One-Bedroom Residential Income
For Sale
$190,000
2101 CHESTNUT STREET Unit 417, Philadelphia, PA 19103
Tenant-occupied condominium residence with updated finishes and access to professionally managed building amenities.
Property Size658 SF
Price / SF$288.75
Days on Market63
Property Features for 2101 CHESTNUT STREET Unit 417
General Information
Standard status
Active
Size
658 SF
Property subtype
Unit/Flat/Apartment
Occupancy
100%
Units
Unit Mix
1 x 1BR
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,754
Amenities
24-hour lobby attendant
secure entry
fitness center
resident lounge
business center with high-speed internet
on-site laundry
Building Details
Building Size
658 SF
Year Built
1900
Tenancy
Single
Listing Agency:
Realty Mark Cityscape-King of Prussia
Listed By:
Xianming Sang · License #RS379652
(484) 238-0878
Source:
Patmckennarealtors
Added: Jul 15
Changed: Sep 11
Last Checked: Sep 14 at 9:10AM
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 Realty Mark Cityscape-King of Prussia
Investment Insights
Based on property information with market context.
This tenant-occupied residential income property is a one-bedroom condominium residence with 658 square feet of living area. The unit has been freshly painted and includes updated lighting, a new dishwasher, gas range, range hood, and bathroom improvements including a new vanity and toilet. The property was built in 1900.
Located at 2101 Chestnut Street in Philadelphia, the residence is within access of Trader Joe’s, the Schuylkill River Trail, 30th Street Station, CHOP, the Benjamin Franklin Parkway, and Rittenhouse Square restaurants, shopping, and cultural attractions. Penn and Drexel shuttle routes are also nearby. RiverWest is professionally managed and offers a 24-hour lobby attendant, secure entry, fitness center, resident lounge, business center with high-speed internet, and on-site laundry. The building is pet-friendly, and parking may be available in the attached garage for an additional fee.
Located at 2101 Chestnut Street in Philadelphia, the residence is within access of Trader Joe’s, the Schuylkill River Trail, 30th Street Station, CHOP, the Benjamin Franklin Parkway, and Rittenhouse Square restaurants, shopping, and cultural attractions. Penn and Drexel shuttle routes are also nearby. RiverWest is professionally managed and offers a 24-hour lobby attendant, secure entry, fitness center, resident lounge, business center with high-speed internet, and on-site laundry. The building is pet-friendly, and parking may be available in the attached garage for an additional fee.
Key Highlights
- 658‑square‑foot one‑bedroom condominium residence
- Currently tenant‑occupied
- Fresh interior paint with updated lighting
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
$10,350
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
5.45%
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%
$207,000
$207.0K
Cap Rate 7%
$147,857
$147.9K
Cap Rate 9%
$115,000
$115.0K
Market Conditions
NOI Build-Up for 658 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
$20.0K $30.36/SF
− Vacancy
−$1.2K −$1.76/SF
EGI
$18.8K $28.60/SF
− OpEx
−$8.5K −$12.87/SF
NOI
$10.4K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$207,000
Cap Rate 7%
$147,857
Cap Rate 9%
$115,000
Alternative Uses
Best Use
Apartment 5plus
$147.9K
$129.4K – $172.5K
NOI $10,350 @ 7.0% cap · market cap 5.45%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$160.4K
$140.4K – $187.2K
NOI $11,229 @ 7.0% cap · market cap 5.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
16,107
Businesses Nearby
Explore this area
Business Placement
Demographics for 19103, PA
28,717
Population
20,064
Households
1.4
Avg Household Size
36
Median Age
81%
College-Educated
98%
High-School Grad
0.6 sq mi
ZIP Area
47,862
Density / Sq Mi
$97,940
Median Household Income
$76,680
Median Earnings
$1,955
Median Rent
$551,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Tenant-occupied condominium residence with updated finishes and access to professionally managed building amenities.
Where is this residential income property located?
The property is located at 2101 CHESTNUT STREET Unit 417 Philadelphia, PA.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: 658‑square‑foot one‑bedroom condominium residence; Currently tenant‑occupied; Fresh interior paint with updated lighting
