Bi-Level Duplex Near
New
For Sale
$800,000
2024 N CARLISLE STREET, Philadelphia, PA 19121
Two residential units combine multi-bedroom layouts with central air, stainless appliances, and in-unit laundry.
Property Size2,157 SF
Days on Market3
Property Features for 2024 N CARLISLE STREET
General Information
Standard status
Active
Size
2,157 SF
Property subtype
Duplex
Units
Unit Mix
2 x 4BR/2BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,792
Amenities
central air
stainless steel appliances
in-unit stackable washer and dryer
Building Details
Building Size
2,157 SF
Year Built
1915
Listing Agency:
Keller Williams Main Line
(717) 321-3641
Listed By:
Carson Merine · License #RS330645
(717) 321-3641
Source:
Patmckennarealtors
Added: Aug 9
Changed: Aug 10
Last Checked: Aug 10 at 4:19AM
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 Keller Williams Main Line
Investment Insights
Based on property information with market context.
Built in 1915, this duplex contains two bi-level residential units. Each unit provides four bedrooms and two full bathrooms, along with central air, stainless steel appliances, and an in-unit stackable washer and dryer. The layouts include open shared living areas and additional room for residents across both levels.
The property is located at 2024 N Carlisle Street in Philadelphia, near the main campus of Temple University. Public transportation, restaurants, fitness facilities, and other neighborhood amenities are also nearby.
The property is located at 2024 N Carlisle Street in Philadelphia, near the main campus of Temple University. Public transportation, restaurants, fitness facilities, and other neighborhood amenities are also nearby.
Key Highlights
- Two bi‑level units, each with 4 bedrooms and 2 full bathrooms
- Central air in both units
- Stainless steel appliances
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
$36,809
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
4.60%
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%
$736,180
$736.2K
Cap Rate 7%
$525,843
$525.8K
Cap Rate 9%
$408,989
$409.0K
Market Conditions
NOI Build-Up for 2,157 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
$55.7K $25.80/SF
− Vacancy
−$3.1K −$1.42/SF
EGI
$52.6K $24.38/SF
− OpEx
−$15.8K −$7.31/SF
NOI
$36.8K $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%
$736,180
Cap Rate 7%
$525,843
Cap Rate 9%
$408,989
Alternative Uses
Best Use
Multifamily LT 5
$525.8K
$460.1K – $613.5K
NOI $36,809 @ 7.0% cap · market cap 4.60%
Second Best
Apartment 5plus
$484.7K
$424.1K – $565.5K
NOI $33,929 @ 7.0% cap · market cap 4.24%
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
2,163
Businesses Nearby
Explore this area
Business Placement
Demographics for 19121, PA
41,799
Population
19,673
Households
2.1
Avg Household Size
28
Median Age
25%
College-Educated
84%
High-School Grad
2.4 sq mi
ZIP Area
17,416
Density / Sq Mi
$36,208
Median Household Income
$29,915
Median Earnings
$1,082
Median Rent
$250,100
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 - Two residential units combine multi-bedroom layouts with central air, stainless appliances, and in-unit laundry.
Where is this duplex located?
The property is located at 2024 N CARLISLE STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Two bi‑level units, each with 4 bedrooms and 2 full bathrooms; Central air in both units; Stainless steel appliances
