Renovated
New
For Sale
$375,000
322 N 62nd St, Philadelphia, PA 19139
Separate utilities, central air, and updated kitchens and bathrooms are provided throughout.
Property Size1,880 SF
Price / SF$199.47
Days on Market2
Property Features for 322 N 62nd St
General Information
Standard status
Active
Size
1,880 SF
Property subtype
Multi-Family
Building Details
Year Built
1915
Listing Agency:
KW Empower
Listed By:
Stephen M Kennedy · License #RS330775
(215) 627-3500
Source:
Upgradebymichaud
Added: Sep 21
Last Checked: Sep 21 at 7:25AM
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 legal duplex contains two three-bedroom, one-bathroom units within 1,880 square feet. The property has undergone extensive renovation, including a new roof, windows, electrical system, plumbing, and appliances. Each unit offers a functional layout, spacious bedrooms, substantial closet storage, an updated kitchen, an updated bathroom, and central air. Separate utilities serve the units.
Exterior features include a front porch, large backyard, and ample street parking. Built in 1915, the property is located at 322 N 62nd St in Philadelphia, near public transportation, Routes 76 and 95, universities, hospitals, and Center City.
Exterior features include a front porch, large backyard, and ample street parking. Built in 1915, the property is located at 322 N 62nd St in Philadelphia, near public transportation, Routes 76 and 95, universities, hospitals, and Center City.
Key Highlights
- Legal duplex with two 3‑bedroom, 1‑bathroom units
- 1,880 square feet with separate utilities
- Renovations include roof, windows, electrical, plumbing, and appliances
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
$32,082
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
8.56%
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%
$641,640
$641.6K
Cap Rate 7%
$458,314
$458.3K
Cap Rate 9%
$356,467
$356.5K
Market Conditions
NOI Build-Up for 1,880 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
$48.5K $25.80/SF
− Vacancy
−$2.7K −$1.42/SF
EGI
$45.8K $24.38/SF
− OpEx
−$13.7K −$7.31/SF
NOI
$32.1K $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%
$641,640
Cap Rate 7%
$458,314
Cap Rate 9%
$356,467
Alternative Uses
Best Use
Multifamily LT 5
$458.3K
$401.0K – $534.7K
NOI $32,082 @ 7.0% cap · market cap 8.56%
Second Best
Apartment 5plus
$422.4K
$369.6K – $492.9K
NOI $29,571 @ 7.0% cap · market cap 7.89%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,627
Businesses Nearby
Explore this area
Business Placement
Demographics for 19139, PA
43,281
Population
23,896
Households
1.8
Avg Household Size
36
Median Age
22%
College-Educated
86%
High-School Grad
1.8 sq mi
ZIP Area
24,045
Density / Sq Mi
$38,701
Median Household Income
$34,796
Median Earnings
$1,110
Median Rent
$118,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate utilities, central air, and updated kitchens and bathrooms are provided throughout.
Where is this duplex located?
The property is located at 322 N 62nd St Philadelphia, PA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Legal duplex with two 3‑bedroom, 1‑bathroom units; 1,880 square feet with separate utilities; Renovations include roof, windows, electrical, plumbing, and appliances
