Second-Floor Residential Income
For Sale
$259,000
211 ELBRIDGE STREET, Philadelphia, PA 19111
Second-floor unit on a quiet street in Northeast Philadelphia, positioned near shopping and public transit.
Property Size1,188 SF
Price / SF$218.01
Days on Market103
Property Features for 211 ELBRIDGE STREET
General Information
Standard status
Active
Size
1,188 SF
Property subtype
Apartment
Building Details
Year Built
1959
Listing Agency:
Appreciation Realty LLC
(610) 489-0198
Listed By:
Bei Y Chen
(267) 984-5688
Source:
Cummingsrealtors
Added: May 28
Changed: Sep 6
Last Checked: Sep 6 at 8:06AM
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 Appreciation Realty LLC
Investment Insights
Based on property information with market context.
This offering is a residential income property featuring a second-floor unit at 211 Elbridge Street in Philadelphia, PA. The unit is described as being situated “nestled” on an adorable, quiet street, providing a calm setting within a more suburban portion of Northeast Philadelphia.
The property is positioned in an area surrounded by shopping and public transit. This combination can support tenant convenience and day-to-day accessibility.
Beyond the second-floor layout and the property’s street setting, no additional interior or building specifics are provided in the available information.
The property is positioned in an area surrounded by shopping and public transit. This combination can support tenant convenience and day-to-day accessibility.
Beyond the second-floor layout and the property’s street setting, no additional interior or building specifics are provided in the available information.
Key Highlights
- Second‑floor unit in Northeast Philadelphia
- Located on a quiet street in Northeast Philly
- Year built: 1959
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
$14,709
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
5.68%
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%
$294,180
$294.2K
Cap Rate 7%
$210,129
$210.1K
Cap Rate 9%
$163,433
$163.4K
Market Conditions
NOI Build-Up for 1,188 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
$27.7K $23.28/SF
− Vacancy
−$913 −$0.77/SF
EGI
$26.7K $22.51/SF
− OpEx
−$12.0K −$10.13/SF
NOI
$14.7K $12.38/SF
Area
ZIP 19111
Vacancy
3.30%
Lease Rate
$23.28 /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%
$294,180
Cap Rate 7%
$210,129
Cap Rate 9%
$163,433
Alternative Uses
Best Use
Apartment 5plus
$210.1K
$183.9K – $245.2K
NOI $14,709 @ 7.0% cap · market cap 5.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$360.2K
$315.2K – $420.2K
NOI $25,213 @ 7.0% cap · market cap 9.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
716
Businesses Nearby
Explore this area
Business Placement
Demographics for 19111, PA
67,017
Population
27,518
Households
2.4
Avg Household Size
38
Median Age
25%
College-Educated
86%
High-School Grad
4.8 sq mi
ZIP Area
13,962
Density / Sq Mi
$60,441
Median Household Income
$39,065
Median Earnings
$1,221
Median Rent
$244,000
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?
Multifamily property - Second-floor unit on a quiet street in Northeast Philadelphia, positioned near shopping and public transit.
Where is this multifamily property located?
The property is located at 211 ELBRIDGE STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: Second‑floor unit in Northeast Philadelphia; Located on a quiet street in Northeast Philly; Year built: 1959
