Updated Two-Unit
For Sale
$540,000
2108 N 17TH ST, Philadelphia, PA 19121
Three-story property with two bi-level residences, modern kitchens, and washer-dryer packages in each unit.
Property Size2,567 SF
Price / SF$210.36
Days on Market29
Property Features for 2108 N 17TH ST
General Information
Standard status
Active
Size
2,567 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 5BR/3BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$1,747
Amenities
washer/dryer
Building Details
Buildings
1
Stories
3
Listing Agency:
Philly LMG, LLC
(215) 545-7007
Listed By:
Sabina Palermo · License #RS345386
(215) 821-5527
Source:
Opal-realestate
Added: Aug 7
Changed: Aug 28
Last Checked: Sep 2 at 3:35PM
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 Philly LMG, LLC
Investment Insights
Based on property information with market context.
Built in 2013, this three-story duplex contains two bi-level residences, each with five bedrooms and three bathrooms. Both units feature kitchens with stone countertops and stainless-steel appliances, along with washer-dryer packages. One residence also includes a backyard. Both units are currently rented, providing established occupancy for a residential income property.
The property is located near Temple University Campus, with shops and restaurants along North Broad Street. Center City Philadelphia is accessible from the location. The roof was replaced in May 2025 and carries a 10-year warranty; stucco repairs completed at the same time include an 8-year warranty.
The property is located near Temple University Campus, with shops and restaurants along North Broad Street. Center City Philadelphia is accessible from the location. The roof was replaced in May 2025 and carries a 10-year warranty; stucco repairs completed at the same time include an 8-year warranty.
Key Highlights
- Two bi‑level units, each with 5 bedrooms and 3 bathrooms
- 2,567 square feet; built in 2013
- Modern kitchens with stone countertops and stainless‑steel appliances
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
$43,806
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
8.11%
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%
$876,120
$876.1K
Cap Rate 7%
$625,800
$625.8K
Cap Rate 9%
$486,733
$486.7K
Market Conditions
NOI Build-Up for 2,567 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
$66.2K $25.80/SF
− Vacancy
−$3.6K −$1.42/SF
EGI
$62.6K $24.38/SF
− OpEx
−$18.8K −$7.31/SF
NOI
$43.8K $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 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%
$876,120
Cap Rate 7%
$625,800
Cap Rate 9%
$486,733
Alternative Uses
Best Use
Multifamily LT 5
$625.8K
$547.6K – $730.1K
NOI $43,806 @ 7.0% cap · market cap 8.11%
Second Best
Apartment 5plus
$576.8K
$504.7K – $673.0K
NOI $40,378 @ 7.0% cap · market cap 7.48%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,570
Businesses Nearby
Explore this area
Business Placement
Demographics for 19121, PA
41,799
Population
19,673
Households
2.1
Avg Household Size
28
Median Age
25%
College-Educated
84%
High-School Grad
2.4 sq mi
ZIP Area
17,416
Density / Sq Mi
$36,208
Median Household Income
$29,915
Median Earnings
$1,082
Median Rent
$250,100
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 - Three-story property with two bi-level residences, modern kitchens, and washer-dryer packages in each unit.
Where is this duplex located?
The property is located at 2108 N 17TH ST Philadelphia, PA.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: Two bi‑level units, each with 5 bedrooms and 3 bathrooms; 2,567 square feet; built in 2013; Modern kitchens with stone countertops and stainless‑steel appliances
