Duplex-Style Home with Walkout
For Sale
$215,000
2094 CARVER STREET, Philadelphia, PA 19124
Philadelphia home with separate lower-level living space, kitchen, bedroom, and bath for extended-family use.
Property Size1,446 SF
Days on Market20
Property Features for 2094 CARVER STREET
General Information
Standard status
Active
Size
1,446 SF
Property subtype
Duplex
Additional Details
Gross Income
$12,000
Taxes and HOA fees
Annual Taxes
$2,003
Building Details
Building Size
1,446 SF
Year Built
1930
Listing Agency:
Keller Williams Real Estate Tri-County
Listed By:
Vu Le · License #RS347215
(267) 528-8960
Source:
Mainlinekw
Added: Aug 17
Changed: Sep 3
Last Checked: Sep 5 at 6:11AM
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 Keller Williams Real Estate Tri-County
Investment Insights
Based on property information with market context.
Built in 1930, this Philadelphia property combines a two-bedroom, one-bathroom main level with a finished walkout basement configured with a bedroom, full bathroom, kitchen, and separate living area. The lower level is currently occupied by a family member and provides additional household space within the home.
The property sits one block from ShopRite and Wawa, placing everyday shopping, food, and necessities nearby. The finished basement is not included in the listed square footage. The home is not approved or zoned as a legal two-unit property, and no City variance has been obtained; buyers must verify zoning, permitted use, rental eligibility, and any required approvals.
The property sits one block from ShopRite and Wawa, placing everyday shopping, food, and necessities nearby. The finished basement is not included in the listed square footage. The home is not approved or zoned as a legal two-unit property, and no City variance has been obtained; buyers must verify zoning, permitted use, rental eligibility, and any required approvals.
Key Highlights
- Finished walkout basement with bedroom, full bathroom, kitchen, and separate living area
- Main level includes 2 bedrooms and 1 full bathroom
- Built in 1930
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
$18,633
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
8.67%
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%
$372,660
$372.7K
Cap Rate 7%
$266,186
$266.2K
Cap Rate 9%
$207,033
$207.0K
Market Conditions
NOI Build-Up for 1,446 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
$28.6K $19.80/SF
− Vacancy
−$2.0K −$1.39/SF
EGI
$26.6K $18.41/SF
− OpEx
−$8.0K −$5.52/SF
NOI
$18.6K $12.89/SF
Area
ZIP 19124
Vacancy
7.03%
Lease Rate
$19.80 /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%
$372,660
Cap Rate 7%
$266,186
Cap Rate 9%
$207,033
Alternative Uses
Best Use
Multifamily LT 5
$266.2K
$232.9K – $310.6K
NOI $18,633 @ 7.0% cap · market cap 8.67%
Second Best
Apartment 5plus
$244.9K
$214.3K – $285.8K
NOI $17,145 @ 7.0% cap · market cap 7.97%
Theoretical Best
Specialty Retail
$831.8K
$727.8K – $970.4K
NOI $58,223 @ 7.0% cap · market cap 27.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
951
Businesses Nearby
Explore this area
Business Placement
Demographics for 19124, PA
68,766
Population
27,014
Households
2.5
Avg Household Size
33
Median Age
15%
College-Educated
80%
High-School Grad
5.1 sq mi
ZIP Area
13,484
Density / Sq Mi
$46,100
Median Household Income
$35,364
Median Earnings
$1,063
Median Rent
$155,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Philadelphia home with separate lower-level living space, kitchen, bedroom, and bath for extended-family use.
Where is this duplex located?
The property is located at 2094 CARVER STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Finished walkout basement with bedroom, full bathroom, kitchen, and separate living area; Main level includes 2 bedrooms and 1 full bathroom; Built in 1930
