Traditional Residential Income
For Sale
$619,000
2340 CHRISTIAN STREET, Philadelphia, PA 19146
1920-built property with central air, gas-fired heating, and a partially unfinished lower level.
Property Size1,833 SF
Price / SF$393.77
Days on Market101
Property Features for 2340 CHRISTIAN STREET
General Information
Standard status
Active
Size
1,833 SF
Property subtype
Residential Income
Zoning
RSA5
Taxes and HOA fees
Annual Taxes
$7,080
Amenities
Sidewalks, Street Lights
Central Air, Ceiling Fan(s), Electric
Natural Gas, Forced Air
Partial, Unfinished
Range, Gas Range, Gas Oven, Washer, Gas Water Heater, Built-In Range, Dishwasher, Disposal, Washer/Dryer Stacked, Microwave, ENERGY STAR Qualified Appliances, ENERGY STAR Qualified Water Heater
Eat-in Kitchen, Ceiling Fan(s), Recessed Lighting
City, Street, Other
On Street
Traditional
Building Details
Building Size
1,833 SF
Year Built
1920
Listing Agency:
CLASS HARLAN REAL ESTATE
Listed By:
JEFFREY W CLEMENTS · License #RS342660
(215) 292-8508
Source:
Evrealestate
Added: May 29
Changed: Sep 5
Last Checked: Sep 6 at 6:30AM
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 CLASS HARLAN REAL ESTATE
Investment Insights
Based on property information with market context.
Built in 1920, this traditional residential income property includes central air, ceiling fans, recessed lighting, and an eat-in kitchen. The kitchen is equipped with a gas range, gas oven, dishwasher, disposal, microwave, built-in range, and stacked washer/dryer. Natural gas service and forced-air heating are provided, along with a gas water heater and ENERGY STAR qualified appliances.
The property is located at 2340 Christian Street in Philadelphia, with two-hour parking available on the street. It carries RSA5 zoning and includes a partially unfinished lower level. The exterior is characterized by a traditional design and an urban street setting.
The property is located at 2340 Christian Street in Philadelphia, with two-hour parking available on the street. It carries RSA5 zoning and includes a partially unfinished lower level. The exterior is characterized by a traditional design and an urban street setting.
Key Highlights
- 1920 construction year
- RSA5 zoning
- Central air and forced‑air heating with natural gas service
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
$24,727
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
3.99%
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%
$494,540
$494.5K
Cap Rate 7%
$353,243
$353.2K
Cap Rate 9%
$274,744
$274.7K
Market Conditions
NOI Build-Up for 1,572 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
$47.7K $30.36/SF
− Vacancy
−$2.8K −$1.76/SF
EGI
$45.0K $28.60/SF
− OpEx
−$20.2K −$12.87/SF
NOI
$24.7K $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%
$494,540
Cap Rate 7%
$353,243
Cap Rate 9%
$274,744
Alternative Uses
Best Use
Apartment 5plus
$353.2K
$309.1K – $412.1K
NOI $24,727 @ 7.0% cap · market cap 3.99%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$383.2K
$335.3K – $447.1K
NOI $26,826 @ 7.0% cap · market cap 4.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,278
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - 1920-built property with central air, gas-fired heating, and a partially unfinished lower level.
Where is this residential income property located?
The property is located at 2340 CHRISTIAN STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $619,000.
What are key features of this property?
This property features: 1920 construction year; RSA5 zoning; Central air and forced‑air heating with natural gas service
