Residential Income Property with Private
For Sale
$209,990
2102 CHRISTIAN STREET Unit C, Philadelphia, PA 19146
Third-floor one-bedroom condo with a pergola-covered outdoor deck and access to neighborhood shops, dining, parks, and Center City.
Property Size500 SF
Days on Market27
Property Features for 2102 CHRISTIAN STREET Unit C
General Information
Standard status
Active
Size
500 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,964
Amenities
private deck
Building Details
Building Size
500 SF
Year Built
1900
Listing Agency:
KW Empower
Listed By:
Derek Fulforth
(215) 407-1080
Source:
Patmckennarealtors
Added: Aug 13
Changed: Aug 28
Last Checked: Sep 7 at 9:50AM
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 KW Empower
Investment Insights
Based on property information with market context.
Located at 2102 Christian Street in Philadelphia, this third-floor condominium includes one bedroom, one full bathroom, and a practical interior arrangement. The bedroom is positioned toward the front of the residence, with the bathroom serving the main living area. Built in 1900, the unit also provides a 120-square-foot private deck with a pergola directly off the rear of the home.
The property is in Graduate Hospital, near coffee shops, restaurants, parks, and the broader Center City area. Its residential configuration and private outdoor area support use as a personal residence, city pied-a-terre, or income property.
The property is in Graduate Hospital, near coffee shops, restaurants, parks, and the broader Center City area. Its residential configuration and private outdoor area support use as a personal residence, city pied-a-terre, or income property.
Key Highlights
- 120 sq ft private deck with pergola
- Third‑floor condominium at 2102 Christian Street
- One bedroom and one full bathroom
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
$7,865
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
3.75%
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%
$157,300
$157.3K
Cap Rate 7%
$112,357
$112.4K
Cap Rate 9%
$87,389
$87.4K
Market Conditions
NOI Build-Up for 500 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
$15.2K $30.36/SF
− Vacancy
−$880 −$1.76/SF
EGI
$14.3K $28.60/SF
− OpEx
−$6.4K −$12.87/SF
NOI
$7.9K $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%
$157,300
Cap Rate 7%
$112,357
Cap Rate 9%
$87,389
Alternative Uses
Best Use
Apartment 5plus
$112.4K
$98.3K – $131.1K
NOI $7,865 @ 7.0% cap · market cap 3.75%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$121.9K
$106.7K – $142.2K
NOI $8,532 @ 7.0% cap · market cap 4.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,672
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Third-floor one-bedroom condo with a pergola-covered outdoor deck and access to neighborhood shops, dining, parks, and Center City.
Where is this residential income property located?
The property is located at 2102 CHRISTIAN STREET Unit C Philadelphia, PA.
What is the asking price?
The asking price for this property is $209,990.
What are key features of this property?
This property features: 120 sq ft private deck with pergola; Third‑floor condominium at 2102 Christian Street; One bedroom and one full bathroom
