Three-Bedroom Three-Bath
For Sale
$400,000
2603 E HAGERT STREET Unit A, Philadelphia, PA 19125
Condominium unit with three bedrooms and three full bathrooms, open-concept living, central air, and in-unit laundry.
Property Size1,609 SF
Days on Market57
Property Features for 2603 E HAGERT STREET Unit A
General Information
Standard status
Active
Size
1,609 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$929
Amenities
central air
in-unit laundry
abundant storage
Building Details
Building Size
1,609 SF
Year Built
2017
Listing Agency:
KW Empower
Listed By:
Jayna Zoeiro
(215) 813-1322
Source:
Patmckennarealtors
Added: Jul 15
Changed: Sep 5
Last Checked: Sep 8 at 12:28PM
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 KW Empower
Investment Insights
Based on property information with market context.
Unit A at 2603 E Hagert Street is a three-bedroom, three-bath condominium with an open-concept living and dining area that flows into a designer kitchen. The kitchen features quartz countertops, custom cabinetry, stainless steel appliances, and a large center island. Interior finishes include wide-plank hardwood flooring and recessed lighting, with contemporary design elements throughout.
The unit also includes central air and in-unit laundry, along with abundant storage and ample closet space. The primary suite is positioned as a private retreat with an en-suite bathroom.
Located in Philadelphia’s Fishtown neighborhood, the home offers convenient access to Center City and I-95, with nearby public transportation and a range of neighborhood amenities including restaurants, cafes, breweries, boutique shopping, and parks.
The unit also includes central air and in-unit laundry, along with abundant storage and ample closet space. The primary suite is positioned as a private retreat with an en-suite bathroom.
Located in Philadelphia’s Fishtown neighborhood, the home offers convenient access to Center City and I-95, with nearby public transportation and a range of neighborhood amenities including restaurants, cafes, breweries, boutique shopping, and parks.
Key Highlights
- 3‑bedroom, 3‑bath condominium unit in Fishtown (Year built: 2017)
- Open‑concept living and dining area with recessed lighting
- Designer kitchen with quartz countertops, custom cabinetry, stainless steel appliances, and a large center island
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
$25,309
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
6.33%
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%
$506,180
$506.2K
Cap Rate 7%
$361,557
$361.6K
Cap Rate 9%
$281,211
$281.2K
Market Conditions
NOI Build-Up for 1,609 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
$48.8K $30.36/SF
− Vacancy
−$2.8K −$1.76/SF
EGI
$46.0K $28.60/SF
− OpEx
−$20.7K −$12.87/SF
NOI
$25.3K $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%
$506,180
Cap Rate 7%
$361,557
Cap Rate 9%
$281,211
Alternative Uses
Best Use
Apartment 5plus
$361.6K
$316.4K – $421.8K
NOI $25,309 @ 7.0% cap · market cap 6.33%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$392.2K
$343.2K – $457.6K
NOI $27,457 @ 7.0% cap · market cap 6.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,837
Businesses Nearby
Explore this area
Business Placement
Demographics for 19125, PA
25,325
Population
13,055
Households
1.9
Avg Household Size
34
Median Age
64%
College-Educated
94%
High-School Grad
1.4 sq mi
ZIP Area
18,089
Density / Sq Mi
$110,842
Median Household Income
$62,656
Median Earnings
$1,743
Median Rent
$373,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium unit with three bedrooms and three full bathrooms, open-concept living, central air, and in-unit laundry.
Where is this residential income property located?
The property is located at 2603 E HAGERT STREET Unit A Philadelphia, PA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 3‑bedroom, 3‑bath condominium unit in Fishtown (Year built: 2017); Open‑concept living and dining area with recessed lighting; Designer kitchen with quartz countertops, custom cabinetry, stainless steel appliances, and a large center island
