Bi-Level Residential Income
For Sale
$465,000
Pending
2131 E FIRTH STREET Unit 4, Philadelphia, PA 19125
Updated condominium with private outdoor space, two bedroom suites, and low-maintenance modern amenities.
Property Size1,681 SF
Days on Market32
Property Features for 2131 E FIRTH STREET Unit 4
General Information
Standard status
Pending
Size
1,681 SF
Property subtype
Penthouse Unit/Flat/Apartment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/2.5BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$6,619
Amenities
private entrance
private tiered patio
in-unit laundry
central air conditioning
tankless water heater
ceiling fans
Building Details
Building Size
1,681 SF
Year Built
2016
Listing Agency:
Keller Williams Main Line
Listed By:
Samuel A Franklin · License #RS310213
(215) 313-1772
Source:
Lizclarkrealestate
Added: Aug 9
Changed: Sep 8
Last Checked: Sep 8 at 12:25PM
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 Main Line
Investment Insights
Based on property information with market context.
This bi-level residential income property is a condominium completed in 2016, with a private entrance and a 20-foot-wide configuration. The main level combines bamboo flooring with an open kitchen and living area. Kitchen features include a seating island, quartz work surfaces, maple cabinetry, glass tile backsplash, and stainless steel appliances. A powder room and coat storage are also located on this floor. The lower level contains two bedroom suites, each with its own bathroom and closet space.
A tiered private patio provides separate areas for dining, gardening, entertaining, or outdoor use. Additional features include in-unit laundry, central air conditioning, a tankless water heater, ceiling fans, and oversized windows. The property is on a residential block near Frankford Avenue, with access to parks, restaurants, cafes, breweries, public transportation, and major highways.
A tiered private patio provides separate areas for dining, gardening, entertaining, or outdoor use. Additional features include in-unit laundry, central air conditioning, a tankless water heater, ceiling fans, and oversized windows. The property is on a residential block near Frankford Avenue, with access to parks, restaurants, cafes, breweries, public transportation, and major highways.
Key Highlights
- 2016‑built bi‑level condominium with a 20‑foot‑wide configuration
- Two bedroom suites, each with a private en suite bathroom
- Private tiered patio with areas for dining, gardening, and entertaining
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
$26,441
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
5.69%
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%
$528,820
$528.8K
Cap Rate 7%
$377,729
$377.7K
Cap Rate 9%
$293,789
$293.8K
Market Conditions
NOI Build-Up for 1,681 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
$51.0K $30.36/SF
− Vacancy
−$3.0K −$1.76/SF
EGI
$48.1K $28.60/SF
− OpEx
−$21.6K −$12.87/SF
NOI
$26.4K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$528,820
Cap Rate 7%
$377,729
Cap Rate 9%
$293,789
Alternative Uses
Best Use
Apartment 5plus
$377.7K
$330.5K – $440.7K
NOI $26,441 @ 7.0% cap · market cap 5.69%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$409.8K
$358.6K – $478.1K
NOI $28,686 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,527
Businesses Nearby
Explore this area
Business Placement
Demographics for 19125, PA
25,325
Population
13,055
Households
1.9
Avg Household Size
34
Median Age
64%
College-Educated
94%
High-School Grad
1.4 sq mi
ZIP Area
18,089
Density / Sq Mi
$110,842
Median Household Income
$62,656
Median Earnings
$1,743
Median Rent
$373,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated condominium with private outdoor space, two bedroom suites, and low-maintenance modern amenities.
Where is this residential income property located?
The property is located at 2131 E FIRTH STREET Unit 4 Philadelphia, PA.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: 2016‑built bi‑level condominium with a 20‑foot‑wide configuration; Two bedroom suites, each with a private en suite bathroom; Private tiered patio with areas for dining, gardening, and entertaining
