Two-Unit Duplex with Private
For Sale
$440,000
2119 S 13TH, Philadelphia, PA 19148
Well-maintained duplex with separate utilities, basement storage, laundry, and a rear yard.
Property Size1,560 SF
Days on Market18
Property Features for 2119 S 13TH
General Information
Standard status
Active
Size
1,560 SF
Property subtype
Duplex
Units
Unit Mix
1 x 1BR, 1 x 2BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$4,959
Building Details
Building Size
1,560 SF
Year Built
1911
Buildings
1
Listing Agency:
Elfant Wissahickon Realtors
Listed By:
Christian Fegel · License #RS338850
(484) 886-6337
Source:
Patmckennarealtors
Added: Aug 18
Changed: Sep 3
Last Checked: Sep 2 at 1:39AM
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 Elfant Wissahickon Realtors
Investment Insights
Based on property information with market context.
This 1911 duplex contains two separately metered residences with distinct layouts. The first-floor apartment offers one bedroom, a broad living and dining area, an efficient kitchen with a pass-through, in-unit laundry, and access to a rear grassy yard. Upstairs, the two-bedroom unit includes a bright eat-in kitchen, built-in oak wardrobe, private deck, and basement access for laundry and storage.
The property is located at 2119 S 13TH in Philadelphia, one block from the Broad Street subway and within walking distance of neighborhood shopping and eateries. Building improvements include a roof installed in 2018 and boilers replaced in 2020. One residence is vacant, while the second is leased through 9/1/2027.
The property is located at 2119 S 13TH in Philadelphia, one block from the Broad Street subway and within walking distance of neighborhood shopping and eateries. Building improvements include a roof installed in 2018 and boilers replaced in 2020. One residence is vacant, while the second is leased through 9/1/2027.
Key Highlights
- Two‑unit duplex with separate gas and electric meters
- First‑floor 1BR with in‑unit washer/dryer and rear grassy yard
- Second‑floor 2BR with eat‑in kitchen and private deck
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
$26,621
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
6.05%
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%
$532,420
$532.4K
Cap Rate 7%
$380,300
$380.3K
Cap Rate 9%
$295,789
$295.8K
Market Conditions
NOI Build-Up for 1,560 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
$40.2K $25.80/SF
− Vacancy
−$2.2K −$1.42/SF
EGI
$38.0K $24.38/SF
− OpEx
−$11.4K −$7.31/SF
NOI
$26.6K $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 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%
$532,420
Cap Rate 7%
$380,300
Cap Rate 9%
$295,789
Alternative Uses
Best Use
Multifamily LT 5
$380.3K
$332.8K – $443.7K
NOI $26,621 @ 7.0% cap · market cap 6.05%
Second Best
Apartment 5plus
$350.5K
$306.7K – $409.0K
NOI $24,538 @ 7.0% cap · market cap 5.58%
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
3,935
Businesses Nearby
Explore this area
Business Placement
Demographics for 19148, PA
53,976
Population
22,944
Households
2.4
Avg Household Size
36
Median Age
39%
College-Educated
85%
High-School Grad
4.2 sq mi
ZIP Area
12,851
Density / Sq Mi
$80,469
Median Household Income
$50,067
Median Earnings
$1,492
Median Rent
$296,800
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 - Well-maintained duplex with separate utilities, basement storage, laundry, and a rear yard.
Where is this duplex located?
The property is located at 2119 S 13TH Philadelphia, PA.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: Two‑unit duplex with separate gas and electric meters; First‑floor 1BR with in‑unit washer/dryer and rear grassy yard; Second‑floor 2BR with eat‑in kitchen and private deck
