Triplex with Accessible
New
For Sale
$299,900
3224 TYSON AVENUE, Philadelphia, PA 19149
Residential income property with three living units and a basement level that accommodates handicap access.
Property Size1,872 SF
Price / SF$160.20
Days on Market4
Property Features for 3224 TYSON AVENUE
General Information
Standard status
Active
Size
1,872 SF
Property subtype
Duplex
Property Condition
Severity
Repairs Needed
Evidence
needs some work
Additional Details
Multifamily Units
3
Amenities
handicap accessible
Building Details
Year Built
1950
Listing Agency:
Canaan Realty Services INC
(215) 333-1826
Listed By:
Luna Ge · License #RS338550
(814) 933-9250
Source:
Cummingsrealtors
Added: Sep 1
Changed: Sep 3
Last Checked: Sep 2 at 4:28PM
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 Canaan Realty Services INC
Investment Insights
Based on property information with market context.
This Philadelphia triplex is configured as three residential units within a property built in 1950. The basement level is handicap accessible, adding functional flexibility to the existing layout. The property requires some work, allowing the next owner to update the interiors and building components according to their plans.
Located at 3224 Tyson Avenue in Philadelphia, the property is near shopping, dining, transportation, and everyday amenities. Its multi-unit configuration supports residential use with separate living arrangements and income-producing potential.
Located at 3224 Tyson Avenue in Philadelphia, the property is near shopping, dining, transportation, and everyday amenities. Its multi-unit configuration supports residential use with separate living arrangements and income-producing potential.
Key Highlights
- Three‑unit residential property configured as a triplex
- Handicap‑accessible basement level
- Built in 1950
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
$26,657
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
8.89%
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%
$533,140
$533.1K
Cap Rate 7%
$380,814
$380.8K
Cap Rate 9%
$296,189
$296.2K
Market Conditions
NOI Build-Up for 1,872 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
$39.3K $21.00/SF
− Vacancy
−$1.2K −$0.66/SF
EGI
$38.1K $20.34/SF
− OpEx
−$11.4K −$6.10/SF
NOI
$26.7K $14.24/SF
Area
ZIP 19149
Vacancy
3.13%
Lease Rate
$21.00 /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%
$533,140
Cap Rate 7%
$380,814
Cap Rate 9%
$296,189
Alternative Uses
Best Use
Apartment 5plus
$3.58M
$3.14M – $4.18M
NOI $250,897 @ 7.0% cap · market cap 83.66%
Second Best
Multifamily LT 5
$380.8K
$333.2K – $444.3K
NOI $26,657 @ 7.0% cap · market cap 8.89%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,543
Businesses Nearby
Explore this area
Business Placement
Demographics for 19149, PA
60,408
Population
20,810
Households
2.9
Avg Household Size
33
Median Age
15%
College-Educated
76%
High-School Grad
2.4 sq mi
ZIP Area
25,170
Density / Sq Mi
$54,679
Median Household Income
$33,111
Median Earnings
$1,484
Median Rent
$198,200
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?
Triplex - Residential income property with three living units and a basement level that accommodates handicap access.
Where is this triplex located?
The property is located at 3224 TYSON AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Three‑unit residential property configured as a triplex; Handicap‑accessible basement level; Built in 1950
