Recently Rehabbed
For Sale
$199,900
2434 Harlan Street, Philadelphia, PA 19121
Recently fully rehabbed duplex with central A/C, stainless appliances, and laundry hook-up; second floor is tenant-occupied.
Property Size836 SF
Price / SF$239.11
Days on Market349
Property Features for 2434 Harlan Street
General Information
Standard status
Active
Size
836 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RSA5
Occupancy
50%
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,931
Amenities
custom designed kitchen
granite countertop
central A/C
dishwasher
brand new stainless steel appliances
laundry hook-up
backyard
No
No Pool
Above Grade, Below Grade
Building Details
Year Built
1925
Tenancy
Multi
Listing Agency:
Lemeshevski Realty Int'l
Listed By:
Andrei Lemeshevski
(267) 800-6234
Source:
Compass
Added: Sep 26, 2025
Changed: Aug 8
Last Checked: Jul 23 at 9:25AM
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 Lemeshevski Realty Int'l
Investment Insights
Based on property information with market context.
This recently fully rehabbed duplex offers two residential units with a mix of modern finishes and brand-new appliances. The kitchen is custom designed with granite countertops, and the units include central A/C and a dishwasher, along with brand new stainless steel appliances. Laundry hook-up is also included. The second floor unit is currently occupied by a tenant, while the first floor unit is bi-level with access to a backyard and is currently vacant.
The property is located in Philadelphia County, within the Philadelphia City School District.
With one occupied unit and one vacant unit, the duplex presents a practical configuration for an owner seeking current rental income alongside a ready-to-rent space.
The property is located in Philadelphia County, within the Philadelphia City School District.
With one occupied unit and one vacant unit, the duplex presents a practical configuration for an owner seeking current rental income alongside a ready-to-rent space.
Key Highlights
- Recently fully rehabbed duplex in Philadelphia with central A/C
- Custom‑designed kitchen with granite countertops and brand new stainless steel appliances
- Dishwasher included and laundry hook‑up available
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
$14,266
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
7.14%
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%
$285,320
$285.3K
Cap Rate 7%
$203,800
$203.8K
Cap Rate 9%
$158,511
$158.5K
Market Conditions
NOI Build-Up for 836 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
$21.6K $25.80/SF
− Vacancy
−$1.2K −$1.42/SF
EGI
$20.4K $24.38/SF
− OpEx
−$6.1K −$7.31/SF
NOI
$14.3K $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%
$285,320
Cap Rate 7%
$203,800
Cap Rate 9%
$158,511
Alternative Uses
Best Use
Multifamily LT 5
$203.8K
$178.3K – $237.8K
NOI $14,266 @ 7.0% cap · market cap 7.14%
Second Best
Apartment 5plus
$187.9K
$164.4K – $219.2K
NOI $13,150 @ 7.0% cap · market cap 6.58%
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
50%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,594
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
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Recently fully rehabbed duplex with central A/C, stainless appliances, and laundry hook-up; second floor is tenant-occupied.
Where is this duplex located?
The property is located at 2434 Harlan Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Recently fully rehabbed duplex in Philadelphia with central A/C; Custom‑designed kitchen with granite countertops and brand new stainless steel appliances; Dishwasher included and laundry hook‑up available
