Bi-Level Duplex With Roof
For Sale
$649,900
1944 N 8TH STREET, Philadelphia, PA 19122
Fully occupied property with two separate residences, private outdoor areas, and laundry in each unit.
Property Size2,838 SF
Days on Market95
Property Features for 1944 N 8TH STREET
General Information
Standard status
Active
Size
2,838 SF
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
2 x 3BR/3BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,822
Amenities
in-unit laundry
private rear yard
roof deck
Building Details
Building Size
2,838 SF
Year Built
2019
Listing Agency:
JG Real Estate LLC
Listed By:
Ariel L Morgenstein · License #AB067988
(215) 467-4100
Source:
Lizclarkrealestate
Added: Jun 5
Changed: Sep 5
Last Checked: Sep 7 at 8:14AM
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 JG Real Estate LLC
Investment Insights
Based on property information with market context.
Built in 2019, this fully occupied duplex contains two separate bi-level residences with a combined six bedrooms and six bathrooms. Both units offer hardwood flooring, recessed lighting, contemporary kitchens with stainless steel appliances, and in-unit laundry. One residence includes a private rear yard, while the upper home features a private roof deck extending across the building with city skyline views. The property also has a remaining tax abatement.
Located at 1944 N 8th Street in Philadelphia, the duplex is within walking distance of Temple University. The two residences share a three-bedroom, three-bathroom configuration, providing consistent layouts across the building while allowing for distinct private outdoor spaces.
Located at 1944 N 8th Street in Philadelphia, the duplex is within walking distance of Temple University. The two residences share a three-bedroom, three-bathroom configuration, providing consistent layouts across the building while allowing for distinct private outdoor spaces.
Key Highlights
- Two fully occupied bi‑level units with 6 bedrooms and 6 bathrooms combined
- Built in 2019 with remaining tax abatement
- Both residences include hardwood floors, recessed lighting, stainless steel appliances, and in‑unit laundry
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
$48,430
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
7.45%
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%
$968,600
$968.6K
Cap Rate 7%
$691,857
$691.9K
Cap Rate 9%
$538,111
$538.1K
Market Conditions
NOI Build-Up for 2,838 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
$73.2K $25.80/SF
− Vacancy
−$4.0K −$1.42/SF
EGI
$69.2K $24.38/SF
− OpEx
−$20.8K −$7.31/SF
NOI
$48.4K $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%
$968,600
Cap Rate 7%
$691,857
Cap Rate 9%
$538,111
Alternative Uses
Best Use
Multifamily LT 5
$691.9K
$605.4K – $807.2K
NOI $48,430 @ 7.0% cap · market cap 7.45%
Second Best
Apartment 5plus
$637.7K
$558.0K – $744.0K
NOI $44,640 @ 7.0% cap · market cap 6.87%
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 - Fully occupied property with two separate residences, private outdoor areas, and laundry in each unit.
Where is this duplex located?
The property is located at 1944 N 8TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Two fully occupied bi‑level units with 6 bedrooms and 6 bathrooms combined; Built in 2019 with remaining tax abatement; Both residences include hardwood floors, recessed lighting, stainless steel appliances, and in‑unit laundry
