Renovated Corner
For Sale
$369,000
2601 E ONTARIO Street, Philadelphia, PA 19134
Multi-Family, PHILADELPHIA, PA
Property Size1,932 SF
Lot Size0.03 Acres
Price / SF$190.99
Days on Market95
Property Features for 2601 E ONTARIO Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
On Street
Subdivision
PORT RICHMOND
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
1,932 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
3506
Utilities
Heating system
Electric (Heating), Hot Water(Heating), Other (Heating), Heat Pump (Heating)
Cooling system
Ductless
Building Details
Year built
1920
Number of units
2
Building materials
Masonry
Architectural style
Other
Listing Agency:
Realty Mark Associates
(215) 376-4444
Listed By:
Aggie Roberts · License #RS277846
(215) 680-1136
Added: Jun 12
Changed: Sep 13
Last Checked: Sep 14 at 12:06PM
MLS# PAPH2633484
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 1,932-square-foot masonry duplex was built in 1920 and is arranged as a mixed-use property. The first floor provides an open interior with several rooms, a powder room, and a kitchenette area. Separate entrances support distinct access between the levels. The upper residence has been renovated with three bedrooms, a kitchen with white cabinetry, quartz countertops, stainless steel appliances, recessed lighting, updated flooring, and a remodeled hall bathroom.
Positioned on a 0.0252-acre corner lot in Philadelphia’s Port Richmond neighborhood, the property offers street-facing exposure and natural light on multiple sides. On-street parking is available, with ductless cooling and hot water, electric, other, and heat pump heating systems identified. Shopping, restaurants, parks, and public transportation are located in the surrounding area.
Positioned on a 0.0252-acre corner lot in Philadelphia’s Port Richmond neighborhood, the property offers street-facing exposure and natural light on multiple sides. On-street parking is available, with ductless cooling and hot water, electric, other, and heat pump heating systems identified. Shopping, restaurants, parks, and public transportation are located in the surrounding area.
Key Highlights
- 1,932‑square‑foot masonry duplex on a 0.0252‑acre corner lot
- Renovated upper‑level three‑bedroom residence
- Kitchen with quartz countertops and stainless steel appliances
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
$32,969
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
8.93%
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%
$659,380
$659.4K
Cap Rate 7%
$470,986
$471.0K
Cap Rate 9%
$366,322
$366.3K
Market Conditions
NOI Build-Up for 1,932 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
$49.8K $25.80/SF
− Vacancy
−$2.7K −$1.42/SF
EGI
$47.1K $24.38/SF
− OpEx
−$14.1K −$7.31/SF
NOI
$33.0K $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%
$659,380
Cap Rate 7%
$470,986
Cap Rate 9%
$366,322
Alternative Uses
Best Use
Multifamily LT 5
$471.0K
$412.1K – $549.5K
NOI $32,969 @ 7.0% cap · market cap 8.93%
Second Best
Apartment 5plus
$434.1K
$379.9K – $506.5K
NOI $30,389 @ 7.0% cap · market cap 8.24%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,838
Businesses Nearby
Explore this area
Business Placement
Demographics for 19134, PA
57,463
Population
25,290
Households
2.3
Avg Household Size
33
Median Age
18%
College-Educated
77%
High-School Grad
3.4 sq mi
ZIP Area
16,901
Density / Sq Mi
$41,849
Median Household Income
$35,858
Median Earnings
$1,179
Median Rent
$127,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Mixed-use configuration includes a renovated three-bedroom residence, separate entrances, and flexible first-floor space.
Where is this duplex located?
The property is located at 2601 E ONTARIO Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: 1,932‑square‑foot masonry duplex on a 0.0252‑acre corner lot; Renovated upper‑level three‑bedroom residence; Kitchen with quartz countertops and stainless steel appliances
