Duplex with Off-Street
For Sale
$395,000
2041 GRANT AVENUE, Philadelphia, PA 19115
Two-unit property with updated systems, central air, a shared basement, and rear yard space.
Property Size1,610 SF
Price / SF$245.34
Days on Market72
Property Features for 2041 GRANT AVENUE
General Information
Standard status
Active
Size
1,610 SF
Property subtype
Duplex
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Amenities
central air
dishwasher
refrigerator
disposal
shared basement
off street parking
rear yard
Building Details
Year Built
1981
Buildings
1
Listing Agency:
Heyer-Kemner Inc
Listed By:
John F Wogan · License #RM060356A
(215) 673-8100
Source:
Cummingsrealtors
Added: Aug 12
Changed: Oct 21
Last Checked: Oct 20 at 9:01PM
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 Heyer-Kemner Inc
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Investment Insights
Based on property information with market context.
This duplex, constructed in 1981, includes a second-floor unit described as ready for occupancy or rental. The unit features an updated kitchen with dishwasher, refrigerator, and disposal, along with laminate flooring in the living room, dining area, and hallway. Central air is provided, and the property uses electric heat pumps rather than gas service. The second-floor heating and central air equipment was replaced in December 2024.
Additional features include newer circuit breakers and electrical cabling, a shared basement, off-street parking, and a rear yard. The property is near stores, bus lines, and restaurants in Philadelphia’s Bustleton area.
Additional features include newer circuit breakers and electrical cabling, a shared basement, off-street parking, and a rear yard. The property is near stores, bus lines, and restaurants in Philadelphia’s Bustleton area.
Key Highlights
- Two‑unit duplex built in 1981
- Second‑floor unit with updated kitchen appliances and laminate flooring
- Second‑floor heater and central air replaced December, 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,474
Cap Rate
6.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$549,480
$549.5K
Cap Rate 7%
$392,486
$392.5K
Cap Rate 9%
$305,267
$305.3K
Market Conditions
NOI Build-Up for 1,610 SF
Gross rent
$41.5K $25.80/SF
− Vacancy
−$2.3K −$1.42/SF
EGI
$39.2K $24.38/SF
− OpEx
−$11.8K −$7.31/SF
NOI
$27.5K $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 Rate 5%
$549,480
Cap Rate 7%
$392,486
Cap Rate 9%
$305,267
Alternative Uses
Best Use
Multifamily LT 5
$392.5K
$343.4K – $457.9K
NOI $27,474 @ 7.0% cap · market cap 6.96%
Second Best
Apartment 5plus
$361.8K
$316.6K – $422.1K
NOI $25,325 @ 7.0% cap · market cap 6.41%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,642
Businesses Nearby
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Business Placement
Demographics for 19115, PA
35,919
Population
15,071
Households
2.4
Avg Household Size
44
Median Age
37%
College-Educated
92%
High-School Grad
5.2 sq mi
ZIP Area
6,908
Density / Sq Mi
$70,388
Median Household Income
$48,949
Median Earnings
$1,230
Median Rent
$330,500
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
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with updated systems, central air, a shared basement, and rear yard space.
Where is this duplex located?
The property is located at 2041 GRANT AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1981; Second‑floor unit with updated kitchen appliances and laminate flooring; Second‑floor heater and central air replaced December, 2024
