Renovated
New
For Sale
$380,000
2341 NICHOLAS STREET, Philadelphia, PA 19121
The building contains two two-bedroom residences and is occupied by tenants who are not making payments.
Property Size1,231 SF
Price / SF$308.69
Days on Market3
Property Features for 2341 NICHOLAS STREET
General Information
Standard status
Active
Size
1,231 SF
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Building Details
Year Built
1925
Buildings
1
Tenancy
Multi
Listing Agency:
Keller Williams Real Estate-Langhorne
(215) 757-6100
Listed By:
Kyle Keenan · License #RS349530
(215) 833-0638
Source:
Cummingsrealtors
Added: Oct 8
Changed: Oct 10
Last Checked: Oct 10 at 2:12AM
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 Keller Williams Real Estate-Langhorne
Investment Insights
Based on property information with market context.
Built in 1925, this 1,231-square-foot duplex has two residential units, each with two bedrooms, for a total of four bedrooms. Renovations have been completed.
Both units remain occupied by tenants who are not paying rent. The property is being transferred with the occupants in place, so occupancy and tenant status warrant buyer review.
Both units remain occupied by tenants who are not paying rent. The property is being transferred with the occupants in place, so occupancy and tenant status warrant buyer review.
Key Highlights
- Two residential units, each with 2 bedrooms
- 1,231 SF building constructed in 1925
- Both units are occupied by non‑paying tenants; sale includes tenants in place
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,007
Cap Rate
5.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$420,140
$420.1K
Cap Rate 7%
$300,100
$300.1K
Cap Rate 9%
$233,411
$233.4K
Market Conditions
NOI Build-Up for 1,231 SF
Gross rent
$31.8K $25.80/SF
− Vacancy
−$1.7K −$1.42/SF
EGI
$30.0K $24.38/SF
− OpEx
−$9.0K −$7.31/SF
NOI
$21.0K $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 Rate 5%
$420,140
Cap Rate 7%
$300,100
Cap Rate 9%
$233,411
Alternative Uses
Best Use
Multifamily LT 5
$300.1K
$262.6K – $350.1K
NOI $21,007 @ 7.0% cap · market cap 5.53%
Second Best
Apartment 5plus
$276.6K
$242.0K – $322.7K
NOI $19,363 @ 7.0% cap · market cap 5.10%
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
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,675
Businesses Nearby
Explore this area
Business Placement
Demographics for 19121, PA
41,799
Population
19,673
Households
2.1
Avg Household Size
28
Median Age
25%
College-Educated
84%
High-School Grad
2.4 sq mi
ZIP Area
17,416
Density / Sq Mi
$36,208
Median Household Income
$29,915
Median Earnings
$1,082
Median Rent
$250,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - The building contains two two-bedroom residences and is occupied by tenants who are not making payments.
Where is this duplex located?
The property is located at 2341 NICHOLAS STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Two residential units, each with 2 bedrooms; 1,231 SF building constructed in 1925; Both units are occupied by non‑paying tenants; sale includes tenants in place
