Two-Unit Duplex with Fenced
For Sale
$310,000
2516 S 6TH STREET, Philadelphia, PA 19148
1926 duplex with separate one-bedroom units, central air conditioning, and basement access from the first-floor residence.
Property Size1,100 SF
Days on Market167
Property Features for 2516 S 6TH STREET
General Information
Standard status
Active
Size
1,100 SF
Property subtype
Duplex
Property Condition
Severity
Repairs Needed
Evidence
could use some TLC and paint throughout
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,477
Amenities
central air conditioning
fenced yard
Building Details
Building Size
1,100 SF
Year Built
1926
Listing Agency:
Compass Pennsylvania, LLC
Listed By:
Bob Cervone · License #RS312073
(215) 313-0883
Source:
Patmckennarealtors
Added: Mar 26
Changed: Aug 29
Last Checked: Sep 8 at 10:26AM
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 Compass Pennsylvania, LLC
Investment Insights
Based on property information with market context.
This two-unit residential property was constructed in 1926 and contains a one-bedroom, one-bath residence on each level. The first-floor unit includes access to the basement and a small fenced yard. It is functional but would benefit from additional paint and minor cosmetic attention. The upper unit has a newer kitchen and bathroom, luxury vinyl flooring, and fresh paint. Both residences are equipped with central air conditioning.
The property is located in Philadelphia’s Whitman section of South Philadelphia. It is offered for sale in its existing condition, providing a duplex configuration with two separately arranged living units and outdoor space associated with the first floor.
The property is located in Philadelphia’s Whitman section of South Philadelphia. It is offered for sale in its existing condition, providing a duplex configuration with two separately arranged living units and outdoor space associated with the first floor.
Key Highlights
- Two‑unit duplex with one bedroom and one bathroom in each residence
- Built in 1926
- First‑floor unit includes basement access and a small fenced yard
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
$18,771
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
6.06%
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%
$375,420
$375.4K
Cap Rate 7%
$268,157
$268.2K
Cap Rate 9%
$208,567
$208.6K
Market Conditions
NOI Build-Up for 1,100 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
$28.4K $25.80/SF
− Vacancy
−$1.6K −$1.42/SF
EGI
$26.8K $24.38/SF
− OpEx
−$8.0K −$7.31/SF
NOI
$18.8K $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%
$375,420
Cap Rate 7%
$268,157
Cap Rate 9%
$208,567
Alternative Uses
Best Use
Multifamily LT 5
$268.2K
$234.6K – $312.9K
NOI $18,771 @ 7.0% cap · market cap 6.06%
Second Best
Apartment 5plus
$247.2K
$216.3K – $288.4K
NOI $17,302 @ 7.0% cap · market cap 5.58%
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
Location Intelligence
Trade Area within ½ mile
2,137
Businesses Nearby
Explore this area
Business Placement
Demographics for 19148, PA
53,976
Population
22,944
Households
2.4
Avg Household Size
36
Median Age
39%
College-Educated
85%
High-School Grad
4.2 sq mi
ZIP Area
12,851
Density / Sq Mi
$80,469
Median Household Income
$50,067
Median Earnings
$1,492
Median Rent
$296,800
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 - 1926 duplex with separate one-bedroom units, central air conditioning, and basement access from the first-floor residence.
Where is this duplex located?
The property is located at 2516 S 6TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Two‑unit duplex with one bedroom and one bathroom in each residence; Built in 1926; First‑floor unit includes basement access and a small fenced yard
