Residential Income Property with
For Sale
$499,900
Pending
2201 Somerset St, Philadelphia, PA 19134
Upper-level residence with an open layout, private balcony, central air, and in-unit laundry.
Property Size1,390 SF
Days on Market989
Property Features for 2201 Somerset St
General Information
Standard status
Pending
Size
1,390 SF
Property subtype
Triplex
Units
Unit Mix
1 x 3BR/2.5BA
Multifamily Units
1
Amenities
in-unit washer and dryer
kitchen appliances
rooftop area
Central Air
Unfinished Basement
3
Dishwasher, Washer, Single Oven, Freezer, Dryer, Microwave, Range Hood
Built-Ins, Built-Ins, Unfurnished, Wood Floors, Recessed Lights, Breakfast Area, Open Floor Plan
Pool
Balcony
RES
Parking. Attached Parking. Spa.
1 Garage Spaces. Attached Garage, No Parking, On Street.
Aluminum
No Pool
Exterior Lighting.
Building Details
Year Built
2023
Stories
2
Listing Agency:
KW Empower
(215) 627-3500
Listed By:
Joanna Kaniewska
(267) 397-6019
Source:
Xome
Added: Dec 25, 2023
Changed: Sep 2
Last Checked: Sep 9 at 7:08AM
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 KW Empower
Investment Insights
Based on property information with market context.
This upper-level residential income property offers 1,390 square feet with three bedrooms and two-and-a-half bathrooms. The interior includes an open floor plan, wood flooring, recessed lighting, built-ins, a breakfast area, and central air. An unfinished basement provides additional space, while the kitchen includes a dishwasher, single oven, freezer, microwave, range hood, and other appliances.
Outdoor features include a balcony and rooftop area suited to outdoor use. The property was built in 2023 and includes attached parking and garage features, although the available parking details vary within the property information.
Outdoor features include a balcony and rooftop area suited to outdoor use. The property was built in 2023 and includes attached parking and garage features, although the available parking details vary within the property information.
Key Highlights
- 1,390‑square‑foot upper residence with 3 bedrooms and 2.5 bathrooms
- Rooftop area and private balcony
- Central air, wood floors, recessed lighting, and built‑ins
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
$21,864
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
4.37%
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%
$437,280
$437.3K
Cap Rate 7%
$312,343
$312.3K
Cap Rate 9%
$242,933
$242.9K
Market Conditions
NOI Build-Up for 1,390 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
$42.2K $30.36/SF
− Vacancy
−$2.4K −$1.76/SF
EGI
$39.8K $28.60/SF
− OpEx
−$17.9K −$12.87/SF
NOI
$21.9K $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%
$437,280
Cap Rate 7%
$312,343
Cap Rate 9%
$242,933
Alternative Uses
Best Use
Apartment 5plus
$312.3K
$273.3K – $364.4K
NOI $21,864 @ 7.0% cap · market cap 4.37%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$338.9K
$296.5K – $395.3K
NOI $23,720 @ 7.0% cap · market cap 4.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,527
Businesses Nearby
Explore this area
Business Placement
Demographics for 19134, PA
57,463
Population
25,290
Households
2.3
Avg Household Size
33
Median Age
18%
College-Educated
77%
High-School Grad
3.4 sq mi
ZIP Area
16,901
Density / Sq Mi
$41,849
Median Household Income
$35,858
Median Earnings
$1,179
Median Rent
$127,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Upper-level residence with an open layout, private balcony, central air, and in-unit laundry.
Where is this residential income property located?
The property is located at 2201 Somerset St Philadelphia, PA.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 1,390‑square‑foot upper residence with 3 bedrooms and 2.5 bathrooms; Rooftop area and private balcony; Central air, wood floors, recessed lighting, and built‑ins
