Updated Two-Unit
For Sale
$725,000
2028 S 13TH Street, Philadelphia, PA 19148
Multi-Family, PHILADELPHIA, PA
Property Size2,266 SF
Lot Size0.05 Acres
Price / SF$319.95
Days on Market139
Property Features for 2028 S 13TH Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
On Street
Subdivision
EAST PASSYUNK CROSSING
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Standard status
Active
Size
2,266 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
7277
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
outdoor space
central air
in-unit laundry
en-suite bathrooms
finished lower level
kitchenette
Building Details
Year built
1920
Number of units
2
Building materials
Masonry
Listing Agency:
EXP Realty, LLC
(888) 397-7352
Listed By:
Michael V Giuda · License #AB067121
(215) 227-3333
Added: May 1
Changed: Aug 19
Last Checked: Sep 16 at 3:06AM
MLS# PAPH2614978
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 masonry duplex contains 2,266 square feet and was built in 1920. The first-floor residence includes 2 bedrooms and 2 full bathrooms, along with hardwood and tile flooring, a contemporary kitchen with granite countertops and stainless-steel appliances, central air, and in-unit laundry. Its finished lower level provides additional flexible space, storage, and a kitchenette-style area with granite countertops and a sink. A private yard serves the first-floor unit.
The second-floor residence offers 3 bedrooms and 2 full bathrooms with hardwood flooring, an open living and dining arrangement, central air, and a kitchen featuring granite countertops, a breakfast bar, tile flooring, cabinetry, and modern appliances. Both residences include a primary bedroom with an en-suite bathroom and their own washer and dryer. The property is located at 2028 S 13TH Street in Philadelphia’s East Passyunk Crossing, near cafes, restaurants, shopping, public transportation, major highways, and bridges.
The second-floor residence offers 3 bedrooms and 2 full bathrooms with hardwood flooring, an open living and dining arrangement, central air, and a kitchen featuring granite countertops, a breakfast bar, tile flooring, cabinetry, and modern appliances. Both residences include a primary bedroom with an en-suite bathroom and their own washer and dryer. The property is located at 2028 S 13TH Street in Philadelphia’s East Passyunk Crossing, near cafes, restaurants, shopping, public transportation, major highways, and bridges.
Key Highlights
- Two‑unit duplex with 2,266 square feet on a 0.0465‑acre lot
- First‑floor unit offers 2 bedrooms, 2 full baths, a finished lower level, and a private yard
- Second‑floor unit includes 3 bedrooms, 2 full baths, and an open living/dining layout
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
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Current Use
Lease Details
2
Residential units
Yes
Highway access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residences offer private outdoor space, finished bonus area, central cooling, and in-unit laundry.
Where is this duplex located?
The property is located at 2028 S 13TH Street 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 2,266 square feet on a 0.0465‑acre lot; First‑floor unit offers 2 bedrooms, 2 full baths, a finished lower level, and a private yard; Second‑floor unit includes 3 bedrooms, 2 full baths, and an open living/dining layout
