Updated Duplex with Full
For Sale
Under Contract
$325,000
2050 REED Street, Philadelphia, PA 19146
Multi-Family, PHILADELPHIA, PA
Property Size1,508 SF
Lot Size0.02 Acres
Price / SF$215.52
Days on Market61
Property Features for 2050 REED Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
On Street
Appliances
Built-In Microwave, Oven - Single, Refrigerator, Stainless Steel Appliances
Subdivision
POINT BREEZE
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Special listing conditions
In Foreclosure
Standard status
Active Under Contract
Size
1,508 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
5018
Utilities
Heating system
Forced Air, Central
Amenities
in-unit laundry
Building Details
Year built
1923
Number of units
2
Building materials
Masonry
Architectural style
Contemporary
Listing Agency:
RE/MAX Prime Real Estate · RE/MAX International
Listed By:
Jaimee A. Cohen · License #RM424669
(610) 622-7500
Added: Aug 24
Changed: Oct 21
Last Checked: Oct 23 at 4:06AM
MLS# PAPH2663358
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.
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Investment Insights
Based on property information with market context.
This 1,508-square-foot, two-story brick duplex has end-row construction and a full basement reached through the first-floor apartment. That unit offers one to two bedrooms, laundry, and an updated kitchen and bathroom. The upper apartment has two bedrooms, one full bathroom, its own laundry, and renovated kitchen and bath finishes. Both units have vinyl flooring; the upper unit also features an exposed brick accent wall. Water service is shared, while the apartments are separately metered.
Built in 1923 on a 0.022-acre lot, the property is on Reed Street in Philadelphia’s Point Breeze section. Shopping, dining, public transportation, and major commuter routes are cited nearby. Parking is on street.
Built in 1923 on a 0.022-acre lot, the property is on Reed Street in Philadelphia’s Point Breeze section. Shopping, dining, public transportation, and major commuter routes are cited nearby. Parking is on street.
Key Highlights
- Two separately metered apartments with shared water service
- 1,508 square feet across two stories; built in 1923
- First‑floor unit has 1‑2 bedrooms and direct access to the full basement
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
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 apartments include in-unit laundry, updated kitchens and bathrooms, and shared water service.
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 apartments with shared water service; 1,508 square feet across two stories; built in 1923; First‑floor unit has 1‑2 bedrooms and direct access to the full basement
