Philadelphia Duplex Near Temple
For Sale
$800,000
2024 N CARLISLE Street, Philadelphia, PA 19121
MULTI_FAMILY - PHILADELPHIA, PA
Property Size2,157 SF
Lot Size0.02 Acres
Price / SF$370.89
Days on Market156
Property Features for 2024 N CARLISLE Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
On Street
Interior features
Window Treatments
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
2,157 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
5792
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1915
Number of units
2
Building materials
Masonry
Listing Agency:
Keller Williams Main Line · Keller Williams Realty
(610) 520-0100
Listed By:
Carson Merine · License #RS330645
(717) 321-3641
Added: Mar 11
Changed: Jun 9
Last Checked: Aug 13 at 4:06AM
MLS# PAPH2585416
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.
Located blocks from Temple University's main campus at 2024 N Carlisle Street, Philadelphia, this well-maintained duplex offers an exceptional opportunity for investors. The property features two spacious bi-level units, each with four bedrooms and two full bathrooms. Each unit has an open and functional layout complete with central air, stainless steel appliances, and an in-unit stackable washer and dryer. The generous living space is designed for both comfort and convenience. The thoughtfully designed floor plans provide ample room for each resident while maintaining an inviting shared living environment. The property is situated in one of the area's most desirable off-campus housing locations, offering strong rental demand and reliable income potential. The 0.0235-acre lot houses a 2,157-square-foot building. The location provides easy access to public transportation, restaurants, fitness facilities, and neighborhood amenities, making it an ideal location for tenants seeking convenience and accessibility.
Key Highlights
- Prime Location: Just blocks from Temple University's main campus.
- Strong Rental Income Potential: Well‑maintained duplex with consistent demand.
- Spacious Bi‑Level Units: Each unit features four bedrooms and two full bathrooms.
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
Multi-tenant
Tenancy
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex near Temple University, ideal for investors.
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: Prime Location: Just blocks from Temple University's main campus.; Strong Rental Income Potential: Well‑maintained duplex with consistent demand.; Spacious Bi‑Level Units: Each unit features four bedrooms and two full bathrooms.
