Two-Unit Duplex with Roof
New
For Sale
$659,900
1829 N WILLINGTON STREET, Philadelphia, PA 19121
2018-built duplex with central air, in-unit laundry, private outdoor spaces, and proximity to Temple University’s Main Campus.
Property Size2,482 SF
Price / SF$189.52
Days on Market7
Property Features for 1829 N WILLINGTON STREET
General Information
Standard status
Active
Size
2,482 SF
Class
Class A
Property subtype
Duplex
Units
Unit Mix
1 x 3 bed / 2 bath, 1 x 5 bed / 3 bath
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$1,506
Amenities
In-unit laundry
Central air
Building Details
Building Size
2,482 SF
Year Built
2018
Buildings
1
Listing Agency:
BHHS Fox & Roach-Center City Walnut
Listed By:
Danielle Redenbaugh · License #RS371661
(267) 614-3971
Source:
Lizclarkrealestate
Added: Sep 8
Changed: Sep 10
Last Checked: Sep 13 at 1:14PM
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-Center City Walnut
Investment Insights
Based on property information with market context.
This 2018-built duplex contains two residential units with a combined 8 bedrooms, 5 bathrooms, and 3,482 square feet. Both units include central air and in-unit laundry. The first residence offers three bedrooms and two bathrooms, along with a private patio. The second is a five-bedroom, three-bathroom bi-level arranged over three floors, with an internal staircase and a private roof deck; it measures approximately 1,700 square feet. The second unit is currently vacant. A real estate tax abatement is in place, and the property is offered separately or within a Temple University area package under single ownership.
Located at 1829 N Willington Street in Philadelphia, the property is adjacent to a police station and within walking distance of Temple University Main Campus and the Broad Street Line.
Located at 1829 N Willington Street in Philadelphia, the property is adjacent to a police station and within walking distance of Temple University Main Campus and the Broad Street Line.
Key Highlights
- Two‑unit duplex with 8 bedrooms and 5 bathrooms
- 3,482 sq ft building completed in 2018
- Unit 1 includes 3 bedrooms, 2 bathrooms, and a private patio
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
$59,420
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
9.00%
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%
$1,188,400
$1.2M
Cap Rate 7%
$848,857
$848.9K
Cap Rate 9%
$660,222
$660.2K
Market Conditions
NOI Build-Up for 3,482 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
$89.8K $25.80/SF
− Vacancy
−$4.9K −$1.42/SF
EGI
$84.9K $24.38/SF
− OpEx
−$25.5K −$7.31/SF
NOI
$59.4K $17.06/SF
Area
Philadelphia, PA
Vacancy
5.51%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,188,400
Cap Rate 7%
$848,857
Cap Rate 9%
$660,222
Alternative Uses
Best Use
Multifamily LT 5
$848.9K
$742.8K – $990.3K
NOI $59,420 @ 7.0% cap · market cap 9.00%
Second Best
Apartment 5plus
$782.4K
$684.6K – $912.8K
NOI $54,770 @ 7.0% cap · market cap 8.30%
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
Location Intelligence
Trade Area within ½ mile
2,008
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
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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 - 2018-built duplex with central air, in-unit laundry, private outdoor spaces, and proximity to Temple University’s Main Campus.
Where is this duplex located?
The property is located at 1829 N WILLINGTON STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $659,900.
What are key features of this property?
This property features: Two‑unit duplex with 8 bedrooms and 5 bathrooms; 3,482 sq ft building completed in 2018; Unit 1 includes 3 bedrooms, 2 bathrooms, and a private patio
