Duplex Investment
New
For Sale
$375,000
2120 ORTHODOX STREET, Philadelphia, PA 19124
Two-unit configuration supports owner occupancy, rental use, or a combination of both.
Property Size2,318 SF
Price / SF$161.78
Days on Market7
Property Features for 2120 ORTHODOX STREET
General Information
Standard status
Active
Size
2,318 SF
Property subtype
Duplex
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Year Built
1940
Listing Agency:
KW Empower
(215) 627-3500
Listed By:
David Snyder · License #RS223144L
(215) 360-3236
Source:
Cummingsrealtors
Added: Sep 2
Changed: Sep 8
Last Checked: Sep 7 at 8:04AM
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 KW Empower
Investment Insights
Based on property information with market context.
Located at 2120-22 Orthodox Street in Philadelphia, this duplex contains two residential units and was built in 1940. The property has been maintained and offers a usable foundation without the need for a major renovation project.
The layout supports several ownership approaches, including occupying one unit while leasing the other or renting both units. Public transportation, major roadways, shopping, and dining are accessible from the property, with the address situated in Philadelphia, PA 19124.
The layout supports several ownership approaches, including occupying one unit while leasing the other or renting both units. Public transportation, major roadways, shopping, and dining are accessible from the property, with the address situated in Philadelphia, PA 19124.
Key Highlights
- Two‑unit duplex configuration
- Built in 1940
- Owner‑occupancy and rental‑use options
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
$29,869
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
7.97%
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%
$597,380
$597.4K
Cap Rate 7%
$426,700
$426.7K
Cap Rate 9%
$331,878
$331.9K
Market Conditions
NOI Build-Up for 2,318 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
$45.9K $19.80/SF
− Vacancy
−$3.2K −$1.39/SF
EGI
$42.7K $18.41/SF
− OpEx
−$12.8K −$5.52/SF
NOI
$29.9K $12.89/SF
Area
ZIP 19124
Vacancy
7.03%
Lease Rate
$19.80 /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%
$597,380
Cap Rate 7%
$426,700
Cap Rate 9%
$331,878
Alternative Uses
Best Use
Multifamily LT 5
$426.7K
$373.4K – $497.8K
NOI $29,869 @ 7.0% cap · market cap 7.97%
Second Best
Apartment 5plus
$392.6K
$343.5K – $458.1K
NOI $27,483 @ 7.0% cap · market cap 7.33%
Theoretical Best
Specialty Retail
$1.33M
$1.17M – $1.56M
NOI $93,334 @ 7.0% cap · market cap 24.89%
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
1,442
Businesses Nearby
Explore this area
Business Placement
Demographics for 19124, PA
68,766
Population
27,014
Households
2.5
Avg Household Size
33
Median Age
15%
College-Educated
80%
High-School Grad
5.1 sq mi
ZIP Area
13,484
Density / Sq Mi
$46,100
Median Household Income
$35,364
Median Earnings
$1,063
Median Rent
$155,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit configuration supports owner occupancy, rental use, or a combination of both.
Where is this duplex located?
The property is located at 2120 ORTHODOX STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two‑unit duplex configuration; Built in 1940; Owner‑occupancy and rental‑use options
