Renovated
For Sale
$545,000
1908 N 7TH Street, Philadelphia, PA 19122
Multi-Family, PHILADELPHIA, PA
Property Size2,503 SF
Lot Size0.03 Acres
Price / SF$217.74
Days on Market195
Property Features for 1908 N 7TH Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Subdivision
NORRIS SQUARE
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Special listing conditions
Short Sale
Standard status
Active
Size
2,503 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
10015
Utilities
Heating system
Natural Gas, Heat Pump (Heating)
Cooling system
Central Air
Building Details
Year built
1915
Number of units
1
Building materials
Masonry
Architectural style
Other
Listing Agency:
RE/MAX Access · RE/MAX International
(215) 400-2600
Listed By:
Edward P Diehl · License #AB069544
(215) 817-7602
Added: Feb 16
Changed: Aug 19
Last Checked: Aug 30 at 4:06AM
MLS# PAPH2584746
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 masonry triplex contains three residential units, with each unit configured as two bedrooms and two bathrooms. The property measures 2,503 square feet on a 0.034-acre lot and was built in 1915. The building was redone 2 years ago, with the interiors described as brand new throughout.
Building systems include natural gas and heat pump heating, along with central air conditioning. Parking is provided on the street. The property is located at 1908 N 7TH Street in Philadelphia, Pennsylvania 19122.
Building systems include natural gas and heat pump heating, along with central air conditioning. Parking is provided on the street. The property is located at 1908 N 7TH Street in Philadelphia, Pennsylvania 19122.
Key Highlights
- Three units, each with 2 bedrooms and 2 bathrooms
- 2,503 square feet on a 0.034‑acre lot
- Masonry construction; built in 1915
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
$42,713
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
7.84%
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%
$854,260
$854.3K
Cap Rate 7%
$610,186
$610.2K
Cap Rate 9%
$474,589
$474.6K
Market Conditions
NOI Build-Up for 2,503 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
$64.6K $25.80/SF
− Vacancy
−$3.6K −$1.42/SF
EGI
$61.0K $24.38/SF
− OpEx
−$18.3K −$7.31/SF
NOI
$42.7K $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%
$854,260
Cap Rate 7%
$610,186
Cap Rate 9%
$474,589
Alternative Uses
Best Use
Multifamily LT 5
$610.2K
$533.9K – $711.9K
NOI $42,713 @ 7.0% cap · market cap 7.84%
Second Best
Apartment 5plus
$562.4K
$492.1K – $656.2K
NOI $39,371 @ 7.0% cap · market cap 7.22%
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
2,214
Businesses Nearby
Explore this area
Business Placement
Demographics for 19122, PA
26,668
Population
10,139
Households
2.6
Avg Household Size
28
Median Age
42%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
20,514
Density / Sq Mi
$57,785
Median Household Income
$31,871
Median Earnings
$1,294
Median Rent
$341,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three residences each offer two bedrooms, two bathrooms, and central air conditioning.
Where is this triplex located?
The property is located at 1908 N 7TH Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: Three units, each with 2 bedrooms and 2 bathrooms; 2,503 square feet on a 0.034‑acre lot; Masonry construction; built in 1915
