Four-Bedroom
For Sale
$879,000
1927 N GRATZ STREET, Philadelphia, PA 19121
Two residential units offer spacious layouts with central air conditioning and forced-air heating.
Property Size2,601 SF
Price / SF$337.95
Days on Market450
Property Features for 1927 N GRATZ STREET
General Information
Standard status
Active
Size
2,601 SF
Property subtype
Duplex
Units
Unit Mix
2 x 4BR/2BA
Multifamily Units
2
Amenities
Central A/C
Forced Air
Building Details
Year Built
2012
Listing Agency:
KW Empower
Listed By:
Ben Hooson-Jones · License #RS341131
(610) 368-9041
Source:
Kw
Added: Jul 1, 2025
Changed: Sep 21
Last Checked: Sep 22 at 9:55PM
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 2012, this 2,601-square-foot duplex at 1927 N Gratz Street includes two residential units. Each unit has four bedrooms and two full bathrooms, providing a consistent eight-bedroom, four-bathroom configuration across the property. Interior systems include central A/C and forced air.
The property is located in Philadelphia, PA 19121, just blocks from Temple University. Unit 1 features four bedrooms, two bathrooms, and a functional interior layout. Unit 2 also includes four bedrooms and two full bathrooms, with oversized bedrooms and a similarly spacious arrangement.
The property is located in Philadelphia, PA 19121, just blocks from Temple University. Unit 1 features four bedrooms, two bathrooms, and a functional interior layout. Unit 2 also includes four bedrooms and two full bathrooms, with oversized bedrooms and a similarly spacious arrangement.
Key Highlights
- 2,601‑square‑foot duplex built in 2012
- Two residential units, each with 4 bedrooms and 2 full bathrooms
- Eight bedrooms and four full bathrooms across the property
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
$44,386
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
5.05%
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%
$887,720
$887.7K
Cap Rate 7%
$634,086
$634.1K
Cap Rate 9%
$493,178
$493.2K
Market Conditions
NOI Build-Up for 2,601 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
$67.1K $25.80/SF
− Vacancy
−$3.7K −$1.42/SF
EGI
$63.4K $24.38/SF
− OpEx
−$19.0K −$7.31/SF
NOI
$44.4K $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%
$887,720
Cap Rate 7%
$634,086
Cap Rate 9%
$493,178
Alternative Uses
Best Use
Multifamily LT 5
$634.1K
$554.8K – $739.8K
NOI $44,386 @ 7.0% cap · market cap 5.05%
Second Best
Apartment 5plus
$584.5K
$511.4K – $681.9K
NOI $40,912 @ 7.0% cap · market cap 4.65%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer spacious layouts with central air conditioning and forced-air heating.
Where is this duplex located?
The property is located at 1927 N GRATZ STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $879,000.
What are key features of this property?
This property features: 2,601‑square‑foot duplex built in 2012; Two residential units, each with 4 bedrooms and 2 full bathrooms; Eight bedrooms and four full bathrooms across the property
