Two-Bedroom Residential Income
For Sale
$210,000
2601 PENNSYLVANIA AVENUE Unit 652, Philadelphia, PA 19130
Condominium residence with upgraded finishes, in-unit laundry, air conditioning, and access to extensive building amenities.
Property Size958 SF
Days on Market103
Property Features for 2601 PENNSYLVANIA AVENUE Unit 652
General Information
Standard status
Active
Size
958 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$3,159
Building Details
Building Size
958 SF
Year Built
1950
Listing Agency:
Philly Real Estate
Listed By:
Kheng Tan · License #RM421218
(215) 722-0800
Source:
Patmckennarealtors
Added: May 29
Changed: Sep 2
Last Checked: Sep 8 at 12:20PM
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 Philly Real Estate
Investment Insights
Based on property information with market context.
This residential income property is a two-bedroom, one-bath condominium residence offering nearly 1,000 square feet of living space. The unit includes upgraded flooring, generous closet capacity, an in-unit washer and dryer, a newer water heater, and a recently installed air conditioning unit. The kitchen has gas cooking, while the gas water heater serves the residence. Water and gas are included in the condo fee; electricity is separately metered. A dishwasher was replaced in July 2026.
Building amenities include a fitness center, shuttle service to Center City, convenience store, pharmacy, dry-cleaning services, package receiving, and professional management. The property is in Philadelphia’s Art Museum/Fairmount neighborhood, near the Philadelphia Museum of Art, Fairmount Park, Kelly Drive, Boathouse Row, and 30th Street Station. SEPTA service is also nearby.
Building amenities include a fitness center, shuttle service to Center City, convenience store, pharmacy, dry-cleaning services, package receiving, and professional management. The property is in Philadelphia’s Art Museum/Fairmount neighborhood, near the Philadelphia Museum of Art, Fairmount Park, Kelly Drive, Boathouse Row, and 30th Street Station. SEPTA service is also nearby.
Key Highlights
- Two‑bedroom, one‑bath condominium with nearly 1,000 square feet
- Upgraded flooring, in‑unit washer and dryer, newer water heater, and recently installed air conditioning
- Water and gas included in condo fee; electricity paid separately
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
$15,069
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
7.18%
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%
$301,380
$301.4K
Cap Rate 7%
$215,271
$215.3K
Cap Rate 9%
$167,433
$167.4K
Market Conditions
NOI Build-Up for 958 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
$29.1K $30.36/SF
− Vacancy
−$1.7K −$1.76/SF
EGI
$27.4K $28.60/SF
− OpEx
−$12.3K −$12.87/SF
NOI
$15.1K $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%
$301,380
Cap Rate 7%
$215,271
Cap Rate 9%
$167,433
Alternative Uses
Best Use
Apartment 5plus
$215.3K
$188.4K – $251.2K
NOI $15,069 @ 7.0% cap · market cap 7.18%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$233.5K
$204.4K – $272.5K
NOI $16,348 @ 7.0% cap · market cap 7.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence with upgraded finishes, in-unit laundry, air conditioning, and access to extensive building amenities.
Where is this residential income property located?
The property is located at 2601 PENNSYLVANIA AVENUE Unit 652 Philadelphia, PA.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Two‑bedroom, one‑bath condominium with nearly 1,000 square feet; Upgraded flooring, in‑unit washer and dryer, newer water heater, and recently installed air conditioning; Water and gas included in condo fee; electricity paid separately
