Duplex with Central
For Sale
Under Contract
$445,000
2116 N 17TH Street, Philadelphia, PA 19121
MULTI_FAMILY - Other - PHILADELPHIA, PA
Property Size2,139 SF
Lot Size0.03 Acres
Price / SF$208.04
Days on Market99
Property Features for 2116 N 17TH Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
On Street
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Standard status
Active Under Contract
Size
2,139 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
6194
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1915
Number of units
3
Building materials
Masonry
Architectural style
Other
Listing Agency:
JB Victor Realtors & Business Brokers
(215) 742-9800
Listed By:
James Victor · License #RM420036
(215) 742-9800
Added: May 6
Changed: Aug 1
Last Checked: Aug 12 at 12:06PM
MLS# PAPH2615012
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This masonry duplex offers two distinct living units within a three-level setup. The first-floor unit is a 3-bedroom, 1-bath configuration, while the 2nd and 3rd floors are combined into a larger 6-bedroom, 2-bath unit.
The property spans 0.0267 acres and includes 2,139 square feet. Heating is forced air and cooling is provided by central air. Parking is available via on-street spaces. The building was constructed in 1915.
Located at 2116 N 17TH Street in Philadelphia, the property is described as being situated near Temple University, supporting use for student housing. The room-by-room renting approach is referenced in the public remarks, along with the option to lease the upper floors as a single combined unit.
The property spans 0.0267 acres and includes 2,139 square feet. Heating is forced air and cooling is provided by central air. Parking is available via on-street spaces. The building was constructed in 1915.
Located at 2116 N 17TH Street in Philadelphia, the property is described as being situated near Temple University, supporting use for student housing. The room-by-room renting approach is referenced in the public remarks, along with the option to lease the upper floors as a single combined unit.
Key Highlights
- Two‑unit duplex: first‑floor 3‑bedroom, 1‑bath plus combined 6‑bedroom, 2‑bath upper unit
- 2,139 SF masonry duplex on 0.0267 acres
- Central air and forced‑air heating
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
$36,502
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
8.20%
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%
$730,040
$730.0K
Cap Rate 7%
$521,457
$521.5K
Cap Rate 9%
$405,578
$405.6K
Market Conditions
NOI Build-Up for 2,139 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
$55.2K $25.80/SF
− Vacancy
−$3.0K −$1.42/SF
EGI
$52.1K $24.38/SF
− OpEx
−$15.6K −$7.31/SF
NOI
$36.5K $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%
$730,040
Cap Rate 7%
$521,457
Cap Rate 9%
$405,578
Alternative Uses
Best Use
Multifamily LT 5
$521.5K
$456.3K – $608.4K
NOI $36,502 @ 7.0% cap · market cap 8.20%
Second Best
Apartment 5plus
$480.6K
$420.6K – $560.8K
NOI $33,645 @ 7.0% cap · market cap 7.56%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,049
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 - Masonry duplex built in 1915 with central air, forced-air heat, and on-street parking, featuring a 3-bedroom and combined 6-bedroom layout.
Where is this duplex located?
The property is located at 2116 N 17TH Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: Two‑unit duplex: first‑floor 3‑bedroom, 1‑bath plus combined 6‑bedroom, 2‑bath upper unit; 2,139 SF masonry duplex on 0.0267 acres; Central air and forced‑air heating
