Renovated Duplex Near Temple
For Sale
$445,000
Pending
2116 North 17th Street, Philadelphia, PA 19121
Two units provide flexible bedroom layouts, private backyard access, and separate laundry areas for residential income use.
Property Size2,139 SF
Days on Market173
Property Features for 2116 North 17th Street
General Information
Standard status
Pending
Size
2,139 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RM1
Units
Unit Mix
1 x 3BR/1BA, 1 x 5-6BR/2BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$6,194
Amenities
private backyard
laundry room
No
Basement
Window Grills
No Pool
Building Details
Year Built
1915
Buildings
1
Listing Agency:
Keller Williams Philadelphia
(410) 215-2240
Listed By:
Dan Deckelbaum · License #RS-319781
(410) 215-2240
Source:
Compass
Added: Mar 13
Changed: Aug 31
Last Checked: Aug 30 at 11:19PM
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 Keller Williams Philadelphia
Investment Insights
Based on property information with market context.
This renovated duplex at 2116 North 17th Street includes two distinct units with a combined 8–9 bedrooms and three bathrooms. The first unit has three bedrooms, one bathroom, a private backyard, and dedicated laundry space. The second unit spans two levels with five to six bedrooms, two bathrooms, and its own laundry room. Both units feature updated kitchens with stainless steel appliances, modern bathrooms, refinished floors, and matching grid windows.
Major building improvements include a new roof, front and side stucco, HVAC equipment, and ductwork. The property is zoned RM1 and was built in 1915. Its Philadelphia location is near Temple University, the Broad Street Line, coffee shops, casual dining, grocery stores, and convenience markets, with transit connections to Center City and North Philadelphia.
The configuration supports separate residential units and includes private outdoor space, multiple laundry areas, and updated interior finishes throughout.
Major building improvements include a new roof, front and side stucco, HVAC equipment, and ductwork. The property is zoned RM1 and was built in 1915. Its Philadelphia location is near Temple University, the Broad Street Line, coffee shops, casual dining, grocery stores, and convenience markets, with transit connections to Center City and North Philadelphia.
The configuration supports separate residential units and includes private outdoor space, multiple laundry areas, and updated interior finishes throughout.
Key Highlights
- Two‑unit duplex with a combined 8–9 bedrooms and three bathrooms
- Renovated kitchens, bathrooms, refinished floors, stainless steel appliances, and grid windows
- Unit 1 includes a private backyard and dedicated laundry room
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
2
Residential units
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 - Two units provide flexible bedroom layouts, private backyard access, and separate laundry areas for residential income use.
Where is this duplex located?
The property is located at 2116 North 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 with a combined 8–9 bedrooms and three bathrooms; Renovated kitchens, bathrooms, refinished floors, stainless steel appliances, and grid windows; Unit 1 includes a private backyard and dedicated laundry room
