Two-Unit Duplex with Separate
For Sale
$178,000
203 WIDENER STREET, Philadelphia, PA 19120
Two residential units offer separate kitchens, living areas, and flexible occupancy options.
Property Size1,050 SF
Price / SF$169.52
Days on Market12
Property Features for 203 WIDENER STREET
General Information
Standard status
Active
Size
1,050 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1938
Buildings
1
Listing Agency:
Redstone Run Realty, LLC
Listed By:
Xander Weidenbaum
(570) 390-4646
Source:
Cummingsrealtors
Added: Sep 21
Changed: Oct 1
Last Checked: Oct 1 at 11:34AM
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 Redstone Run Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1938, this Philadelphia duplex contains two separate residential units under one roof. Each unit includes two bedrooms, one full bathroom, a kitchen, and a living area, creating a total of 4 bedrooms and 2 full bathrooms across the property. The layouts include generously sized rooms and multiple windows, while the kitchens provide cabinetry and counter space. Interior finishes offer room for cosmetic updates and personalization.
Located at 203 Widener Street, the property supports several occupancy configurations, including renting both units, living in one unit while leasing the other, or accommodating multiple generations. The two-unit arrangement and separate kitchens provide practical separation for residents, while the existing interiors offer a foundation for improvements.
Located at 203 Widener Street, the property supports several occupancy configurations, including renting both units, living in one unit while leasing the other, or accommodating multiple generations. The two-unit arrangement and separate kitchens provide practical separation for residents, while the existing interiors offer a foundation for improvements.
Key Highlights
- Two‑unit duplex at 203 Widener Street, Philadelphia, PA 19120
- Each unit includes 2 bedrooms and 1 full bathroom
- Property totals 4 bedrooms and 2 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
$11,375
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
6.39%
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%
$227,500
$227.5K
Cap Rate 7%
$162,500
$162.5K
Cap Rate 9%
$126,389
$126.4K
Market Conditions
NOI Build-Up for 1,050 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
$17.5K $16.68/SF
− Vacancy
−$1.3K −$1.20/SF
EGI
$16.2K $15.48/SF
− OpEx
−$4.9K −$4.64/SF
NOI
$11.4K $10.83/SF
Area
ZIP 19120
Vacancy
7.22%
Lease Rate
$16.68 /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%
$227,500
Cap Rate 7%
$162,500
Cap Rate 9%
$126,389
Alternative Uses
Best Use
Multifamily LT 5
$162.5K
$142.2K – $189.6K
NOI $11,375 @ 7.0% cap · market cap 6.39%
Second Best
Apartment 5plus
$144.5K
$126.5K – $168.6K
NOI $10,117 @ 7.0% cap · market cap 5.68%
Theoretical Best
Office A
$250.8K
$219.5K – $292.6K
NOI $17,558 @ 7.0% cap · market cap 9.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,238
Businesses Nearby
Explore this area
Business Placement
Demographics for 19120, PA
66,177
Population
25,730
Households
2.6
Avg Household Size
35
Median Age
13%
College-Educated
77%
High-School Grad
3.2 sq mi
ZIP Area
20,680
Density / Sq Mi
$51,993
Median Household Income
$32,980
Median Earnings
$1,186
Median Rent
$143,500
Median Home Value
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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 residential units offer separate kitchens, living areas, and flexible occupancy options.
Where is this duplex located?
The property is located at 203 WIDENER STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $178,000.
What are key features of this property?
This property features: Two‑unit duplex at 203 Widener Street, Philadelphia, PA 19120; Each unit includes 2 bedrooms and 1 full bathroom; Property totals 4 bedrooms and 2 full bathrooms
