Duplex with Private Rooftop
New
For Sale
$650,000
2122 N 2ND ST, Philadelphia, PA 19122
Vacant delivery includes two separate residences, one with a backyard and the other with private rooftop access.
Property Size3,400 SF
Price / SF$191.18
Days on Market5
Property Features for 2122 N 2ND ST
General Information
Standard status
Active
Size
3,400 SF
Property subtype
Multi-family
Zoning
CMX2
Units
Unit Mix
1 x 3BR/3BA, 1 x 2BR/2.5BA
Multifamily Units
2
Building Details
Year Built
2020
Buildings
1
Construction
brick
Listing Agency:
Realty Mark Associates
(215) 376-4444
Listed By:
Tiffany V Tran · License #RS358051
(856) 803-3482
Source:
Hostetterrealty
Added: Oct 5
Changed: Oct 7
Last Checked: Oct 7 at 12:12PM
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 Realty Mark Associates
Investment Insights
Based on property information with market context.
Built in 2020, this brick duplex at 2122 N 2nd St in Philadelphia contains two residences with separate layouts. The first has 3 bedrooms, 3 full bathrooms, two levels, a finished basement, and a private backyard. The upper residence spans the third and fourth floors and includes 2 bedrooms, 2 full bathrooms, a half bath, and private rooftop access. Both kitchens have stainless steel appliances, and the building features forced-air heating, central air conditioning, an electric heat pump backup, and a sump pump. Delivery is vacant; there is no HOA, and parking is on-street.
The property is in Norris Square, two minutes from the park and within walking distance of Girard Avenue and Fishtown bars, restaurants, and coffee shops. CMX2 zoning is in place. Assumable FHA financing at 2.75% is subject to lender approval.
The property is in Norris Square, two minutes from the park and within walking distance of Girard Avenue and Fishtown bars, restaurants, and coffee shops. CMX2 zoning is in place. Assumable FHA financing at 2.75% is subject to lender approval.
Key Highlights
- Built in 2020; brick duplex with 2,800 square feet stated in the remarks
- First residence: 3 bedrooms, 3 full bathrooms, two levels, finished basement, and private backyard
- Second residence: 2 bedrooms, 2 full bathrooms, half bath, and private rooftop access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,021
Cap Rate
8.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,160,420
$1.2M
Cap Rate 7%
$828,871
$828.9K
Cap Rate 9%
$644,678
$644.7K
Market Conditions
NOI Build-Up for 3,400 SF
Gross rent
$87.7K $25.80/SF
− Vacancy
−$4.8K −$1.42/SF
EGI
$82.9K $24.38/SF
− OpEx
−$24.9K −$7.31/SF
NOI
$58.0K $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%
$1,160,420
Cap Rate 7%
$828,871
Cap Rate 9%
$644,678
Alternative Uses
Best Use
Multifamily LT 5
$828.9K
$725.3K – $967.0K
NOI $58,021 @ 7.0% cap · market cap 8.93%
Second Best
Apartment 5plus
$764.0K
$668.5K – $891.3K
NOI $53,480 @ 7.0% cap · market cap 8.23%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,862
Businesses Nearby
Explore this area
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
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Frequently Asked Questions
What type of property is this?
Duplex - Vacant delivery includes two separate residences, one with a backyard and the other with private rooftop access.
Where is this duplex located?
The property is located at 2122 N 2ND ST Philadelphia, PA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Built in 2020; brick duplex with 2,800 square feet stated in the remarks; First residence: 3 bedrooms, 3 full bathrooms, two levels, finished basement, and private backyard; Second residence: 2 bedrooms, 2 full bathrooms, half bath, and private rooftop access
