Two-Unit Duplex with Tax
For Sale
$569,900
1956 N 8TH Street, Philadelphia, PA 19122
Multi-Family, PHILADELPHIA, PA
Property Size2,415 SF
Lot Size0.02 Acres
Price / SF$235.98
Days on Market120
Property Features for 1956 N 8TH Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Subdivision
TEMPLE UNIVERSITY
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
2,415 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
1760
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
in-unit washer and dryer
private rear yard
Building Details
Year built
2019
Number of units
2
Listing Agency:
EXP Realty, LLC
(888) 397-7352
Listed By:
Lay Gauv · License #RS340985
(267) 259-6034
Added: May 8
Changed: Aug 20
Last Checked: Sep 4 at 12:06AM
MLS# PAPH2616550
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.
This 2,415-square-foot legal duplex was built in 2019 and benefits from a tax abatement. The property contains two residential units, each equipped with an in-unit washer and dryer. The first unit spans the first floor and basement, with four bedrooms, three full bathrooms, and access to a private rear yard. The second unit occupies the second and third floors and offers a flexible four- to five-bedroom configuration with two full bathrooms. Forced-air heating and central air serve the building.
The property is near Temple University, the regional rail line, public transportation, shopping, and dining. The first-floor unit is leased with the stated lease expiration of 7/26/2027, while the upper unit is vacant.
The property is near Temple University, the regional rail line, public transportation, shopping, and dining. The first-floor unit is leased with the stated lease expiration of 7/26/2027, while the upper unit is vacant.
Key Highlights
- Legal duplex with tax abatement in place
- 2,415 square feet on a 0.0246‑acre lot
- Built in 2019 with forced‑air heating and central air
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
$41,212
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
7.23%
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%
$824,240
$824.2K
Cap Rate 7%
$588,743
$588.7K
Cap Rate 9%
$457,911
$457.9K
Market Conditions
NOI Build-Up for 2,415 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
$62.3K $25.80/SF
− Vacancy
−$3.4K −$1.42/SF
EGI
$58.9K $24.38/SF
− OpEx
−$17.7K −$7.31/SF
NOI
$41.2K $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%
$824,240
Cap Rate 7%
$588,743
Cap Rate 9%
$457,911
Alternative Uses
Best Use
Multifamily LT 5
$588.7K
$515.2K – $686.9K
NOI $41,212 @ 7.0% cap · market cap 7.23%
Second Best
Apartment 5plus
$542.7K
$474.8K – $633.1K
NOI $37,987 @ 7.0% cap · market cap 6.67%
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
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 - 2019-built legal duplex with flexible four- to five-bedroom upper-level layout and private rear yard access.
Where is this duplex located?
The property is located at 1956 N 8TH Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $569,900.
What are key features of this property?
This property features: Legal duplex with tax abatement in place; 2,415 square feet on a 0.0246‑acre lot; Built in 2019 with forced‑air heating and central air
