Updated Residential Income Property with Rooftop
For Sale
$315,000
1822 FEDERAL STREET Unit 3, Philadelphia, PA 19146
Renovated urban condo offers hardwood flooring, newer appliances, and private outdoor space.
Property Size768 SF
Days on Market27
Property Features for 1822 FEDERAL STREET Unit 3
General Information
Standard status
Active
Size
768 SF
Property subtype
Penthouse Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/1.5BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$650
Amenities
private rooftop deck
Building Details
Building Size
768 SF
Year Built
2016
Listing Agency:
Compass Pennsylvania, LLC
(484) 326-4516
Listed By:
Andrew C. McClatchy
(484) 326-4516
Source:
Patmckennarealtors
Added: Jul 9
Changed: Aug 4
Last Checked: Aug 4 at 6:21AM
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 Compass Pennsylvania, LLC
Investment Insights
Based on property information with market context.
This updated residential income property is a two-bedroom, 1.5-bath condo with a practical interior layout and contemporary finishes. Renovations include rich hardwood floors and a refreshed kitchen equipped with newer appliances. The residence was built in 2016 and includes a private rooftop deck that expands the available living and entertaining space.
Set on Federal Street in Philadelphia’s Point Breeze neighborhood, the property is near restaurants, cafes, craft breweries, street art, and green spaces. The rooftop provides views of the Philadelphia skyline, while the surrounding neighborhood offers convenient access to a range of urban amenities. The combination of updated interiors, private outdoor space, and a central Philadelphia setting supports both residential use and investor ownership.
Set on Federal Street in Philadelphia’s Point Breeze neighborhood, the property is near restaurants, cafes, craft breweries, street art, and green spaces. The rooftop provides views of the Philadelphia skyline, while the surrounding neighborhood offers convenient access to a range of urban amenities. The combination of updated interiors, private outdoor space, and a central Philadelphia setting supports both residential use and investor ownership.
Key Highlights
- Two‑bedroom, 1.5‑bath condo
- Private rooftop deck with Philadelphia skyline views
- Updated kitchen with newer appliances
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $23.3k | $30.36 |
| − Vacancy | −$1.4k | −$1.76 |
| EGI | $22.0k | $28.60 |
| − OpEx | −$9.9k | −$12.87 |
| NOI | $12.1k | $15.73 |
768 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$172.6K
$151.0K – $201.3K
NOI $12,080 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$187.2K
$163.8K – $218.4K
NOI $13,106 @ 7.0% cap · market cap 4.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,200
Businesses Nearby
Explore this area
Business Placement
Demographics for 19146, PA
41,920
Population
22,182
Households
1.9
Avg Household Size
34
Median Age
65%
College-Educated
94%
High-School Grad
1.7 sq mi
ZIP Area
24,659
Density / Sq Mi
$99,702
Median Household Income
$68,849
Median Earnings
$1,708
Median Rent
$452,200
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in Philadelphia, PA
Properties on Market for Residential income properties in Philadelphia
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Renovated urban condo offers hardwood flooring, newer appliances, and private outdoor space.
Where is this residential income property located?
The property is located at 1822 FEDERAL STREET Unit 3 Philadelphia, PA.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Two‑bedroom, 1.5‑bath condo; Private rooftop deck with Philadelphia skyline views; Updated kitchen with newer appliances
