Updated Duplex with Private
For Sale
$725,000
2028 S 13th St, Philadelphia, PA 19148
Two-unit property with renovated interiors, finished lower-level space, central air, and in-unit laundry.
Property Size2,266 SF
Price / SF$319.95
Days on Market12
Property Features for 2028 S 13th St
General Information
Standard status
Active
Size
2,266 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/2BA, 1 x 3BR/2BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
central air
in-unit laundry
en-suite bathrooms
private yard
finished lower level
kitchenette
Building Details
Year Built
1920
Buildings
1
Listing Agency:
EXP Realty, LLC
(215) 783-3697
Listed By:
Michael V Giuda · License #AB067121
Source:
Upgradebymichaud
Added: Aug 21
Changed: Aug 29
Last Checked: Aug 31 at 6:35PM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This 1920-built duplex contains two separately configured residences with updated finishes and practical layouts. The first-floor unit offers two bedrooms and two full baths, hardwood and tile flooring, a modern kitchen with granite counters, wood cabinetry, and stainless-steel appliances, plus a primary suite, central air, and in-unit laundry. Its finished lower level adds flexible bonus space, storage, and a kitchenette-style area with a sink and granite counter. A large private yard is also included.
The second-floor unit provides three bedrooms and two full baths, along with hardwood flooring, central air, an open living and dining arrangement, and a kitchen featuring granite counters, a breakfast bar, tile flooring, wood cabinetry, and modern appliances. The primary bedroom has an en-suite bath, and the unit includes ceiling fans, closet space, and its own washer and dryer. The property is in East Passyunk Crossing near cafes, restaurants, shopping, public transportation, major highways, and bridges.
The second-floor unit provides three bedrooms and two full baths, along with hardwood flooring, central air, an open living and dining arrangement, and a kitchen featuring granite counters, a breakfast bar, tile flooring, wood cabinetry, and modern appliances. The primary bedroom has an en-suite bath, and the unit includes ceiling fans, closet space, and its own washer and dryer. The property is in East Passyunk Crossing near cafes, restaurants, shopping, public transportation, major highways, and bridges.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 2 full baths in the first‑floor residence
- Second‑floor residence includes 3 bedrooms and 2 full baths
- Finished lower level with bonus space, storage, and kitchenette‑style area
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
$38,669
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
5.33%
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%
$773,380
$773.4K
Cap Rate 7%
$552,414
$552.4K
Cap Rate 9%
$429,656
$429.7K
Market Conditions
NOI Build-Up for 2,266 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
$58.5K $25.80/SF
− Vacancy
−$3.2K −$1.42/SF
EGI
$55.2K $24.38/SF
− OpEx
−$16.6K −$7.31/SF
NOI
$38.7K $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%
$773,380
Cap Rate 7%
$552,414
Cap Rate 9%
$429,656
Alternative Uses
Best Use
Multifamily LT 5
$552.4K
$483.4K – $644.5K
NOI $38,669 @ 7.0% cap · market cap 5.33%
Second Best
Apartment 5plus
$509.2K
$445.5K – $594.1K
NOI $35,643 @ 7.0% cap · market cap 4.92%
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
3,973
Businesses Nearby
Explore this area
Business Placement
Demographics for 19148, PA
53,976
Population
22,944
Households
2.4
Avg Household Size
36
Median Age
39%
College-Educated
85%
High-School Grad
4.2 sq mi
ZIP Area
12,851
Density / Sq Mi
$80,469
Median Household Income
$50,067
Median Earnings
$1,492
Median Rent
$296,800
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-unit property with renovated interiors, finished lower-level space, central air, and in-unit laundry.
Where is this duplex located?
The property is located at 2028 S 13th St Philadelphia, PA.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 2 full baths in the first‑floor residence; Second‑floor residence includes 3 bedrooms and 2 full baths; Finished lower level with bonus space, storage, and kitchenette‑style area
