Newer-Construction
For Sale
$669,000
1932 N 8TH STREET, Philadelphia, PA 19122
Two leased residential units offer modern finishes, private outdoor spaces, and distinct multi-level layouts.
Property Size2,732 SF
Days on Market87
Property Features for 1932 N 8TH STREET
General Information
Standard status
Active
Size
2,732 SF
Property subtype
Duplex
Occupancy
100%
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,816
Building Details
Building Size
2,732 SF
Year Built
2022
Listing Agency:
Market Force Realty
Listed By:
Snyezhana Naymit · License #RS333987
(267) 515-3791
Source:
Patmckennarealtors
Added: Jun 14
Changed: Sep 8
Last Checked: Sep 7 at 8:00AM
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 Market Force Realty
Investment Insights
Based on property information with market context.
Built in 2022 and completed in September, this duplex contains two residential units arranged across multiple levels. The lower unit includes 3 bedrooms, 2 full bathrooms, additional space for a potential third bathroom, and a private rear yard. The upper unit provides 3 bedrooms, 3 full bathrooms, and a private rooftop deck. Both residences feature contemporary finishes and separate outdoor areas.
The property is fully occupied, with both leases extending through July 2027. Approximately 6 years remain on the tax abatement. Located on N 8th St in Philadelphia, the duplex offers access to public transportation, Center City Philadelphia, and Temple University.
The property is fully occupied, with both leases extending through July 2027. Approximately 6 years remain on the tax abatement. Located on N 8th St in Philadelphia, the duplex offers access to public transportation, Center City Philadelphia, and Temple University.
Key Highlights
- Built in 2022; completed in September 2022
- Two fully occupied residential units leased through July 2027
- Lower unit: 3 bedrooms, 2 full bathrooms, and space for a third bathroom
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
$46,621
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
6.97%
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%
$932,420
$932.4K
Cap Rate 7%
$666,014
$666.0K
Cap Rate 9%
$518,011
$518.0K
Market Conditions
NOI Build-Up for 2,732 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
$70.5K $25.80/SF
− Vacancy
−$3.9K −$1.42/SF
EGI
$66.6K $24.38/SF
− OpEx
−$20.0K −$7.31/SF
NOI
$46.6K $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%
$932,420
Cap Rate 7%
$666,014
Cap Rate 9%
$518,011
Alternative Uses
Best Use
Multifamily LT 5
$666.0K
$582.8K – $777.0K
NOI $46,621 @ 7.0% cap · market cap 6.97%
Second Best
Apartment 5plus
$613.9K
$537.2K – $716.2K
NOI $42,973 @ 7.0% cap · market cap 6.42%
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
Location Intelligence
Trade Area within ½ mile
2,160
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two leased residential units offer modern finishes, private outdoor spaces, and distinct multi-level layouts.
Where is this duplex located?
The property is located at 1932 N 8TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $669,000.
What are key features of this property?
This property features: Built in 2022; completed in September 2022; Two fully occupied residential units leased through July 2027; Lower unit: 3 bedrooms, 2 full bathrooms, and space for a third bathroom
