Occupied Two-Unit
For Sale
$280,000
2213 W WHARTON STREET, Philadelphia, PA 19146
Both residential units are occupied under month-to-month leases, providing current tenancy without a fixed long-term lease commitment.
Property Size1,068 SF
Days on Market157
Property Features for 2213 W WHARTON STREET
General Information
Standard status
Active
Size
1,068 SF
Property subtype
Duplex
Occupancy
100%
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,693
Building Details
Building Size
1,068 SF
Year Built
1923
Buildings
1
Listing Agency:
Legal Real Estate LLC
Listed By:
Marvin A Lane Sr. · License #RS315153
(239) 373-7230
Source:
Patmckennarealtors
Added: Apr 5
Changed: Aug 31
Last Checked: Sep 7 at 6:40AM
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 Legal Real Estate LLC
Investment Insights
Based on property information with market context.
This two-unit duplex contains 1,068 of stated property size and is currently fully occupied. Both units are leased on a month-to-month basis, allowing the existing tenancy to continue without fixed-term lease commitments. The property is identified at 2213 W Wharton St in Philadelphia, Pennsylvania, within South Philadelphia. Its duplex configuration and active occupancy provide a straightforward residential income property profile for an owner evaluating an existing two-unit asset.
Key Highlights
- Two‑unit duplex at 2213 W Wharton St, Philadelphia, PA 19146
- 1,068 of stated property size
- 100% occupied
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
$18,225
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
6.51%
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%
$364,500
$364.5K
Cap Rate 7%
$260,357
$260.4K
Cap Rate 9%
$202,500
$202.5K
Market Conditions
NOI Build-Up for 1,068 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
$27.6K $25.80/SF
− Vacancy
−$1.5K −$1.42/SF
EGI
$26.0K $24.38/SF
− OpEx
−$7.8K −$7.31/SF
NOI
$18.2K $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%
$364,500
Cap Rate 7%
$260,357
Cap Rate 9%
$202,500
Alternative Uses
Best Use
Multifamily LT 5
$260.4K
$227.8K – $303.8K
NOI $18,225 @ 7.0% cap · market cap 6.51%
Second Best
Apartment 5plus
$240.0K
$210.0K – $280.0K
NOI $16,799 @ 7.0% cap · market cap 6.00%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,919
Businesses Nearby
Explore this area
Business Placement
Demographics for 19146, PA
41,920
Population
22,182
Households
1.9
Avg Household Size
34
Median Age
65%
College-Educated
94%
High-School Grad
1.7 sq mi
ZIP Area
24,659
Density / Sq Mi
$99,702
Median Household Income
$68,849
Median Earnings
$1,708
Median Rent
$452,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Both residential units are occupied under month-to-month leases, providing current tenancy without a fixed long-term lease commitment.
Where is this duplex located?
The property is located at 2213 W WHARTON STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Two‑unit duplex at 2213 W Wharton St, Philadelphia, PA 19146; 1,068 of stated property size; 100% occupied
