Income-Generating Duplex
For Sale
$395,000
Pending
2224 GLENVIEW STREET, Philadelphia, PA 19149
Turnkey duplex with two 2-bedroom, 1-bath units, each described as move-in ready for immediate rental income.
Property Size1,680 SF
Days on Market58
Property Features for 2224 GLENVIEW STREET
General Information
Standard status
Pending
Size
1,680 SF
Property subtype
Duplex
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1950
Listing Agency:
Canaan Realty Services INC
(215) 333-1826
Listed By:
Joey S. Fang
(215) 869-8636
Source:
Cummingsrealtors
Added: Jul 20
Changed: Sep 14
Last Checked: Sep 15 at 6:03AM
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 Canaan Realty Services INC
Investment Insights
Based on property information with market context.
This income-producing duplex features two spacious 2-bedroom, 1-bath units. The public remarks indicate both apartments are move-in ready, allowing an owner to begin rental income immediately.
The property is located near schools, shopping, dining, public transportation, and major highways. The combination of two separate units and convenient access makes the duplex suitable for either investment ownership or owner-occupancy with rental support.
As presented, the asset offers a straightforward duplex configuration with matching unit types across both residences, which can simplify day-to-day management compared with a mixed-use layout.
The property is located near schools, shopping, dining, public transportation, and major highways. The combination of two separate units and convenient access makes the duplex suitable for either investment ownership or owner-occupancy with rental support.
As presented, the asset offers a straightforward duplex configuration with matching unit types across both residences, which can simplify day-to-day management compared with a mixed-use layout.
Key Highlights
- Income‑producing duplex built in 1950 with two separate units
- Two 2‑bedroom, 1‑bath units—ideal for renting both or living in one unit and renting the other
- Both apartments are described as move‑in ready for immediate rental income
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
$23,923
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
6.06%
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%
$478,460
$478.5K
Cap Rate 7%
$341,757
$341.8K
Cap Rate 9%
$265,811
$265.8K
Market Conditions
NOI Build-Up for 1,680 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
$35.3K $21.00/SF
− Vacancy
−$1.1K −$0.66/SF
EGI
$34.2K $20.34/SF
− OpEx
−$10.3K −$6.10/SF
NOI
$23.9K $14.24/SF
Area
ZIP 19149
Vacancy
3.13%
Lease Rate
$21.00 /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%
$478,460
Cap Rate 7%
$341,757
Cap Rate 9%
$265,811
Alternative Uses
Best Use
Apartment 5plus
$3.22M
$2.81M – $3.75M
NOI $225,164 @ 7.0% cap · market cap 57.00%
Second Best
Multifamily LT 5
$341.8K
$299.0K – $398.7K
NOI $23,923 @ 7.0% cap · market cap 6.06%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,541
Businesses Nearby
Explore this area
Business Placement
Demographics for 19149, PA
60,408
Population
20,810
Households
2.9
Avg Household Size
33
Median Age
15%
College-Educated
76%
High-School Grad
2.4 sq mi
ZIP Area
25,170
Density / Sq Mi
$54,679
Median Household Income
$33,111
Median Earnings
$1,484
Median Rent
$198,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Turnkey duplex with two 2-bedroom, 1-bath units, each described as move-in ready for immediate rental income.
Where is this duplex located?
The property is located at 2224 GLENVIEW STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Income‑producing duplex built in 1950 with two separate units; Two 2‑bedroom, 1‑bath units—ideal for renting both or living in one unit and renting the other; Both apartments are described as move‑in ready for immediate rental income
