Two-Unit Duplex with Rooftop
For Sale
$669,000
1932 N 8TH Street, Philadelphia, PA 19122
Multi-Family, PHILADELPHIA, PA
Property Size2,732 SF
Lot Size0.02 Acres
Price / SF$244.88
Days on Market93
Property Features for 1932 N 8TH Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
On Street
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Standard status
Active
Size
2,732 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
1816
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
private rear yard
private rooftop deck
Building Details
Year built
2022
Number of units
2
Listing Agency:
Market Force Realty
(866) 993-8585
Listed By:
Snyezhana Naymit · License #RS333987
(267) 515-3791
Added: Jun 14
Changed: Sep 2
Last Checked: Sep 14 at 11:06AM
MLS# PAPH2635988
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.
Completed in September 2022, this 2,732-square-foot duplex contains two residences, each arranged across two levels. The lower unit includes 3 bedrooms, 2 full bathrooms, additional space for a potential third bathroom, and a private rear yard. The upper residence offers 3 bedrooms, 3 full bathrooms, and its own rooftop deck. Both units feature contemporary finishes, central air, and forced-air heating.
The property is fully leased, with both residences occupied through July 2027. On-street parking serves the property, while public transportation, Center City Philadelphia, and Temple University are identified in the surrounding area. Approximately 6 years remain on the tax abatement.
The property is fully leased, with both residences occupied through July 2027. On-street parking serves the property, while public transportation, Center City Philadelphia, and Temple University are identified in the surrounding area. Approximately 6 years remain on the tax abatement.
Key Highlights
- 2,732‑square‑foot duplex completed in September 2022
- Two residences, each configured across two levels
- Lower unit: 3 bedrooms, 2 full bathrooms, rear yard, 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
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Open Analytics
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
Check the figures for this property
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 - Contemporary duplex with two separately configured residences, private outdoor areas, and full occupancy through July 2027.
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: 2,732‑square‑foot duplex completed in September 2022; Two residences, each configured across two levels; Lower unit: 3 bedrooms, 2 full bathrooms, rear yard, and space for a third bathroom
