Occupied Two-Unit
For Sale
$525,000
2440 W JEFFERSON ST, Philadelphia, PA 19121
Two occupied residences offer separate living areas and outdoor access.
Property Size2,280 SF
Price / SF$230.26
Days on Market42
Property Features for 2440 W JEFFERSON ST
General Information
Standard status
Active
Size
2,280 SF
Property subtype
Multi-family
Occupancy
100%
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/2BA
Multifamily Units
2
Amenities
washer and dryer
back patio
roof deck
Listing Agency:
KW Empower
(215) 627-3500
Listed By:
Jim Onesti · License #RS224457L
(484) 429-6769
Source:
Hostetterrealty
Added: Jul 24
Changed: Aug 31
Last Checked: Sep 2 at 1:14AM
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 KW Empower
Investment Insights
Based on property information with market context.
This 2,280-square-foot duplex contains two occupied residences with distinct layouts. The first unit includes three bedrooms, two bathrooms, an updated kitchen, a generous living room, in-unit washer and dryer, and access to a rear patio. The second offers two bedrooms, two bathrooms, a kitchen, a large living area, and entry to a roof deck with skyline views. Tile work and upgraded fixtures are present in all bathrooms.
Located at 2440 W Jefferson Street in Philadelphia, the property includes both above-grade and below-grade square footage. Its two-unit configuration, current occupancy, and varied outdoor spaces provide a clear physical profile for investors evaluating a residential income property.
Located at 2440 W Jefferson Street in Philadelphia, the property includes both above-grade and below-grade square footage. Its two-unit configuration, current occupancy, and varied outdoor spaces provide a clear physical profile for investors evaluating a residential income property.
Key Highlights
- 2,280‑square‑foot duplex with two occupied units
- Unit 1 includes 3 bedrooms, 2 bathrooms, an updated kitchen, washer and dryer, and rear patio access
- Unit 2 features 2 bedrooms, 2 bathrooms, a large living area, and roof deck access
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
$38,908
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
7.41%
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%
$778,160
$778.2K
Cap Rate 7%
$555,829
$555.8K
Cap Rate 9%
$432,311
$432.3K
Market Conditions
NOI Build-Up for 2,280 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
$58.8K $25.80/SF
− Vacancy
−$3.2K −$1.42/SF
EGI
$55.6K $24.38/SF
− OpEx
−$16.7K −$7.31/SF
NOI
$38.9K $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%
$778,160
Cap Rate 7%
$555,829
Cap Rate 9%
$432,311
Alternative Uses
Best Use
Multifamily LT 5
$555.8K
$486.4K – $648.5K
NOI $38,908 @ 7.0% cap · market cap 7.41%
Second Best
Apartment 5plus
$512.3K
$448.3K – $597.7K
NOI $35,863 @ 7.0% cap · market cap 6.83%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
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 - Two occupied residences offer separate living areas and outdoor access.
Where is this duplex located?
The property is located at 2440 W JEFFERSON ST Philadelphia, PA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 2,280‑square‑foot duplex with two occupied units; Unit 1 includes 3 bedrooms, 2 bathrooms, an updated kitchen, washer and dryer, and rear patio access; Unit 2 features 2 bedrooms, 2 bathrooms, a large living area, and roof deck access
