Renovated Duplex with In-Unit
For Sale
$295,000
Pending
3053 N 8TH STREET, Philadelphia, PA 19133
Two leased units offer central air, updated systems, and modern finishes in a residential income property.
Property Size1,400 SF
Days on Market16
Property Features for 3053 N 8TH STREET
General Information
Standard status
Pending
Size
1,400 SF
Property subtype
Duplex
Zoning
RM-1
Financials
Cap Rate
9%
Gross Income
$34,188
Units
Unit Mix
1 x 2BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$1,334
Amenities
in-unit laundry
central air
Building Details
Building Size
1,400 SF
Year Built
1915
Buildings
1
Tenancy
Multi
Listing Agency:
Compass Pennsylvania, LLC
Listed By:
Nicholas Davis · License #RS375652
(215) 421-4627
Source:
Patmckennarealtors
Added: Aug 23
Changed: Sep 2
Last Checked: Sep 1 at 10:36PM
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 Compass Pennsylvania, LLC
Investment Insights
Based on property information with market context.
This approximately 1,400-square-foot duplex contains two renovated apartments. The first-floor residence has 2 bedrooms and 2 full bathrooms, while the second-floor residence includes 2 bedrooms and 1 full bathroom. Improvements include updated plumbing and electrical systems, new HVAC components, central air conditioning, forced-air heating, windows, luxury vinyl flooring, stainless steel GE appliances, and in-unit stainless steel GE washers and dryers. The property was built in 1915 and is legally zoned RM-1.
Both units are leased beginning September 1. The property is a five-minute walk from Broad Street and is near Lillian Marrero Library, Rivera Recreation Center, 12th & Cambria Recreation Center, Potter-Thomas Elementary School, and Clymer Elementary School. SEPTA bus stops are located at 6th Street & Cambria Street, 6th Street & Clearfield Street, and Germantown Avenue & Somerset Street.
Both units are leased beginning September 1. The property is a five-minute walk from Broad Street and is near Lillian Marrero Library, Rivera Recreation Center, 12th & Cambria Recreation Center, Potter-Thomas Elementary School, and Clymer Elementary School. SEPTA bus stops are located at 6th Street & Cambria Street, 6th Street & Clearfield Street, and Germantown Avenue & Somerset Street.
Key Highlights
- Approximately 1,400 square feet with two renovated residential units
- First‑floor 2‑bedroom, 2‑full‑bath unit and second‑floor 2‑bedroom, 1‑full‑bath unit
- Legally zoned RM‑1 and built in 1915
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
$23,891
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
8.10%
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%
$477,820
$477.8K
Cap Rate 7%
$341,300
$341.3K
Cap Rate 9%
$265,456
$265.5K
Market Conditions
NOI Build-Up for 1,400 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
$36.1K $25.80/SF
− Vacancy
−$2.0K −$1.42/SF
EGI
$34.1K $24.38/SF
− OpEx
−$10.2K −$7.31/SF
NOI
$23.9K $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%
$477,820
Cap Rate 7%
$341,300
Cap Rate 9%
$265,456
Alternative Uses
Best Use
Multifamily LT 5
$341.3K
$298.6K – $398.2K
NOI $23,891 @ 7.0% cap · market cap 8.10%
Second Best
Apartment 5plus
$314.6K
$275.3K – $367.0K
NOI $22,021 @ 7.0% cap · market cap 7.46%
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
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,725
Businesses Nearby
Explore this area
Business Placement
Demographics for 19133, PA
24,772
Population
10,766
Households
2.3
Avg Household Size
34
Median Age
7%
College-Educated
63%
High-School Grad
1.3 sq mi
ZIP Area
19,055
Density / Sq Mi
$31,756
Median Household Income
$26,563
Median Earnings
$919
Median Rent
$85,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two leased units offer central air, updated systems, and modern finishes in a residential income property.
Where is this duplex located?
The property is located at 3053 N 8TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Approximately 1,400 square feet with two renovated residential units; First‑floor 2‑bedroom, 2‑full‑bath unit and second‑floor 2‑bedroom, 1‑full‑bath unit; Legally zoned RM‑1 and built in 1915
