports a projected cap rate of nearly 8%, based on estimated expenses and the current list price. Income, expenses, square footage, and cap rate require independent buyer verification.
Located near Temple University, the property also offers access to public transportation and neighborhood amenities. The current operating profile supports a projected cap rate of nearly 8%, based on estimated expenses and the current list price. Income, expenses, square footage, and cap rate require independent buyer verification.
Key Highlights
- Two bi‑level units, each with 4 bedrooms and 2 full bathrooms
- Approximately 2,166 square feet of finished living space
- Private in‑unit laundry in both residences
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
$34,070
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
8.52%
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%
$681,400
$681.4K
Cap Rate 7%
$486,714
$486.7K
Cap Rate 9%
$378,556
$378.6K
Market Conditions
NOI Build-Up for 2,166 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
$65.8K $30.36/SF
− Vacancy
−$3.8K −$1.76/SF
EGI
$61.9K $28.60/SF
− OpEx
−$27.9K −$12.87/SF
NOI
$34.1K $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%
$681,400
Cap Rate 7%
$486,714
Cap Rate 9%
$378,556
Alternative Uses
Best Use
Multifamily LT 5
$528.0K
$462.0K – $616.1K
NOI $36,963 @ 7.0% cap · market cap 9.24%
Second Best
Apartment 5plus
$486.7K
$425.9K – $567.8K
NOI $34,070 @ 7.0% cap · market cap 8.52%
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
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,065
Businesses Nearby
Explore this area
Business Placement
Demographics for 19121, PA
41,799
Population
19,673
Households
2.1
Avg Household Size
28
Median Age
25%
College-Educated
84%
High-School Grad
2.4 sq mi
ZIP Area
17,416
Density / Sq Mi
$36,208
Median Household Income
$29,915
Median Earnings
$1,082
Median Rent
$250,100
Median Home Value
Check the figures for this property
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 - Fully leased two-unit property with four-bedroom layouts, private laundry, and access to Temple University and public transportation.
Where is this duplex located?
The property is located at 1821 N BOUVIER STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Two bi‑level units, each with 4 bedrooms and 2 full bathrooms; Approximately 2,166 square feet of finished living space; Private in‑unit laundry in both residences
