Two-Unit Duplex with Separate
For Sale
$265,000
2641 E MADISON STREET, Philadelphia, PA 19134
Fully rented property with two one-bedroom residences and separate utility services.
Property Size1,405 SF
Days on Market121
Property Features for 2641 E MADISON STREET
General Information
Standard status
Active
Size
1,405 SF
Property subtype
Duplex
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,737
Amenities
shared outdoor space
laundry
Building Details
Building Size
1,405 SF
Year Built
1910
Buildings
1
Tenancy
Multi
Listing Agency:
JG Real Estate LLC
(215) 313-1512
Listed By:
Yadira Toledo · License #RS338110
(215) 313-1512
Source:
Lizclarkrealestate
Added: Apr 14
Changed: Aug 9
Last Checked: Aug 11 at 1:17PM
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 JG Real Estate LLC
Investment Insights
Based on property information with market context.
This 1910 duplex contains two tenant-occupied one-bedroom, one-bath residences, each with its own entrance and separate utilities. The first-floor apartment includes an updated eat-in kitchen, 3-piece bathroom, high ceilings, large windows, living area, rear bedroom, and flexible space suitable for an office nook or storage. Basement access provides laundry and additional storage.
The upper residence is accessed privately from the shared patio and offers an eat-in kitchen, bedroom, living room, full bathroom, and in-unit laundry. Both apartments share the outdoor space. The property is located near I-95, with access to Center City and the shops and dining in Port Richmond and nearby Fishtown.
The upper residence is accessed privately from the shared patio and offers an eat-in kitchen, bedroom, living room, full bathroom, and in-unit laundry. Both apartments share the outdoor space. The property is located near I-95, with access to Center City and the shops and dining in Port Richmond and nearby Fishtown.
Key Highlights
- Two tenant‑occupied one‑bedroom, one‑bath units
- Separate entrances and utility services for each residence
- First‑floor unit features an updated eat‑in kitchen and 3‑piece bathroom
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
$23,976
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
9.05%
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%
$479,520
$479.5K
Cap Rate 7%
$342,514
$342.5K
Cap Rate 9%
$266,400
$266.4K
Market Conditions
NOI Build-Up for 1,405 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
$36.2K $25.80/SF
− Vacancy
−$2.0K −$1.42/SF
EGI
$34.3K $24.38/SF
− OpEx
−$10.3K −$7.31/SF
NOI
$24.0K $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%
$479,520
Cap Rate 7%
$342,514
Cap Rate 9%
$266,400
Alternative Uses
Best Use
Multifamily LT 5
$342.5K
$299.7K – $399.6K
NOI $23,976 @ 7.0% cap · market cap 9.05%
Second Best
Apartment 5plus
$315.7K
$276.3K – $368.3K
NOI $22,100 @ 7.0% cap · market cap 8.34%
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
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,918
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
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 - Fully rented property with two one-bedroom residences and separate utility services.
Where is this duplex located?
The property is located at 2641 E MADISON STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Two tenant‑occupied one‑bedroom, one‑bath units; Separate entrances and utility services for each residence; First‑floor unit features an updated eat‑in kitchen and 3‑piece bathroom
