Leased Duplex Near Temple
For Sale
Under Contract
$559,900
1839 N 17TH Street, Philadelphia, PA 19121
Multi-Family, PHILADELPHIA, PA
Property Size2,721 SF
Lot Size0.04 Acres
Price / SF$205.77
Days on Market143
Property Features for 1839 N 17TH Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Subdivision
TEMPLE UNIVERSITY
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Standard status
Active Under Contract
Size
2,721 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
6203
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
basement
laundry
recreation area
storage
fenced rear yard
Building Details
Year built
2011
Number of units
2
Building materials
Masonry
Listing Agency:
EXP Realty, LLC
(888) 397-7352
Listed By:
Marcus Shellenberger · License #RS333936
(610) 505-1517
Added: Apr 30
Changed: Sep 4
Last Checked: Sep 18 at 11:06PM
MLS# PAPH2614160
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,721-square-foot masonry duplex, built in 2011, contains two separately configured residences with a combined 11 bedrooms. The six-bedroom unit spans three levels and includes two full bathrooms, two half bathrooms, a full-size basement, laundry and storage areas, recreational space, and a fenced rear yard. The second residence offers five bedrooms, two full bathrooms, one half bathroom, and an expansive living room across two levels.
The property sits two blocks from Temple University's Main Campus in Philadelphia's off-campus housing area. Both units are leased through July 2027. Central heating and central air serve the building, which occupies a 0.0418-acre lot. Current leases and additional financial information are available upon request.
The property sits two blocks from Temple University's Main Campus in Philadelphia's off-campus housing area. Both units are leased through July 2027. Central heating and central air serve the building, which occupies a 0.0418-acre lot. Current leases and additional financial information are available upon request.
Key Highlights
- Two‑unit duplex with 11 total bedrooms
- Both residences leased through July 2027
- Located two blocks from Temple University's Main Campus
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
$46,434
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
8.29%
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%
$928,680
$928.7K
Cap Rate 7%
$663,343
$663.3K
Cap Rate 9%
$515,933
$515.9K
Market Conditions
NOI Build-Up for 2,721 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
$70.2K $25.80/SF
− Vacancy
−$3.9K −$1.42/SF
EGI
$66.3K $24.38/SF
− OpEx
−$19.9K −$7.31/SF
NOI
$46.4K $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%
$928,680
Cap Rate 7%
$663,343
Cap Rate 9%
$515,933
Alternative Uses
Best Use
Multifamily LT 5
$663.3K
$580.4K – $773.9K
NOI $46,434 @ 7.0% cap · market cap 8.29%
Second Best
Apartment 5plus
$611.4K
$535.0K – $713.3K
NOI $42,800 @ 7.0% cap · market cap 7.64%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units deliver 11 bedrooms with leases in place through July 2027.
Where is this duplex located?
The property is located at 1839 N 17TH Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $559,900.
What are key features of this property?
This property features: Two‑unit duplex with 11 total bedrooms; Both residences leased through July 2027; Located two blocks from Temple University's Main Campus
