Courtyard Residential Income
New
For Sale
$379,900
1908 POPLAR STREET Unit A, Philadelphia, PA 19130
Two-level condo with private outdoor space, flexible living areas, and access to neighborhood dining, shopping, and cultural destinations.
Property Size1,418 SF
Days on Market7
Property Features for 1908 POPLAR STREET Unit A
General Information
Standard status
Active
Size
1,418 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,016
Amenities
granite countertops
stainless steel appliances
private patio and backyard
additional storage unit
laundry room
Building Details
Building Size
1,418 SF
Year Built
2013
Listing Agency:
KW Empower
Listed By:
Melanie M. McConnell · License #RS307169
(215) 200-7413
Source:
Patmckennarealtors
Added: Sep 14
Changed: Sep 19
Last Checked: Sep 20 at 11:14AM
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 2013, this two-bedroom, two-bath condominium is positioned within a private courtyard and includes a multi-level rear yard. The main floor combines living, dining, and kitchen areas in an open arrangement, with granite counters, stainless steel appliances, substantial cabinetry, and dedicated preparation space. The primary bedroom is also located on this level and includes an en-suite bathroom and generous closet storage.
The lower level adds a second living area, another bedroom, a full bathroom, laundry facilities, and additional storage. A private patio and backyard extend the usable space, while a separate storage unit provides further utility. The property is in Philadelphia’s Fairmount neighborhood, near coffee shops, restaurants, shopping, Whole Foods, Fairmount Park, the Parkway museums, and Center City.
The lower level adds a second living area, another bedroom, a full bathroom, laundry facilities, and additional storage. A private patio and backyard extend the usable space, while a separate storage unit provides further utility. The property is in Philadelphia’s Fairmount neighborhood, near coffee shops, restaurants, shopping, Whole Foods, Fairmount Park, the Parkway museums, and Center City.
Key Highlights
- 2 bed/2 bath condominium built in 2013
- Private courtyard setting with a multi‑level rear yard
- Open main‑level living, dining, and kitchen areas
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
$22,304
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
5.87%
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%
$446,080
$446.1K
Cap Rate 7%
$318,629
$318.6K
Cap Rate 9%
$247,822
$247.8K
Market Conditions
NOI Build-Up for 1,418 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
$43.1K $30.36/SF
− Vacancy
−$2.5K −$1.76/SF
EGI
$40.6K $28.60/SF
− OpEx
−$18.2K −$12.87/SF
NOI
$22.3K $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%
$446,080
Cap Rate 7%
$318,629
Cap Rate 9%
$247,822
Alternative Uses
Best Use
Apartment 5plus
$318.6K
$278.8K – $371.7K
NOI $22,304 @ 7.0% cap · market cap 5.87%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$345.7K
$302.5K – $403.3K
NOI $24,198 @ 7.0% cap · market cap 6.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,566
Businesses Nearby
Explore this area
Business Placement
Demographics for 19130, PA
31,477
Population
18,178
Households
1.7
Avg Household Size
34
Median Age
78%
College-Educated
98%
High-School Grad
1.2 sq mi
ZIP Area
26,231
Density / Sq Mi
$110,436
Median Household Income
$76,051
Median Earnings
$1,836
Median Rent
$483,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-level condo with private outdoor space, flexible living areas, and access to neighborhood dining, shopping, and cultural destinations.
Where is this residential income property located?
The property is located at 1908 POPLAR STREET Unit A Philadelphia, PA.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: 2 bed/2 bath condominium built in 2013; Private courtyard setting with a multi‑level rear yard; Open main‑level living, dining, and kitchen areas
