Vacant
For Sale
$600,000
1842 N 17TH STREET, Philadelphia, PA 19121
All three residences are unoccupied, providing control of the complete building from the outset.
Property Size3,393 SF
Days on Market14
Property Features for 1842 N 17TH STREET
General Information
Standard status
Active
Size
3,393 SF
Property subtype
Triplex
Units
Unit Mix
1 x 5BR/2BA, 1 x 4BR/3BA, 1 x 3BR/2BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$10,309
Building Details
Building Size
3,393 SF
Year Built
2014
Buildings
1
Listing Agency:
KW Empower
(267) 388-1114
Listed By:
Asa Kurland · License #RS349157
(267) 388-1114
Source:
Patmckennarealtors
Added: Aug 18
Changed: Aug 28
Last Checked: Aug 30 at 9:30PM
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 KW Empower
Investment Insights
Based on property information with market context.
Built in 2014, this three-unit residential property is currently vacant and offers a defined mix of layouts. Unit 1 contains 5 bedrooms and 2 baths, Unit 2 includes 4 bedrooms and 3 baths, and Unit 3 provides 3 bedrooms and 2 baths. The configuration gives the next owner control of all residences without existing occupants in place.
The property is near Temple University and has access to public transportation, major roadways, and neighborhood amenities. Its location in Philadelphia and three distinct unit layouts provide a straightforward multifamily format for an owner evaluating residential rental or occupancy plans.
The property is near Temple University and has access to public transportation, major roadways, and neighborhood amenities. Its location in Philadelphia and three distinct unit layouts provide a straightforward multifamily format for an owner evaluating residential rental or occupancy plans.
Key Highlights
- Three‑unit property, built in 2014, with all residences currently vacant
- Unit 1 includes 5 bedrooms and 2 baths
- Unit 2 includes 4 bedrooms and 3 baths
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
$53,370
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
8.90%
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%
$1,067,400
$1.1M
Cap Rate 7%
$762,429
$762.4K
Cap Rate 9%
$593,000
$593.0K
Market Conditions
NOI Build-Up for 3,393 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
$103.0K $30.36/SF
− Vacancy
−$6.0K −$1.76/SF
EGI
$97.0K $28.60/SF
− OpEx
−$43.7K −$12.87/SF
NOI
$53.4K $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%
$1,067,400
Cap Rate 7%
$762,429
Cap Rate 9%
$593,000
Alternative Uses
Best Use
Multifamily LT 5
$827.2K
$723.8K – $965.0K
NOI $57,901 @ 7.0% cap · market cap 9.65%
Second Best
Apartment 5plus
$762.4K
$667.1K – $889.5K
NOI $53,370 @ 7.0% cap · market cap 8.90%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - All three residences are unoccupied, providing control of the complete building from the outset.
Where is this triplex located?
The property is located at 1842 N 17TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Three‑unit property, built in 2014, with all residences currently vacant; Unit 1 includes 5 bedrooms and 2 baths; Unit 2 includes 4 bedrooms and 3 baths
