Renovated Duplex With
New
For Sale
$240,000
3150 EMERALD Street, Philadelphia, PA 19134
Multi-Family, PHILADELPHIA, PA
Property Size1,023 SF
Lot Size0.03 Acres
Price / SF$234.60
Days on Market5
Property Features for 3150 EMERALD Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
On Street
Subdivision
KENSINGTON
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
1,023 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
1567
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
central air conditioning
in-unit washer/dryer
full basement
huge backyard
Building Details
Year built
1920
Number of units
2
Building materials
Masonry
Architectural style
Contemporary
Listing Agency:
RE/MAX Access · RE/MAX International
(215) 400-2600
Listed By:
Ryan F Gallagher · License #RS287305
(215) 313-2206
Added: Sep 23
Last Checked: Sep 27 at 3:06PM
MLS# PAPH2673524
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This masonry duplex contains two one-bedroom units within a 1,023-square-foot building constructed in 1920. Renovations completed in 2022/23 included the brick façade, heating systems, central air conditioning, kitchens, bathrooms, drywall, trim, doors, and interior paint. Each unit has separate gas and electric service, its own washer and dryer, and access to a full basement containing storage and mechanical areas. Two Bradford White electric water heaters serve the property.
The parcel encompasses 0.0276 acres at 3150 Emerald Street in Philadelphia’s 19134 ZIP code. The property offers a large backyard reached from Unit 1 through a breezeway, while parking is provided on the street. Unit 1 is leased, and Unit 2 is vacant after a prior lease. Public transportation is located nearby.
The parcel encompasses 0.0276 acres at 3150 Emerald Street in Philadelphia’s 19134 ZIP code. The property offers a large backyard reached from Unit 1 through a breezeway, while parking is provided on the street. Unit 1 is leased, and Unit 2 is vacant after a prior lease. Public transportation is located nearby.
Key Highlights
- Two‑unit masonry duplex with 1,023 SF of building area
- Renovations completed in 2022/23, including kitchens, baths, HVAC, façade, and interior finishes
- Separate gas and electric service for each unit
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
$17,457
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
7.27%
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%
$349,140
$349.1K
Cap Rate 7%
$249,386
$249.4K
Cap Rate 9%
$193,967
$194.0K
Market Conditions
NOI Build-Up for 1,023 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
$26.4K $25.80/SF
− Vacancy
−$1.5K −$1.42/SF
EGI
$24.9K $24.38/SF
− OpEx
−$7.5K −$7.31/SF
NOI
$17.5K $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%
$349,140
Cap Rate 7%
$249,386
Cap Rate 9%
$193,967
Alternative Uses
Best Use
Multifamily LT 5
$249.4K
$218.2K – $291.0K
NOI $17,457 @ 7.0% cap · market cap 7.27%
Second Best
Apartment 5plus
$229.9K
$201.1K – $268.2K
NOI $16,091 @ 7.0% cap · market cap 6.70%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,458
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Updated two-unit property with separate utilities, in-unit laundry, central air, and a private rear yard.
Where is this duplex located?
The property is located at 3150 EMERALD Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Two‑unit masonry duplex with 1,023 SF of building area; Renovations completed in 2022/23, including kitchens, baths, HVAC, façade, and interior finishes; Separate gas and electric service for each unit
