Duplex with Updated
For Sale
$350,000
2589 BALWYNNE PARK Road, Philadelphia, PA 19131
Multi-Family, PHILADELPHIA, PA
Property Size1,828 SF
Lot Size0.04 Acres
Price / SF$191.47
Days on Market35
Property Features for 2589 BALWYNNE PARK Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking
2
Parking features
Garage - Attached, Driveway
Subdivision
BALWYNNE PARK
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
1,828 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
4214
Utilities
Heating system
Forced Air
Amenities
dedicated washer/dryer
storage closets
front patio
Building Details
Year built
1959
Number of units
2
Building materials
Masonry
Architectural style
Other
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(610) 828-9558
Listed By:
Eileen Gray · License #RS227918L
(215) 603-8484
Added: Jul 31
Changed: Sep 2
Last Checked: Sep 3 at 3:06PM
MLS# PAPH2652868
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This masonry duplex contains two apartments, each arranged with two bedrooms and one bathroom. Both kitchens have been updated, and one unit is vacant with fresh paint. The property includes an attached two-car garage, rear driveway parking for two vehicles, and a basement with separate washers, dryers, and storage closets assigned to each unit. Forced-air heating serves the building, which was constructed in 1959 and contains 1,828 square feet on a 0.0434-acre lot.
The property is located in Philadelphia near shopping, public transportation, restaurants, and local activities. Fairmount Park is within walking distance, while the Mann Music Center is approximately five minutes away. The combination of two-unit configuration, individual amenities, and nearby recreational and commercial destinations supports both owner-occupant and rental-housing use.
The property is located in Philadelphia near shopping, public transportation, restaurants, and local activities. Fairmount Park is within walking distance, while the Mann Music Center is approximately five minutes away. The combination of two-unit configuration, individual amenities, and nearby recreational and commercial destinations supports both owner-occupant and rental-housing use.
Key Highlights
- Duplex with two 2‑bedroom, 1‑bathroom units
- 1,828 square feet on a 0.0434‑acre lot
- Updated kitchens in both units; one unit has fresh paint
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
$31,195
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
8.91%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,912
Businesses Nearby
Explore this area
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
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 matching apartments offer private laundry, basement storage, and dedicated parking for each household.
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: Duplex with two 2‑bedroom, 1‑bathroom units; 1,828 square feet on a 0.0434‑acre lot; Updated kitchens in both units; one unit has fresh paint
