New Construction Condominium in
For Sale
$410,000
2348 TURNER STREET, Philadelphia, PA 19121
New construction condominium with tax abatement, prime Philadelphia location.
Property Size1,926 SF
Price / SF$212.88
Days on Market683
Property Features for 2348 TURNER STREET
General Information
Standard status
Active
Size
1,926 SF
Property subtype
Condo/Townhome
Building Details
Year Built
2024
Listing Agency:
Iron Valley Real Estate Doylestown
(215) 622-3580
Listed By:
Zac T Rank · License #RS323894
(215) 622-3580
Source:
Exitrealty
Added: Sep 21, 2024
Changed: Jul 6
Last Checked: Aug 4 at 6:07AM
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 Iron Valley Real Estate Doylestown
Investment Insights
Based on property information with market context.
This is a new construction condominium located in Philadelphia, PA 19121. The property features 2 bedrooms, 2 full bathrooms, and 1 half bathroom. The unit size is 1926 square feet. The condominium has electric cooking and heating, with gas as an option. The master bedroom includes a suite with a closet and bathroom. The property is within walking distance of the Philadelphia Zoo, Art Museum, and Kelly Drive. It is a short drive to 76 and five minutes from Center City. A full 10-year tax abatement and a one-year builder warranty are included.
Key Highlights
- Prime location in 19121, walking distance to Philadelphia Zoo, Art Museum, and Kelly Drive; short drive to 76 and Center City.
- New construction condominium built in 2024.
- Full 10‑year tax abatement.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $58.5k | $30.36 |
| − Vacancy | −$3.4k | −$1.76 |
| EGI | $55.1k | $28.60 |
| − OpEx | −$24.8k | −$12.87 |
| NOI | $30.3k | $15.73 |
1,926 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$432.8K
$378.7K – $504.9K
NOI $30,295 @ 7.0% cap · market cap 7.39%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$469.5K
$410.8K – $547.8K
NOI $32,867 @ 7.0% cap · market cap 8.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,178
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
$250,100
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in Philadelphia, PA
Properties on Market for Residential income properties in Philadelphia
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - New construction condominium with tax abatement, prime Philadelphia location.
Where is this residential income property located?
The property is located at 2348 TURNER STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Prime location in 19121, walking distance to Philadelphia Zoo, Art Museum, and Kelly Drive; short drive to 76 and Center City.; New construction condominium built in 2024.; Full 10‑year tax abatement.
