Updated Residential Income
For Sale
$205,000
1828 GREEN STREET Unit 2F, Philadelphia, PA 19130
One-bedroom condominium with renovated interiors, newer mechanical systems, and shared outdoor space.
Property Size547 SF
Price / SF$374.77
Days on Market58
Property Features for 1828 GREEN STREET Unit 2F
General Information
Standard status
Active
Size
547 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$1,200
Amenities
shared rear deck
Building Details
Building Size
547 SF
Year Built
2002
Construction
brownstone
Listing Agency:
Solo Real Estate, Inc.
Listed By:
Sean Francis Rapp · License #RS330868
(267) 237-8898
Source:
Patmckennarealtors
Added: Jul 24
Changed: Sep 17
Last Checked: Sep 18 at 11:45AM
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 Solo Real Estate, Inc.
Investment Insights
Based on property information with market context.
This one-bedroom, one-bath condominium provides 547 square feet of updated residential space. Interior improvements include new flooring, LED recessed lighting, ceiling fans, a refreshed kitchen, and a renovated bathroom with a tiled shower, new vanity, and new toilet. Newer heating and cooling units and a newer hot water heater add to the recent improvements. The residence also includes access to a shared rear deck.
The property is at 1828 Green Street, Unit 2F, in Philadelphia, Pennsylvania. SEPTA bus service is located at 19th and Green Streets, with the Broad Street Line and Suburban Station within walking distance. Whole Foods, GIANT, neighborhood restaurants, cafes, bars, parks, and museums are also identified in the surrounding area. The condo was built in 2002.
The property is at 1828 Green Street, Unit 2F, in Philadelphia, Pennsylvania. SEPTA bus service is located at 19th and Green Streets, with the Broad Street Line and Suburban Station within walking distance. Whole Foods, GIANT, neighborhood restaurants, cafes, bars, parks, and museums are also identified in the surrounding area. The condo was built in 2002.
Key Highlights
- 547 SF one‑bedroom, one‑bath condominium
- Updated kitchen and renovated bathroom with tiled shower
- New flooring, LED recessed lighting, and new ceiling fans
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
$8,604
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
4.20%
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%
$172,080
$172.1K
Cap Rate 7%
$122,914
$122.9K
Cap Rate 9%
$95,600
$95.6K
Market Conditions
NOI Build-Up for 547 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
$16.6K $30.36/SF
− Vacancy
−$963 −$1.76/SF
EGI
$15.6K $28.60/SF
− OpEx
−$7.0K −$12.87/SF
NOI
$8.6K $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%
$172,080
Cap Rate 7%
$122,914
Cap Rate 9%
$95,600
Alternative Uses
Best Use
Apartment 5plus
$122.9K
$107.6K – $143.4K
NOI $8,604 @ 7.0% cap · market cap 4.20%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$133.3K
$116.7K – $155.6K
NOI $9,334 @ 7.0% cap · market cap 4.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,334
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
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom condominium with renovated interiors, newer mechanical systems, and shared outdoor space.
Where is this residential income property located?
The property is located at 1828 GREEN STREET Unit 2F Philadelphia, PA.
What is the asking price?
The asking price for this property is $205,000.
What are key features of this property?
This property features: 547 SF one‑bedroom, one‑bath condominium; Updated kitchen and renovated bathroom with tiled shower; New flooring, LED recessed lighting, and new ceiling fans
