First-Floor 2-Bedroom Condo with
For Sale
$400,000
2555 CARPENTER STREET #A, Philadelphia, PA 19146
First-floor condo in a boutique five-unit building with covered parking and a private back patio.
Property Size1,386 SF
Price / SF$288.60
Days on Market52
Property Features for 2555 CARPENTER STREET #A
General Information
Standard status
Active
Size
1,386 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA + den
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
private front door
private back patio
covered parking
laundry room
Building Details
Year Built
2015
Listing Agency:
Compass Pennsylvania, LLC
(267) 435-8015
Listed By:
Cherise Wynne
(215) 518-5193
Source:
Cummingsrealtors
Added: Jul 28
Changed: Sep 17
Last Checked: Sep 16 at 7:08PM
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.
Welcome to 2555 Carpenter Street, Unit A, a first-floor condo in a boutique five-unit building. The home is laid out across two levels and includes two bedrooms, two full bathrooms, a den, an open kitchen and living area, and access to a private back patio.
The main floor features one bedroom and a full bathroom, along with the open living and kitchen space that leads to the private outdoor area. The lower level provides additional flexible space with a den, a second full bathroom, a laundry room, and another generously sized bedroom.
Built in 2015, this Graduate Hospital residence offers convenient in-unit privacy with its own front door, plus covered parking. The setting places you steps from South Street West and the Schuylkill River Trail, with a short walk to CHOP, Penn, Drexel, and the South Street Bridge. Public transportation is available at Penn Medicine Station with the Airport Line, Media/Elwyn Line, and Wilmington/Newark Line.
The main floor features one bedroom and a full bathroom, along with the open living and kitchen space that leads to the private outdoor area. The lower level provides additional flexible space with a den, a second full bathroom, a laundry room, and another generously sized bedroom.
Built in 2015, this Graduate Hospital residence offers convenient in-unit privacy with its own front door, plus covered parking. The setting places you steps from South Street West and the Schuylkill River Trail, with a short walk to CHOP, Penn, Drexel, and the South Street Bridge. Public transportation is available at Penn Medicine Station with the Airport Line, Media/Elwyn Line, and Wilmington/Newark Line.
Key Highlights
- Boutique five‑unit building; private front door access
- First‑floor condo with two levels of living space
- Two bedrooms, two full bathrooms plus a den
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
$21,801
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
5.45%
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%
$436,020
$436.0K
Cap Rate 7%
$311,443
$311.4K
Cap Rate 9%
$242,233
$242.2K
Market Conditions
NOI Build-Up for 1,386 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
$42.1K $30.36/SF
− Vacancy
−$2.4K −$1.76/SF
EGI
$39.6K $28.60/SF
− OpEx
−$17.8K −$12.87/SF
NOI
$21.8K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$436,020
Cap Rate 7%
$311,443
Cap Rate 9%
$242,233
Alternative Uses
Best Use
Apartment 5plus
$311.4K
$272.5K – $363.4K
NOI $21,801 @ 7.0% cap · market cap 5.45%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$337.9K
$295.7K – $394.2K
NOI $23,652 @ 7.0% cap · market cap 5.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
5,088
Businesses Nearby
Explore this area
Business Placement
Demographics for 19146, PA
41,920
Population
22,182
Households
1.9
Avg Household Size
34
Median Age
65%
College-Educated
94%
High-School Grad
1.7 sq mi
ZIP Area
24,659
Density / Sq Mi
$99,702
Median Household Income
$68,849
Median Earnings
$1,708
Median Rent
$452,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - First-floor condo in a boutique five-unit building with covered parking and a private back patio.
Where is this residential income property located?
The property is located at 2555 CARPENTER STREET #A Philadelphia, PA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Boutique five‑unit building; private front door access; First‑floor condo with two levels of living space; Two bedrooms, two full bathrooms plus a den
