Victorian Stone Twin with
For Sale
Under Contract
$609,000
23 W MOUNT PLEASANT AVENUE, Philadelphia, PA 19119
SINGLE_FAMILY - PHILADELPHIA, PA
Property Size2,678 SF
Price / SF$227.41
Days on Market15
Property Features for 23 W MOUNT PLEASANT AVENUE
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 5, Bedroom 3, Bedroom 4, Bedroom 2, Bedroom 1
Subdivision
MT AIRY (WEST)
Standard status
Active Under Contract
Size
2,678 SF
Amenities
fireplace
sunroom
covered front porch
mini-split air conditioning
full unfinished basement
gardens
laundry
Building Details
Year built
1890
Listing Agency:
BHHS Fox & Roach Chestnut Hill · Berkshire Hathaway HomeServices
(215) 247-3750
Listed By:
Tom Brummett
(215) 432-3949
Added: Jul 30
Changed: Aug 5
Last Checked: Aug 13 at 2:06AM
MLS# PAPH2638336
Copyright © 2026 Berkshire Hathaway HomeServices Fox & Roach, Realtors. 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 Victorian stone twin offers a bright, functional layout with a covered front entrance porch and interior vestibule. The connected living and dining rooms feature a working fireplace, and French doors open from the living room to a sunroom. A second-floor primary suite includes a workout room and laundry, while the third floor provides three additional bedrooms. There are two full bathrooms plus a convenient first-floor powder room. The full unfinished basement has Bilco doors for direct exterior access, providing flexibility for storage, a workshop, or future finishing.
Updates and improvements include an updated boiler, hot water heater, electrical system, mini-split air conditioning, garage doors, and updated windows on every floor. The kitchen has been refreshed with updated cabinetry, a new ceiling, and a new gas stove, and the front and rear stonework has been restored. Outside, the home includes an easy-to-maintain yard shaded by three magnolia trees.
A three-car garage was converted into a two-car garage with a large storage area, along with additional permeable paver parking behind. The property is sited in West Mount Airy, with an easy walk to two train lines and nearby dining and Wissahickon recreation.
Updates and improvements include an updated boiler, hot water heater, electrical system, mini-split air conditioning, garage doors, and updated windows on every floor. The kitchen has been refreshed with updated cabinetry, a new ceiling, and a new gas stove, and the front and rear stonework has been restored. Outside, the home includes an easy-to-maintain yard shaded by three magnolia trees.
A three-car garage was converted into a two-car garage with a large storage area, along with additional permeable paver parking behind. The property is sited in West Mount Airy, with an easy walk to two train lines and nearby dining and Wissahickon recreation.
Key Highlights
- 2,678 SF Victorian stone twin
- Sunroom off the living room with French doors
- Updated boiler, hot water heater, electrical system, and mini‑split air conditioning
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
$45,700
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
7.50%
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%
$914,000
$914.0K
Cap Rate 7%
$652,857
$652.9K
Cap Rate 9%
$507,778
$507.8K
Market Conditions
NOI Build-Up for 2,678 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
$69.1K $25.80/SF
− Vacancy
−$3.8K −$1.42/SF
EGI
$65.3K $24.38/SF
− OpEx
−$19.6K −$7.31/SF
NOI
$45.7K $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%
$914,000
Cap Rate 7%
$652,857
Cap Rate 9%
$507,778
Alternative Uses
Best Use
Multifamily LT 5
$652.9K
$571.3K – $761.7K
NOI $45,700 @ 7.0% cap · market cap 7.50%
Second Best
Apartment 5plus
$601.8K
$526.6K – $702.1K
NOI $42,124 @ 7.0% cap · market cap 6.92%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,030
Businesses Nearby
Explore this area
Business Placement
Demographics for 19119, PA
27,265
Population
13,909
Households
2
Avg Household Size
44
Median Age
55%
College-Educated
96%
High-School Grad
3.4 sq mi
ZIP Area
8,019
Density / Sq Mi
$81,609
Median Household Income
$54,598
Median Earnings
$1,291
Median Rent
$326,600
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 - Victorian stone twin with a sunroom, updated major systems, and a two-car garage with rear access.
Where is this duplex located?
The property is located at 23 W MOUNT PLEASANT AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $609,000.
What are key features of this property?
This property features: 2,678 SF Victorian stone twin; Sunroom off the living room with French doors; Updated boiler, hot water heater, electrical system, and mini‑split air conditioning
