Two-Unit Duplex Investment
For Sale
$590,000
2942 W MASTER STREET, Philadelphia, PA 19121
2019-built duplex with separate residences and one unit occupied by a long-term tenant.
Property Size1,952 SF
Days on Market105
Property Features for 2942 W MASTER STREET
General Information
Standard status
Active
Size
1,952 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,496
Building Details
Building Size
1,952 SF
Year Built
2019
Listing Agency:
Prestige Group Inc
Listed By:
Arun Philip · License #RS357925
(267) 401-4883
Source:
Patmckennarealtors
Added: May 23
Changed: Aug 28
Last Checked: Sep 2 at 1:10AM
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 Prestige Group Inc
Investment Insights
Based on property information with market context.
Built in 2019, this duplex contains two distinct residential units with spacious layouts and functional floor plans. One residence is occupied by a long-term tenant, while the separate-unit configuration provides flexibility for an owner-occupant or rental investor. A remaining tax abatement is also associated with the property.
The property is located in Philadelphia’s Brewerytown section near public transportation, Fairmount Park, Temple University, major highways, and neighborhood restaurants, cafés, and retail destinations. Its location provides access to established institutions, recreation, transportation, and everyday amenities.
The property is located in Philadelphia’s Brewerytown section near public transportation, Fairmount Park, Temple University, major highways, and neighborhood restaurants, cafés, and retail destinations. Its location provides access to established institutions, recreation, transportation, and everyday amenities.
Key Highlights
- Two separate residential units with spacious layouts
- Built in 2019
- One unit occupied by a long‑term tenant
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
$33,311
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
5.65%
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%
$666,220
$666.2K
Cap Rate 7%
$475,871
$475.9K
Cap Rate 9%
$370,122
$370.1K
Market Conditions
NOI Build-Up for 1,952 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
$50.4K $25.80/SF
− Vacancy
−$2.8K −$1.42/SF
EGI
$47.6K $24.38/SF
− OpEx
−$14.3K −$7.31/SF
NOI
$33.3K $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%
$666,220
Cap Rate 7%
$475,871
Cap Rate 9%
$370,122
Alternative Uses
Best Use
Multifamily LT 5
$475.9K
$416.4K – $555.2K
NOI $33,311 @ 7.0% cap · market cap 5.65%
Second Best
Apartment 5plus
$438.6K
$383.8K – $511.7K
NOI $30,704 @ 7.0% cap · market cap 5.20%
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
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,123
Businesses Nearby
Explore this area
Business Placement
Demographics for 19121, PA
41,799
Population
19,673
Households
2.1
Avg Household Size
28
Median Age
25%
College-Educated
84%
High-School Grad
2.4 sq mi
ZIP Area
17,416
Density / Sq Mi
$36,208
Median Household Income
$29,915
Median Earnings
$1,082
Median Rent
$250,100
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 - 2019-built duplex with separate residences and one unit occupied by a long-term tenant.
Where is this duplex located?
The property is located at 2942 W MASTER STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: Two separate residential units with spacious layouts; Built in 2019; One unit occupied by a long‑term tenant
