Two-Bedroom Residential Income
New
For Sale
$400,000
2201 CHESTNUT STREET Unit 104, Philadelphia, PA 19103
Renovated residence with private entry, refined finishes, and in-unit laundry within a secure historic building.
Property Size898 SF
Days on Market6
Property Features for 2201 CHESTNUT STREET Unit 104
General Information
Standard status
Active
Size
898 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,979
Amenities
private entrance
in-unit washer/dryer
custom California Closets
secure building
package delivery
Building Details
Building Size
898 SF
Year Built
1900
Listing Agency:
Compass Pennsylvania, LLC
Listed By:
Janette Spirk · License #RS324145
(610) 762-3183
Source:
Patmckennarealtors
Added: Sep 16
Changed: Sep 18
Last Checked: Sep 21 at 7:15AM
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 Compass Pennsylvania, LLC
Investment Insights
Based on property information with market context.
This two-bedroom residence is located within The Coronado, a building completed in 1900. A private, secure entrance opens through a marble-finished vestibule to a bright interior with floor-to-ceiling windows, herringbone hardwood flooring, detailed moldings, and medallion ceiling accents. The living room provides room for distinct seating and dining areas.
The renovated kitchen includes wood cabinetry, stainless steel appliances, marble counters, and a subway tile backsplash. A recently completed bathroom adds marble wall tile, a marble-top vanity, a glass-enclosed walk-in shower, and Kohler brass fixtures. Custom California Closets, recessed lighting, and an in-unit washer and dryer add functional detail. The secure building provides package delivery through the lobby and is near Rittenhouse and Fitler Squares, Trader Joe’s, restaurants, retailers, and 30th Street Station.
The renovated kitchen includes wood cabinetry, stainless steel appliances, marble counters, and a subway tile backsplash. A recently completed bathroom adds marble wall tile, a marble-top vanity, a glass-enclosed walk-in shower, and Kohler brass fixtures. Custom California Closets, recessed lighting, and an in-unit washer and dryer add functional detail. The secure building provides package delivery through the lobby and is near Rittenhouse and Fitler Squares, Trader Joe’s, restaurants, retailers, and 30th Street Station.
Key Highlights
- Two‑bedroom residence in The Coronado, built in 1900
- Private secure entrance through a marble‑finished vestibule
- Renovated kitchen with stainless steel appliances and marble countertops
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
$14,125
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
3.53%
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%
$282,500
$282.5K
Cap Rate 7%
$201,786
$201.8K
Cap Rate 9%
$156,944
$156.9K
Market Conditions
NOI Build-Up for 898 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
$27.3K $30.36/SF
− Vacancy
−$1.6K −$1.76/SF
EGI
$25.7K $28.60/SF
− OpEx
−$11.6K −$12.87/SF
NOI
$14.1K $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%
$282,500
Cap Rate 7%
$201,786
Cap Rate 9%
$156,944
Alternative Uses
Best Use
Apartment 5plus
$201.8K
$176.6K – $235.4K
NOI $14,125 @ 7.0% cap · market cap 3.53%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$218.9K
$191.6K – $255.4K
NOI $15,324 @ 7.0% cap · market cap 3.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
16,107
Businesses Nearby
Explore this area
Business Placement
Demographics for 19103, PA
28,717
Population
20,064
Households
1.4
Avg Household Size
36
Median Age
81%
College-Educated
98%
High-School Grad
0.6 sq mi
ZIP Area
47,862
Density / Sq Mi
$97,940
Median Household Income
$76,680
Median Earnings
$1,955
Median Rent
$551,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Renovated residence with private entry, refined finishes, and in-unit laundry within a secure historic building.
Where is this residential income property located?
The property is located at 2201 CHESTNUT STREET Unit 104 Philadelphia, PA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Two‑bedroom residence in The Coronado, built in 1900; Private secure entrance through a marble‑finished vestibule; Renovated kitchen with stainless steel appliances and marble countertops
