Masonry Duplex with Separate
For Sale
Under Contract
$475,000
2261 STRAHLE Street, Philadelphia, PA 19152
Multi-Family, PHILADELPHIA, PA
Property Size2,460 SF
Lot Size0.07 Acres
Price / SF$193.09
Days on Market42
Property Features for 2261 STRAHLE Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
Driveway
Subdivision
BELLS CORNER
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active Under Contract
Size
2,460 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
5642
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
laundry area
Building Details
Year built
1956
Number of units
2
Building materials
Masonry
Listing Agency:
Elite Realty Group Unl. Inc. · RE/MAX International
(215) 328-4800
Listed By:
Gene Fish · License #AB065992
(215) 962-0880
Added: Jul 25
Changed: Aug 19
Last Checked: Sep 4 at 6:06PM
MLS# PAPH2651872
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This masonry duplex contains 2,460 square feet of living space across two separately accessed units. The first-floor residence offers single-level living with two bedrooms and an open living and dining arrangement connected to the kitchen. Upstairs, the three-bedroom unit includes two full bathrooms and a layout suited to household living. Both residences share a laundry area, while separate utilities are already in place.
A rear exit connects to a private two-car driveway, and the property backs to open space. Built in 1956, the home includes forced-air heating, central air, and driveway parking. The property is located on Strahle Street in Philadelphia’s Bells Corner area.
A rear exit connects to a private two-car driveway, and the property backs to open space. Built in 1956, the home includes forced-air heating, central air, and driveway parking. The property is located on Strahle Street in Philadelphia’s Bells Corner area.
Key Highlights
- 2,460 square feet across two residential units
- First‑floor unit has 2 bedrooms with single‑level access
- Second‑floor unit includes 3 bedrooms and 2 full bathrooms
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
$41,980
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
8.84%
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%
$839,600
$839.6K
Cap Rate 7%
$599,714
$599.7K
Cap Rate 9%
$466,444
$466.4K
Market Conditions
NOI Build-Up for 2,460 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
$63.5K $25.80/SF
− Vacancy
−$3.5K −$1.42/SF
EGI
$60.0K $24.38/SF
− OpEx
−$18.0K −$7.31/SF
NOI
$42.0K $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%
$839,600
Cap Rate 7%
$599,714
Cap Rate 9%
$466,444
Alternative Uses
Best Use
Multifamily LT 5
$599.7K
$524.8K – $699.7K
NOI $41,980 @ 7.0% cap · market cap 8.84%
Second Best
Apartment 5plus
$552.8K
$483.7K – $644.9K
NOI $38,695 @ 7.0% cap · market cap 8.15%
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
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,466
Businesses Nearby
Explore this area
Business Placement
Demographics for 19152, PA
35,911
Population
13,715
Households
2.6
Avg Household Size
41
Median Age
28%
College-Educated
88%
High-School Grad
2.9 sq mi
ZIP Area
12,383
Density / Sq Mi
$57,966
Median Household Income
$40,428
Median Earnings
$1,236
Median Rent
$270,000
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 - Two residential units provide private access, flexible layouts, and shared laundry facilities.
Where is this duplex located?
The property is located at 2261 STRAHLE Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 2,460 square feet across two residential units; First‑floor unit has 2 bedrooms with single‑level access; Second‑floor unit includes 3 bedrooms and 2 full bathrooms
