Remodeled Duplex in West
2001 S NORWOOD Street Philadelphia, PA 19145
MULTI_FAMILY - Other - PHILADELPHIA, PA
Property size:
1,530 SFLot size:
0.02 AcresPrice / SF:
$300/SF- Added:
- Apr 14, 2025
- Days on Market:
- 453
- Last Refresh:
- Jul 10 at 3:06 pm
Property Features for 2001 S NORWOOD Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- On Street
- Standard status
- Active
- Size
- 1,530 SF
- Lot size
- 0.02 Acres
Taxes and HOA fees
- Tax Annual Amount
- 2445
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 1920
- Number of units
- 2
- Building materials
- Masonry
- Architectural style
- Other
Listing agent Gerald P Hill License #RM421402 (267) 242-9172
Listing office Homestarr Realty 850 Easton Road, Warminster, PA (215) 355-5565
Listing date Apr 14, 2025
MLS# PAPH2467006
Listing URL
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 newly remodeled duplex is located in the West Passyunk neighborhood of Philadelphia. The property has new plumbing, HVAC systems, a new roof, and flooring. The property is currently income-producing with two tenants in place. Both tenants are responsible for all utilities, including water. Unit A is a 3-bedroom, 2-bathroom unit with a monthly rent of $1750. Unit B is a 2-bedroom, 1-bathroom unit with a monthly rent of $1350 and a one-year lease. The property is located in a dynamic and rapidly evolving community with local shops, trendy eateries, and cultural attractions. It also has convenient access to public transportation and major highways. The property size is 1530 square feet and the lot size is 0.0187 acres. The property also has a tax abatement.
Key Highlights
- Newly remodeled duplex featuring new plumbing, HVAC, roof, and flooring.
- Active Tax Abatement in place.
- Currently income‑producing with tenants in place.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $39.5k | $25.80 |
| − Vacancy | −$2.2k | −$1.42 |
| EGI | $37.3k | $24.38 |
| − OpEx | −$11.2k | −$7.31 |
| NOI | $26.1k | $17.06 |
1,530 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$373.0K
$326.4K – $435.2K
NOI $26,109 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$343.8K
$300.8K – $401.1K
NOI $24,066 @ 7.0% cap · market cap 5.23%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Newly remodeled duplex in Philadelphia's West Passyunk neighborhood with tax abatement.
Where is this duplex located?
The property is located at 2001 S NORWOOD Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: Newly remodeled duplex featuring new plumbing, HVAC, roof, and flooring.; Active Tax Abatement in place.; Currently income‑producing with tenants in place.
