Renovated Duplex With
For Sale
$339,900
2128 N 9TH STREET, Philadelphia, PA 19122
Two updated residences offer stainless-steel kitchens, central HVAC, and separate laundry access within a flexible duplex configuration.
Property Size1,760 SF
Days on Market61
Property Features for 2128 N 9TH STREET
General Information
Standard status
Active
Size
1,760 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$4,568
Building Details
Building Size
1,760 SF
Year Built
1920
Stories
3
Tenancy
Multi
Listing Agency:
Premium Realty Castor Inc
Listed By:
Derence Lam · License #RS350058
(267) 808-5052
Source:
Lizclarkrealestate
Added: Jul 24
Changed: Sep 17
Last Checked: Sep 21 at 6:49AM
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 Premium Realty Castor Inc
Investment Insights
Based on property information with market context.
Built in 1920 and recently renovated, this three-story duplex contains two distinct residences with contemporary interior features. The first-floor unit includes two bedrooms, an open kitchen with stainless-steel appliances, central HVAC, and basement access to a washer and dryer. Its primary bedroom opens directly to a rear patio. The second residence spans two levels and provides three bedrooms, two full bathrooms, stainless-steel appliances, central HVAC, and a private washer and dryer.
The property is within walking distance of Temple University and is located at 2128 N 9th Street in Philadelphia. Its two-unit layout supports owner occupancy with rental income from the other residence or use as a multifamily investment property. The building is monitored by 24/7 security camera surveillance.
The property is within walking distance of Temple University and is located at 2128 N 9th Street in Philadelphia. Its two-unit layout supports owner occupancy with rental income from the other residence or use as a multifamily investment property. The building is monitored by 24/7 security camera surveillance.
Key Highlights
- Two‑unit, three‑story duplex built in 1920
- First‑floor residence offers 2 bedrooms and direct primary‑bedroom access to a rear patio
- Second residence features a bi‑level layout with 3 bedrooms and 2 full bathrooms
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
$30,034
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
8.84%
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%
$600,680
$600.7K
Cap Rate 7%
$429,057
$429.1K
Cap Rate 9%
$333,711
$333.7K
Market Conditions
NOI Build-Up for 1,760 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
$45.4K $25.80/SF
− Vacancy
−$2.5K −$1.42/SF
EGI
$42.9K $24.38/SF
− OpEx
−$12.9K −$7.31/SF
NOI
$30.0K $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 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%
$600,680
Cap Rate 7%
$429,057
Cap Rate 9%
$333,711
Alternative Uses
Best Use
Multifamily LT 5
$429.1K
$375.4K – $500.6K
NOI $30,034 @ 7.0% cap · market cap 8.84%
Second Best
Apartment 5plus
$395.5K
$346.1K – $461.4K
NOI $27,684 @ 7.0% cap · market cap 8.14%
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
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,620
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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Cap Rate, Value Estimation, Potential NOI and more
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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 - Two updated residences offer stainless-steel kitchens, central HVAC, and separate laundry access within a flexible duplex configuration.
Where is this duplex located?
The property is located at 2128 N 9TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: Two‑unit, three‑story duplex built in 1920; First‑floor residence offers 2 bedrooms and direct primary‑bedroom access to a rear patio; Second residence features a bi‑level layout with 3 bedrooms and 2 full bathrooms
