Bi-Level Residential Income
For Sale
$379,900
200 LOMBARD STREET Unit 717, Philadelphia, PA 19147
Remodeled condo with river and bridge views, private balcony, fireplace, and full-service building amenities in Philadelphia.
Property Size1,115 SF
Days on Market174
Property Features for 200 LOMBARD STREET Unit 717
General Information
Standard status
Active
Size
1,115 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$5,341
Building Details
Building Size
1,115 SF
Year Built
1985
Listing Agency:
Innovate Real Estate
Listed By:
Lauren M Arechaga · License #RS221714L
(215) 723-4073
Source:
Patmckennarealtors
Added: Mar 20
Changed: Aug 30
Last Checked: Sep 9 at 6:19AM
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 Innovate Real Estate
Investment Insights
Based on property information with market context.
This bi-level condominium combines an open main-level living area with a remodeled kitchen and a private second-level primary suite. The kitchen renovation, completed in 2019, includes quartz countertops, high-gloss cabinetry, Bosch stainless steel appliances, an induction cooktop, built-in oven and microwave, integrated dishwasher, pantry storage, and seating at the central island. White oak engineered flooring, a wood-burning fireplace, and a wall of windows define the living and dining space. The primary suite has three closets, built-in storage, a makeup vanity, private balcony, and river and bridge views. Its bathroom was renovated in 2019 with a walk-in shower measuring 80 x 53, body jets, handheld and rain shower fixtures, and a separate water closet. Additional improvements include a 2022 powder room renovation, Pella windows, Mitsubishi mini-split systems, and Hunter Douglas blinds.
Built in 1985, the building provides 24/7 doorman service, on-site maintenance, a fitness center, community room, garden area, and an on-site garage with parking available for an additional fee. The property is near Headhouse Square Farmers Market, restaurants, Penn's Landing, and South Street.
Built in 1985, the building provides 24/7 doorman service, on-site maintenance, a fitness center, community room, garden area, and an on-site garage with parking available for an additional fee. The property is near Headhouse Square Farmers Market, restaurants, Penn's Landing, and South Street.
Key Highlights
- Bi‑level condo with Delaware River, Benjamin Franklin Bridge, and Walt Whitman Bridge views
- 2019 kitchen renovation with quartz counters, Bosch appliances, induction cooktop, island, and pantry
- Primary suite includes three closets, built‑in storage, private balcony, and remodeled 2019 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
$17,538
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
4.62%
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%
$350,760
$350.8K
Cap Rate 7%
$250,543
$250.5K
Cap Rate 9%
$194,867
$194.9K
Market Conditions
NOI Build-Up for 1,115 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
$33.9K $30.36/SF
− Vacancy
−$2.0K −$1.76/SF
EGI
$31.9K $28.60/SF
− OpEx
−$14.3K −$12.87/SF
NOI
$17.5K $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%
$350,760
Cap Rate 7%
$250,543
Cap Rate 9%
$194,867
Alternative Uses
Best Use
Apartment 5plus
$250.5K
$219.2K – $292.3K
NOI $17,538 @ 7.0% cap · market cap 4.62%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$271.8K
$237.8K – $317.1K
NOI $19,027 @ 7.0% cap · market cap 5.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
10,805
Businesses Nearby
Explore this area
Business Placement
Demographics for 19147, PA
41,096
Population
20,735
Households
2
Avg Household Size
36
Median Age
69%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
31,612
Density / Sq Mi
$104,190
Median Household Income
$71,905
Median Earnings
$1,679
Median Rent
$524,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Remodeled condo with river and bridge views, private balcony, fireplace, and full-service building amenities in Philadelphia.
Where is this residential income property located?
The property is located at 200 LOMBARD STREET Unit 717 Philadelphia, PA.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Bi‑level condo with Delaware River, Benjamin Franklin Bridge, and Walt Whitman Bridge views; 2019 kitchen renovation with quartz counters, Bosch appliances, induction cooktop, island, and pantry; Primary suite includes three closets, built‑in storage, private balcony, and remodeled 2019 bathroom
