Renovated
For Sale
$549,000
2116 N FRANKLIN STREET, Philadelphia, PA 19122
The two-unit layout includes a one-bedroom first-floor apartment and a larger residence spanning the upper levels.
Property Size1,500 SF
Days on Market15
Property Features for 2116 N FRANKLIN STREET
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Duplex
Site & Location
Neighborhood
North Philadelphia
Units
Unit Mix
1 x 1BR, 1 x 3BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,213
Building Details
Building Size
1,500 SF
Year Built
1960
Buildings
1
Listing Agency:
RE/MAX Ready
Listed By:
Daniel Shaifer
(443) 895-0824
Source:
Lizclarkrealestate
Added: Oct 9
Changed: Oct 21
Last Checked: Oct 23 at 4:05PM
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 RE/MAX Ready
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Investment Insights
Based on property information with market context.
Built in 1960, this duplex contains two separate residences. The first-floor unit has one bedroom, a full bathroom, an open living area, and an in-unit washer and dryer. The second residence occupies the second and third floors, with a kitchen, living area, bedroom, and full bathroom on its main level, plus two bedrooms upstairs. The property has been renovated, with updated fixtures and finishes noted in the first-floor bathroom.
Key Highlights
- Two‑unit duplex built in 1960
- First‑floor residence offers one bedroom, a full bath, and in‑unit laundry
- Upper residence spans the second and third floors, with three bedrooms across two levels
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,597
Cap Rate
4.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$511,940
$511.9K
Cap Rate 7%
$365,671
$365.7K
Cap Rate 9%
$284,411
$284.4K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$38.7K $25.80/SF
− Vacancy
−$2.1K −$1.42/SF
EGI
$36.6K $24.38/SF
− OpEx
−$11.0K −$7.31/SF
NOI
$25.6K $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 Rate 5%
$511,940
Cap Rate 7%
$365,671
Cap Rate 9%
$284,411
Alternative Uses
Best Use
Multifamily LT 5
$365.7K
$320.0K – $426.6K
NOI $25,597 @ 7.0% cap · market cap 4.66%
Second Best
Apartment 5plus
$337.1K
$294.9K – $393.2K
NOI $23,594 @ 7.0% cap · market cap 4.30%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,207
Businesses Nearby
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Business Placement
Demographics for 19122, PA
26,668
Population
10,139
Households
2.6
Avg Household Size
28
Median Age
42%
College-Educated
86%
High-School Grad
1.3 sq mi
ZIP Area
20,514
Density / Sq Mi
$57,785
Median Household Income
$31,871
Median Earnings
$1,294
Median Rent
$341,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The two-unit layout includes a one-bedroom first-floor apartment and a larger residence spanning the upper levels.
Where is this duplex located?
The property is located at 2116 N FRANKLIN STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1960; First‑floor residence offers one bedroom, a full bath, and in‑unit laundry; Upper residence spans the second and third floors, with three bedrooms across two levels
