6-Bed Duplex Income
For Sale
$580,000
1923 N 18Th Street, Philadelphia, PA 19121
Two large bilevel duplex units offer central air, laundry, and fenced backyard space, all currently fully rented.
Property Size2,724 SF
Price / SF$212.92
Days on Market364
Property Features for 1923 N 18Th Street
General Information
Standard status
Active
Size
2,724 SF
Property subtype
Multi-Family
Zoning
RM1
Occupancy
100%
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,733
Amenities
fenced backyard
central air and heating
laundry
Full
Instant Hot Water
Yes
Electric
No
3
All
Assessor
No Pool
Public
W50
16.00 x 80.00
0.03
On Street
110500.00
Building Details
Building Size
2,724 SF
Year Built
2012
Tenancy
Multi
Listing Agency:
eRealty Advisors, Inc
(856) 222-0077
Listed By:
Ryan LeBon
Source:
Thetristaterealestategroup
Added: Sep 9, 2025
Changed: Sep 6
Last Checked: Sep 6 at 4:45AM
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 eRealty Advisors, Inc
Investment Insights
Based on property information with market context.
This for-sale duplex features two large bilevel units, each with six bedrooms and three bathrooms. Unit 1 includes the first floor and basement level, with a large living room, kitchen, and a fenced backyard, along with laundry located in the basement. The unit layout provides three bedrooms and one bathroom on the first floor and three bedrooms and two bathrooms at the basement level, with egress windows throughout. Each unit also has central air and heating, with laundry available in the units.
The second and third levels are configured as bilevel apartment space with modern kitchens and large living rooms, and they also include egress windows. The property is described as within walking distance to Temple University campus.
The listing indicates the duplex is fully rented, and that utilities are separated, with central heating and air serving the units.
The second and third levels are configured as bilevel apartment space with modern kitchens and large living rooms, and they also include egress windows. The property is described as within walking distance to Temple University campus.
The listing indicates the duplex is fully rented, and that utilities are separated, with central heating and air serving the units.
Key Highlights
- 2012‑built duplex with two large bilevel units, each with central air and heating
- Fully rented with reported income of $6,275/month plus utilities separated at about $1,200/month for total about $7,475/month
- Unit 1: 6 bedrooms, 3 bathrooms with large living room, kitchen, fenced backyard, and laundry in basement
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
$46,485
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
8.01%
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%
$929,700
$929.7K
Cap Rate 7%
$664,071
$664.1K
Cap Rate 9%
$516,500
$516.5K
Market Conditions
NOI Build-Up for 2,724 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
$70.3K $25.80/SF
− Vacancy
−$3.9K −$1.42/SF
EGI
$66.4K $24.38/SF
− OpEx
−$19.9K −$7.31/SF
NOI
$46.5K $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%
$929,700
Cap Rate 7%
$664,071
Cap Rate 9%
$516,500
Alternative Uses
Best Use
Multifamily LT 5
$664.1K
$581.1K – $774.8K
NOI $46,485 @ 7.0% cap · market cap 8.01%
Second Best
Apartment 5plus
$612.1K
$535.6K – $714.1K
NOI $42,847 @ 7.0% cap · market cap 7.39%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
2,097
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?
Duplex - Two large bilevel duplex units offer central air, laundry, and fenced backyard space, all currently fully rented.
Where is this duplex located?
The property is located at 1923 N 18Th Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: 2012‑built duplex with two large bilevel units, each with central air and heating; Fully rented with reported income of $6,275/month plus utilities separated at about $1,200/month for total about $7,475/month; Unit 1: 6 bedrooms, 3 bathrooms with large living room, kitchen, fenced backyard, and laundry in basement
