Two-Bedroom Residential Income
New
For Sale
$249,900
2131 WELSH ROAD #102, Philadelphia, PA 19115
First-floor condominium residence with flexible office space, private balcony, assigned parking, storage, and community pool access.
Property Size1,388 SF
Days on Market5
Property Features for 2131 WELSH ROAD #102
General Information
Standard status
Active
Size
1,388 SF
Property subtype
Apartment
Building Details
Building Size
1,388 SF
Year Built
1983
Listing Agency:
Elite Realty Group Unl. Inc.
Listed By:
Alexander Molinski · License #RS293352
(215) 328-4800
Source:
Tmft.kw
Added: Sep 5
Changed: Sep 7
Last Checked: Sep 9 at 5:15AM
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 Elite Realty Group Unl. Inc.
Investment Insights
Based on property information with market context.
Unit 102 is a first-floor, two-bedroom, two-bath condominium residence in a building constructed in 1983. The interior includes an entry foyer with coat storage, a dedicated laundry room with washer and dryer, and a den or office that can function as a second bedroom. An open kitchen is equipped with a range/oven, refrigerator, and microwave and connects to a large living area. Sliding doors open to a balcony with an additional closet. The primary suite includes extensive closet space and a bathroom with a walk-in shower.
The property includes parking space #2 on the right-hand side of the building and ground-floor storage unit #2. Residents also have access to the community pool, with these features covered by the condominium fee. The location provides access to Roosevelt Boulevard, I-95, and the PA Turnpike, with shops, restaurants, and public transportation near Tremont and Northeast Plazas.
The property includes parking space #2 on the right-hand side of the building and ground-floor storage unit #2. Residents also have access to the community pool, with these features covered by the condominium fee. The location provides access to Roosevelt Boulevard, I-95, and the PA Turnpike, with shops, restaurants, and public transportation near Tremont and Northeast Plazas.
Key Highlights
- First‑floor Unit 102 with 2 BD and 2 BA
- Den or office offers flexible second‑bedroom use
- Kitchen includes range/oven, refrigerator, and microwave
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
$21,833
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
8.74%
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%
$436,660
$436.7K
Cap Rate 7%
$311,900
$311.9K
Cap Rate 9%
$242,589
$242.6K
Market Conditions
NOI Build-Up for 1,388 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
$42.1K $30.36/SF
− Vacancy
−$2.4K −$1.76/SF
EGI
$39.7K $28.60/SF
− OpEx
−$17.9K −$12.87/SF
NOI
$21.8K $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%
$436,660
Cap Rate 7%
$311,900
Cap Rate 9%
$242,589
Alternative Uses
Best Use
Apartment 5plus
$311.9K
$272.9K – $363.9K
NOI $21,833 @ 7.0% cap · market cap 8.74%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$338.4K
$296.1K – $394.8K
NOI $23,686 @ 7.0% cap · market cap 9.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,486
Businesses Nearby
Explore this area
Business Placement
Demographics for 19115, PA
35,919
Population
15,071
Households
2.4
Avg Household Size
44
Median Age
37%
College-Educated
92%
High-School Grad
5.2 sq mi
ZIP Area
6,908
Density / Sq Mi
$70,388
Median Household Income
$48,949
Median Earnings
$1,230
Median Rent
$330,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - First-floor condominium residence with flexible office space, private balcony, assigned parking, storage, and community pool access.
Where is this residential income property located?
The property is located at 2131 WELSH ROAD #102 Philadelphia, PA.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: First‑floor Unit 102 with 2 BD and 2 BA; Den or office offers flexible second‑bedroom use; Kitchen includes range/oven, refrigerator, and microwave
