Updated Porch-Front
New
For Sale
$550,000
188 GREEN LANE, Philadelphia, PA 19127
Occupied residential income property with refreshed kitchens, private decks, in-unit laundry, and convenient access to Main Street.
Property Size3,072 SF
Days on Market6
Property Features for 188 GREEN LANE
General Information
Standard status
Active
Size
3,072 SF
Property subtype
Triplex
Occupancy
100%
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,862
Amenities
in-unit washers and dryers
private decks
fenced yard
porch
basement
Building Details
Building Size
3,072 SF
Year Built
1900
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
BHHS Fox & Roach-Center City Walnut
Listed By:
Edward Anthony Pachell · License #RS350980
(215) 528-9713
Source:
Lizclarkrealestate
Added: Sep 11
Changed: Sep 13
Last Checked: Sep 15 at 10:10AM
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 porch-front triplex contains three occupied units with a practical mix of two-bedroom and one-bedroom layouts. Each unit includes an updated kitchen, private outdoor space, and an in-unit washer and dryer. Composite decking has been installed, all three water heaters were replaced in 2026, and the top-floor apartment includes a recently updated bathroom.
The property also offers a large unfinished basement with private side access through locking Bilco doors, along with a fenced rear yard. Three parking spaces are currently rented nearby, but they are not deeded to the property or included in the sale. Main Street is nearby, with regional rail access and I-76 access around the corner.
The property also offers a large unfinished basement with private side access through locking Bilco doors, along with a fenced rear yard. Three parking spaces are currently rented nearby, but they are not deeded to the property or included in the sale. Main Street is nearby, with regional rail access and I-76 access around the corner.
Key Highlights
- Three occupied units with a two‑bedroom, two‑bedroom, and one‑bedroom configuration
- Updated kitchens in all three units, plus a refreshed top‑floor bathroom
- Private decks with durable composite decking
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
$48,321
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
8.79%
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%
$966,420
$966.4K
Cap Rate 7%
$690,300
$690.3K
Cap Rate 9%
$536,900
$536.9K
Market Conditions
NOI Build-Up for 3,072 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
$93.3K $30.36/SF
− Vacancy
−$5.4K −$1.76/SF
EGI
$87.9K $28.60/SF
− OpEx
−$39.5K −$12.87/SF
NOI
$48.3K $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%
$966,420
Cap Rate 7%
$690,300
Cap Rate 9%
$536,900
Alternative Uses
Best Use
Multifamily LT 5
$748.9K
$655.3K – $873.7K
NOI $52,423 @ 7.0% cap · market cap 9.53%
Second Best
Apartment 5plus
$690.3K
$604.0K – $805.4K
NOI $48,321 @ 7.0% cap · market cap 8.79%
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
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,515
Businesses Nearby
Explore this area
Business Placement
Demographics for 19127, PA
6,929
Population
3,496
Households
2
Avg Household Size
29
Median Age
77%
College-Educated
98%
High-School Grad
0.6 sq mi
ZIP Area
11,548
Density / Sq Mi
$99,792
Median Household Income
$73,061
Median Earnings
$1,765
Median Rent
$298,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Occupied residential income property with refreshed kitchens, private decks, in-unit laundry, and convenient access to Main Street.
Where is this triplex located?
The property is located at 188 GREEN LANE Philadelphia, PA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Three occupied units with a two‑bedroom, two‑bedroom, and one‑bedroom configuration; Updated kitchens in all three units, plus a refreshed top‑floor bathroom; Private decks with durable composite decking
