Duplex with Updated
For Sale
$350,000
Pending
2589 BALWYNNE PARK ROAD, Philadelphia, PA 19131
Duplex offering updated kitchens, dedicated in-unit laundry, and two-car garage parking for each unit.
Property Size1,828 SF
Days on Market96
Property Features for 2589 BALWYNNE PARK ROAD
General Information
Standard status
Pending
Size
1,828 SF
Total Parking Spaces
4
Property subtype
Duplex
Site & Location
Neighborhood
West Philadelphia
Taxes and HOA fees
Annual Taxes
$4,214
Amenities
front patio
basement washer/dryer
storage closets
Building Details
Building Size
1,828 SF
Year Built
1959
Buildings
1
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty
Listed By:
Eileen Gray · License #RS227918L
(215) 603-8484
Source:
Patmckennarealtors
Added: Jul 29
Changed: Oct 31
Last Checked: Nov 1 at 11:55AM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
This duplex features two units, each with two bedrooms and one bathroom. Both units have updated kitchens, and the property also includes updated windows. The vacant unit has been freshly painted, and there is newer flooring in the hallway leading to both units. In the basement, each unit has dedicated washers and dryers, along with storage closets (one per unit). Parking is provided via a two-car garage with one space for each unit, plus driveway parking for two cars at the rear of the property.
Built in 1959, the property is described as being in a convenient location with major shopping areas within walking distance. Public transportation is also readily available, and restaurants and activities are within blocks. The current tenant in unit 1 has been in place for 32 years.
The layout supports either owner-occupancy or long-term rental use, with the two units each having their own laundry and storage in the basement.
Built in 1959, the property is described as being in a convenient location with major shopping areas within walking distance. Public transportation is also readily available, and restaurants and activities are within blocks. The current tenant in unit 1 has been in place for 32 years.
The layout supports either owner-occupancy or long-term rental use, with the two units each having their own laundry and storage in the basement.
Key Highlights
- Two‑unit duplex built in 1959
- Updated kitchens in both units
- Dedicated washers and dryers for each unit in the basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,195
Cap Rate
8.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$623,900
$623.9K
Cap Rate 7%
$445,643
$445.6K
Cap Rate 9%
$346,611
$346.6K
Market Conditions
NOI Build-Up for 1,828 SF
Gross rent
$47.2K $25.80/SF
− Vacancy
−$2.6K −$1.42/SF
EGI
$44.6K $24.38/SF
− OpEx
−$13.4K −$7.31/SF
NOI
$31.2K $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 Rate 5%
$623,900
Cap Rate 7%
$445,643
Cap Rate 9%
$346,611
Alternative Uses
Best Use
Multifamily LT 5
$445.6K
$389.9K – $519.9K
NOI $31,195 @ 7.0% cap · market cap 8.91%
Second Best
Apartment 5plus
$410.8K
$359.4K – $479.2K
NOI $28,754 @ 7.0% cap · market cap 8.22%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,912
Businesses Nearby
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Business Placement
Demographics for 19131, PA
42,705
Population
22,826
Households
1.9
Avg Household Size
38
Median Age
30%
College-Educated
92%
High-School Grad
5.3 sq mi
ZIP Area
8,058
Density / Sq Mi
$46,057
Median Household Income
$40,052
Median Earnings
$1,312
Median Rent
$163,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Duplex offering updated kitchens, dedicated in-unit laundry, and two-car garage parking for each unit.
Where is this duplex located?
The property is located at 2589 BALWYNNE PARK ROAD Philadelphia, PA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1959; Updated kitchens in both units; Dedicated washers and dryers for each unit in the basement
