Updated Duplex with Backyard
For Sale
$285,000
2230 N 12TH STREET, Philadelphia, PA 19133
Two occupied units carry leases through July 2027 and are configured as two-bedroom, one-bath residences.
Property Size1,546 SF
Days on Market8
Property Features for 2230 N 12TH STREET
General Information
Standard status
Active
Size
1,546 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,900
Building Details
Building Size
1,546 SF
Year Built
1920
Buildings
1
Tenancy
Multi
Listing Agency:
Equity Plus Real Estate
Listed By:
Jacqueline J. Tobin · License #RM426341
(202) 910-6690
Source:
Lizclarkrealestate
Added: Sep 1
Changed: Sep 3
Last Checked: Sep 7 at 8:53AM
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 Equity Plus Real Estate
Investment Insights
Based on property information with market context.
This legal duplex, built in 1920, has been updated and contains two tenant-occupied residences. Each unit is technically arranged with three bedrooms, but both have been marketed and leased as two-bedroom, one-bath layouts. The lower residence provides access to the backyard. Both units have new tenants beginning August 1st, with lease terms extending through the end of July 2027.
The property includes rental licenses and LBP testing records. Located near Temple Campus and approximately one and a half blocks from the Temple Architecture Department, it also offers convenient access to Broad Street and nearby neighborhood amenities, including a playground and corner store. New construction is taking place throughout the surrounding area. Both residences use electric utilities.
The property includes rental licenses and LBP testing records. Located near Temple Campus and approximately one and a half blocks from the Temple Architecture Department, it also offers convenient access to Broad Street and nearby neighborhood amenities, including a playground and corner store. New construction is taking place throughout the surrounding area. Both residences use electric utilities.
Key Highlights
- Legal duplex with 2 tenant‑occupied units
- Leases extend through the end of July 2027
- Each unit is marketed and rented as 2BR, 1BA
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
$24,318
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
8.53%
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%
$486,360
$486.4K
Cap Rate 7%
$347,400
$347.4K
Cap Rate 9%
$270,200
$270.2K
Market Conditions
NOI Build-Up for 1,546 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
$46.9K $30.36/SF
− Vacancy
−$2.7K −$1.76/SF
EGI
$44.2K $28.60/SF
− OpEx
−$19.9K −$12.87/SF
NOI
$24.3K $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%
$486,360
Cap Rate 7%
$347,400
Cap Rate 9%
$270,200
Alternative Uses
Best Use
Multifamily LT 5
$376.9K
$329.8K – $439.7K
NOI $26,382 @ 7.0% cap · market cap 9.26%
Second Best
Apartment 5plus
$347.4K
$304.0K – $405.3K
NOI $24,318 @ 7.0% cap · market cap 8.53%
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
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,273
Businesses Nearby
Explore this area
Business Placement
Demographics for 19133, PA
24,772
Population
10,766
Households
2.3
Avg Household Size
34
Median Age
7%
College-Educated
63%
High-School Grad
1.3 sq mi
ZIP Area
19,055
Density / Sq Mi
$31,756
Median Household Income
$26,563
Median Earnings
$919
Median Rent
$85,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two occupied units carry leases through July 2027 and are configured as two-bedroom, one-bath residences.
Where is this duplex located?
The property is located at 2230 N 12TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Legal duplex with 2 tenant‑occupied units; Leases extend through the end of July 2027; Each unit is marketed and rented as 2BR, 1BA
