Updated Brick
For Sale
$325,000
Pending
2050 REED STREET, Philadelphia, PA 19146
Two separately metered units offer updated kitchens and bathrooms, in-unit laundry, and basement storage access.
Property Size1,508 SF
Days on Market61
Property Features for 2050 REED STREET
General Information
Standard status
Pending
Size
1,508 SF
Property subtype
Duplex
Site & Location
Neighborhood
South Philadelphia
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Amenities
in-unit laundry
Building Details
Year Built
1923
Buildings
1
Stories
2
Construction
brick
Listing Agency:
RE/MAX Prime Real Estate
Listed By:
Jaimee A. Cohen · License #2186175
(610) 622-7500
Source:
Cummingsrealtors
Added: Aug 24
Changed: Oct 21
Last Checked: Oct 20 at 10:17PM
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 RE/MAX Prime Real Estate
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Investment Insights
Based on property information with market context.
This two-story brick end-row duplex contains two separately metered living units with shared water service. The first-floor residence includes 1-2 bedrooms, in-unit laundry, a renovated kitchen and bathroom, vinyl flooring, and access to the full basement. The second-floor unit has 2 bedrooms, 1 full bathroom, vinyl flooring, an exposed brick accent wall, updated kitchen and bathroom finishes, and its own laundry. The basement is reached through the first-floor unit and provides storage and utility access.
Built in 1923, the property is located on a residential street in the Point Breeze section of South Philadelphia. Shopping, dining, public transportation, and major commuter routes are identified nearby. Separate utilities and two distinct living spaces support multifamily ownership or an owner-occupant arrangement with rental income potential.
Built in 1923, the property is located on a residential street in the Point Breeze section of South Philadelphia. Shopping, dining, public transportation, and major commuter routes are identified nearby. Separate utilities and two distinct living spaces support multifamily ownership or an owner-occupant arrangement with rental income potential.
Key Highlights
- Two separately metered living units with shared water service
- First‑floor unit includes 1‑2 bedrooms and direct access to the full basement
- Second‑floor unit offers 2 bedrooms and 1 full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,734
Cap Rate
7.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$514,680
$514.7K
Cap Rate 7%
$367,629
$367.6K
Cap Rate 9%
$285,933
$285.9K
Market Conditions
NOI Build-Up for 1,508 SF
Gross rent
$38.9K $25.80/SF
− Vacancy
−$2.1K −$1.42/SF
EGI
$36.8K $24.38/SF
− OpEx
−$11.0K −$7.31/SF
NOI
$25.7K $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 Rate 5%
$514,680
Cap Rate 7%
$367,629
Cap Rate 9%
$285,933
Alternative Uses
Best Use
Multifamily LT 5
$367.6K
$321.7K – $428.9K
NOI $25,734 @ 7.0% cap · market cap 7.92%
Second Best
Apartment 5plus
$338.9K
$296.5K – $395.3K
NOI $23,720 @ 7.0% cap · market cap 7.30%
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
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,586
Businesses Nearby
Explore this area
Business Placement
Demographics for 19146, PA
41,920
Population
22,182
Households
1.9
Avg Household Size
34
Median Age
65%
College-Educated
94%
High-School Grad
1.7 sq mi
ZIP Area
24,659
Density / Sq Mi
$99,702
Median Household Income
$68,849
Median Earnings
$1,708
Median Rent
$452,200
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 separately metered units offer updated kitchens and bathrooms, in-unit laundry, and basement storage access.
Where is this duplex located?
The property is located at 2050 REED STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two separately metered living units with shared water service; First‑floor unit includes 1‑2 bedrooms and direct access to the full basement; Second‑floor unit offers 2 bedrooms and 1 full bathroom
