Residential Income Property with
For Sale
$225,000
Pending
2601 PENNSYLVANIA AVENUE Unit 724, Philadelphia, PA 19130
One-bedroom residence with deeded parking, in-unit laundry, and access to extensive building services.
Property Size768 SF
Days on Market13
Property Features for 2601 PENNSYLVANIA AVENUE Unit 724
General Information
Standard status
Pending
Size
768 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$4,875
Building Details
Building Size
768 SF
Year Built
1950
Listing Agency:
BHHS Fox & Roach The Harper at Rittenhouse Square
Listed By:
Andy Oei · License #RS302287
(215) 695-5042
Source:
Patmckennarealtors
Added: Sep 11
Changed: Sep 18
Last Checked: Sep 22 at 11:05PM
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 BHHS Fox & Roach The Harper at Rittenhouse Square
Investment Insights
Based on property information with market context.
This one-bedroom residential income property features separate living and dining areas, wide-plank flooring, south-facing exposures, and abundant natural light. The kitchen includes generous counter space, wood cabinetry, gas cooking, and stainless steel appliances. A walk-in closet, dual bedroom exposures, subway-tile bathroom finishes, in-unit washer and dryer, and substantial storage add practical functionality. A deeded parking space is included.
Built in 1950, the pet-friendly building provides a 24-hour lobby attendant, fitness center, and shuttle service. Association fees cover gas cooking, water, and sewer. The property is positioned across from the Art Museum and Fairmount Park, with access to Kelly Drive, Boathouse Row, Whole Foods, Target, the Barnes Foundation, dining, public transportation, and major highways.
Built in 1950, the pet-friendly building provides a 24-hour lobby attendant, fitness center, and shuttle service. Association fees cover gas cooking, water, and sewer. The property is positioned across from the Art Museum and Fairmount Park, with access to Kelly Drive, Boathouse Row, Whole Foods, Target, the Barnes Foundation, dining, public transportation, and major highways.
Key Highlights
- One‑bedroom residence with south‑facing exposures and wide‑plank flooring
- Deeded on‑site parking space included
- Kitchen with gas cooking, stainless steel appliances, wood cabinetry, and generous counter space
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
$12,080
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
5.37%
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%
$241,600
$241.6K
Cap Rate 7%
$172,571
$172.6K
Cap Rate 9%
$134,222
$134.2K
Market Conditions
NOI Build-Up for 768 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
$23.3K $30.36/SF
− Vacancy
−$1.4K −$1.76/SF
EGI
$22.0K $28.60/SF
− OpEx
−$9.9K −$12.87/SF
NOI
$12.1K $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%
$241,600
Cap Rate 7%
$172,571
Cap Rate 9%
$134,222
Alternative Uses
Best Use
Apartment 5plus
$172.6K
$151.0K – $201.3K
NOI $12,080 @ 7.0% cap · market cap 5.37%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$187.2K
$163.8K – $218.4K
NOI $13,106 @ 7.0% cap · market cap 5.82%
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
1,907
Businesses Nearby
Explore this area
Business Placement
Demographics for 19130, PA
31,477
Population
18,178
Households
1.7
Avg Household Size
34
Median Age
78%
College-Educated
98%
High-School Grad
1.2 sq mi
ZIP Area
26,231
Density / Sq Mi
$110,436
Median Household Income
$76,051
Median Earnings
$1,836
Median Rent
$483,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom residence with deeded parking, in-unit laundry, and access to extensive building services.
Where is this residential income property located?
The property is located at 2601 PENNSYLVANIA AVENUE Unit 724 Philadelphia, PA.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: One‑bedroom residence with south‑facing exposures and wide‑plank flooring; Deeded on‑site parking space included; Kitchen with gas cooking, stainless steel appliances, wood cabinetry, and generous counter space
