Historic Residential Income
For Sale
$190,000
20 E PENN STREET Unit 1, Philadelphia, PA 19144
First-floor condominium with period detailing, modern systems, private outdoor space, and designated off-street parking.
Property Size1,004 SF
Days on Market25
Property Features for 20 E PENN STREET Unit 1
General Information
Standard status
Active
Size
1,004 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$2,466
Building Details
Building Size
1,004 SF
Year Built
1900
Listing Agency:
Compass Pennsylvania, LLC
Listed By:
Lauren Morihara · License #RS353436
(215) 559-4859
Source:
Mainlinekw
Added: Aug 16
Changed: Sep 3
Last Checked: Sep 8 at 10:42AM
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 Compass Pennsylvania, LLC
Investment Insights
Based on property information with market context.
This first-floor condominium occupies part of a historic residence built in 1900 and later divided into six individual homes. The interior combines 10-foot ceilings, hardwood flooring, original millwork, built-in cabinetry, central air conditioning, and a decorative fireplace. An updated eat-in kitchen provides a center island and pantry storage, while the bedroom includes a walk-in closet, ensuite bath, and access to a covered patio facing the grounds. One designated off-street parking space and additional storage are included.
The property is positioned on nearly half an acre along a tree-lined street in Germantown. Germantown Avenue shops and restaurants are nearby, with Germantown Kitchen Garden, Maker Artisan Pizza, Uncle Bobbie’s Coffee & Books, and several schools and parks within a short walk. The Wissahickon trail system, Vernon Park, Fernhill Park, Cloverly Park, and the Germantown Weavers Way Co-op are also within minutes.
The property is positioned on nearly half an acre along a tree-lined street in Germantown. Germantown Avenue shops and restaurants are nearby, with Germantown Kitchen Garden, Maker Artisan Pizza, Uncle Bobbie’s Coffee & Books, and several schools and parks within a short walk. The Wissahickon trail system, Vernon Park, Fernhill Park, Cloverly Park, and the Germantown Weavers Way Co-op are also within minutes.
Key Highlights
- First‑floor condominium within a historic residence built in 1900
- 10‑foot ceilings, hardwood floors, original millwork, and built‑in cabinetry
- Updated eat‑in kitchen with center island and pantry storage
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
$15,792
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
8.31%
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%
$315,840
$315.8K
Cap Rate 7%
$225,600
$225.6K
Cap Rate 9%
$175,467
$175.5K
Market Conditions
NOI Build-Up for 1,004 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
$30.5K $30.36/SF
− Vacancy
−$1.8K −$1.76/SF
EGI
$28.7K $28.60/SF
− OpEx
−$12.9K −$12.87/SF
NOI
$15.8K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$315,840
Cap Rate 7%
$225,600
Cap Rate 9%
$175,467
Alternative Uses
Best Use
Apartment 5plus
$225.6K
$197.4K – $263.2K
NOI $15,792 @ 7.0% cap · market cap 8.31%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$244.8K
$214.2K – $285.6K
NOI $17,133 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,901
Businesses Nearby
Explore this area
Business Placement
Demographics for 19144, PA
44,481
Population
23,583
Households
1.9
Avg Household Size
37
Median Age
35%
College-Educated
90%
High-School Grad
3.6 sq mi
ZIP Area
12,356
Density / Sq Mi
$45,727
Median Household Income
$36,020
Median Earnings
$1,110
Median Rent
$224,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - First-floor condominium with period detailing, modern systems, private outdoor space, and designated off-street parking.
Where is this residential income property located?
The property is located at 20 E PENN STREET Unit 1 Philadelphia, PA.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: First‑floor condominium within a historic residence built in 1900; 10‑foot ceilings, hardwood floors, original millwork, and built‑in cabinetry; Updated eat‑in kitchen with center island and pantry storage
