Renovated Residential Income
For Sale
$285,000
303 S 11TH STREET Unit 15, Philadelphia, PA 19107
Top-floor condo offers two bedrooms, in-unit laundry, central A/C, and an updated kitchen with quartz counters.
Property Size653 SF
Days on Market54
Property Features for 303 S 11TH STREET Unit 15
General Information
Standard status
Active
Size
653 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$4,199
Amenities
in-unit laundry
central A/C
hardwood floors
quartz counters
stainless steel appliances
dishwasher
tile backsplash
breakfast bar
Building Details
Building Size
653 SF
Year Built
1900
Listing Agency:
KW Empower
Listed By:
Bibe J Chin · License #RS306678
(267) 210-0489
Source:
Patmckennarealtors
Added: Jul 30
Changed: Sep 15
Last Checked: Sep 20 at 10:51AM
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.
This top-floor condominium in Philadelphia has been renovated with a practical two-bedroom, one-bathroom layout. The main living area features hardwood flooring, tall ceilings, and abundant natural light. Its kitchen includes gray shaker cabinets, quartz countertops, stainless steel appliances, a dishwasher, tile backsplash, and a breakfast bar. A separate open area adds flexibility for storage or a small table, while both bedrooms provide closet space. Stacked laundry is located within the unit, along with central A/C.
The property is in Washington Square West, with a Walk Score of 95 and proximity to Louis I. Kahn Park. Center City, restaurants, shops, markets, parks, Jefferson University, Pennsylvania Hospital, and public transit are all identified as nearby. The building dates to 1900, while the unit has updated interior finishes.
The property is in Washington Square West, with a Walk Score of 95 and proximity to Louis I. Kahn Park. Center City, restaurants, shops, markets, parks, Jefferson University, Pennsylvania Hospital, and public transit are all identified as nearby. The building dates to 1900, while the unit has updated interior finishes.
Key Highlights
- Renovated top‑floor condominium in Philadelphia
- Two bedrooms and 1 full bathroom
- Kitchen with quartz counters, stainless steel appliances, dishwasher, and breakfast bar
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
$10,271
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
3.60%
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%
$205,420
$205.4K
Cap Rate 7%
$146,729
$146.7K
Cap Rate 9%
$114,122
$114.1K
Market Conditions
NOI Build-Up for 653 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
$19.8K $30.36/SF
− Vacancy
−$1.1K −$1.76/SF
EGI
$18.7K $28.60/SF
− OpEx
−$8.4K −$12.87/SF
NOI
$10.3K $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%
$205,420
Cap Rate 7%
$146,729
Cap Rate 9%
$114,122
Alternative Uses
Best Use
Apartment 5plus
$146.7K
$128.4K – $171.2K
NOI $10,271 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$159.2K
$139.3K – $185.7K
NOI $11,143 @ 7.0% cap · market cap 3.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
23,668
Businesses Nearby
Explore this area
Business Placement
Demographics for 19107, PA
17,600
Population
10,239
Households
1.7
Avg Household Size
32
Median Age
72%
College-Educated
92%
High-School Grad
0.5 sq mi
ZIP Area
35,200
Density / Sq Mi
$70,382
Median Household Income
$57,694
Median Earnings
$1,691
Median Rent
$452,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Top-floor condo offers two bedrooms, in-unit laundry, central A/C, and an updated kitchen with quartz counters.
Where is this residential income property located?
The property is located at 303 S 11TH STREET Unit 15 Philadelphia, PA.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Renovated top‑floor condominium in Philadelphia; Two bedrooms and 1 full bathroom; Kitchen with quartz counters, stainless steel appliances, dishwasher, and breakfast bar
