Top-Floor Income Property with Private
For Sale
$199,000
2020 CHRISTIAN STREET Unit E, Philadelphia, PA 19146
Tenant occupied through May 31, 2027, with a one-bedroom, one-bath layout and hardwood floors.
Property Size410 SF
Days on Market89
Property Features for 2020 CHRISTIAN STREET Unit E
General Information
Standard status
Active
Size
410 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$1,706
Building Details
Building Size
410 SF
Year Built
1900
Listing Agency:
BHHS Fox & Roach The Harper at Rittenhouse Square
Listed By:
Marc A. Hammarberg · License #AB067991
(215) 790-5501
Source:
Patmckennarealtors
Added: Jun 13
Changed: Sep 2
Last Checked: Sep 8 at 11:39AM
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 BHHS Fox & Roach The Harper at Rittenhouse Square
Investment Insights
Based on property information with market context.
This top-floor residential income property at 2020 Christian Street, Unit E, offers a one-bedroom, one-bath configuration within 410 square feet. The interior includes hardwood flooring, a living area adaptable to dining or work-from-home use, and a kitchen outfitted with granite countertops, maple cabinetry, stainless-steel appliances, a glass tile backsplash, and gas cooking. The bedroom has northern exposure and Center City views, while the adjacent bath includes a vessel sink and tub-shower combination. Laundry is located in the basement.
A large private deck extends the usable space outdoors. The property is in Philadelphia’s Graduate Hospital neighborhood, near dining, fitness, parks, shopping, and everyday services, with access to Rittenhouse Square, Schuylkill River Park, South Street, Washington Avenue, CHOP, and Penn Medicine. The unit is tenant occupied through May 31, 2027, and the building dates to 1900.
A large private deck extends the usable space outdoors. The property is in Philadelphia’s Graduate Hospital neighborhood, near dining, fitness, parks, shopping, and everyday services, with access to Rittenhouse Square, Schuylkill River Park, South Street, Washington Avenue, CHOP, and Penn Medicine. The unit is tenant occupied through May 31, 2027, and the building dates to 1900.
Key Highlights
- Large private deck at a top‑floor unit
- 410 SF one‑bedroom, one‑bath condominium layout
- Tenant occupied through May 31, 2027
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
$6,449
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
3.24%
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%
$128,980
$129.0K
Cap Rate 7%
$92,129
$92.1K
Cap Rate 9%
$71,656
$71.7K
Market Conditions
NOI Build-Up for 410 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
$12.4K $30.36/SF
− Vacancy
−$722 −$1.76/SF
EGI
$11.7K $28.60/SF
− OpEx
−$5.3K −$12.87/SF
NOI
$6.4K $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%
$128,980
Cap Rate 7%
$92,129
Cap Rate 9%
$71,656
Alternative Uses
Best Use
Apartment 5plus
$92.1K
$80.6K – $107.5K
NOI $6,449 @ 7.0% cap · market cap 3.24%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$100.0K
$87.5K – $116.6K
NOI $6,997 @ 7.0% cap · market cap 3.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,711
Businesses Nearby
Explore this area
Business Placement
Demographics for 19146, PA
41,920
Population
22,182
Households
1.9
Avg Household Size
34
Median Age
65%
College-Educated
94%
High-School Grad
1.7 sq mi
ZIP Area
24,659
Density / Sq Mi
$99,702
Median Household Income
$68,849
Median Earnings
$1,708
Median Rent
$452,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Tenant occupied through May 31, 2027, with a one-bedroom, one-bath layout and hardwood floors.
Where is this residential income property located?
The property is located at 2020 CHRISTIAN STREET Unit E Philadelphia, PA.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Large private deck at a top‑floor unit; 410 SF one‑bedroom, one‑bath condominium layout; Tenant occupied through May 31, 2027
