Two-Family Duplex
For Sale
$495,000
324 E GIRARD AVENUE, Philadelphia, PA 19125
Owner-occupied duplex with two apartments, including a bi-level unit and a finished multi-purpose room.
Property Size2,235 SF
Price / SF$221.48
Days on Market62
Property Features for 324 E GIRARD AVENUE
General Information
Standard status
Active
Size
2,235 SF
Property subtype
Duplex
Zoning
Office-Business and Professional; Residential-Household Living-Two Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1915
Stories
3
Tenancy
Multi
Listing Agency:
Leibovitz Real Estate, LLC
(215) 634-0800
Listed By:
Wayne Leibovitz · License #RM424488
(215) 852-9986
Source:
Cummingsrealtors
Added: Jul 13
Changed: Sep 10
Last Checked: Sep 11 at 8:08AM
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 Leibovitz Real Estate, LLC
Investment Insights
Based on property information with market context.
This owner-occupied duplex features a 1st floor apartment with a living room, dining room, full bathroom, and eat-in kitchen. The 2nd and 3rd floors comprise a large bi-level apartment with a living room, eat-in kitchen, two bedrooms, two full bathrooms, a large multi-purpose room, and a storage room. The property includes a full cement basement with separate heaters and water heaters, along with a hard-wired fire alarm system, and gas and electric meters.
Per the Department of Licenses and Inspections, the property is legally registered for use as “Office-Business and Professional; Residential-Household Living—Two Family.”
With its two distinct apartment levels and basement utilities, the property presents a practical two-family configuration for an owner-occupant or investor seeking a residential income setup.
Per the Department of Licenses and Inspections, the property is legally registered for use as “Office-Business and Professional; Residential-Household Living—Two Family.”
With its two distinct apartment levels and basement utilities, the property presents a practical two-family configuration for an owner-occupant or investor seeking a residential income setup.
Key Highlights
- Owner‑occupied duplex with two apartments, including a bi‑level unit and a finished multi‑purpose room
- 1915 building with a 1st‑floor apartment featuring living room, dining room, full bath, and eat‑in kitchen
- Bi‑level apartment has living room, eat‑in kitchen, two bedrooms, two full bathrooms, plus a large multi‑purpose room
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
$38,140
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
7.71%
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%
$762,800
$762.8K
Cap Rate 7%
$544,857
$544.9K
Cap Rate 9%
$423,778
$423.8K
Market Conditions
NOI Build-Up for 2,235 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
$57.7K $25.80/SF
− Vacancy
−$3.2K −$1.42/SF
EGI
$54.5K $24.38/SF
− OpEx
−$16.3K −$7.31/SF
NOI
$38.1K $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%
$762,800
Cap Rate 7%
$544,857
Cap Rate 9%
$423,778
Alternative Uses
Best Use
Multifamily LT 5
$544.9K
$476.8K – $635.7K
NOI $38,140 @ 7.0% cap · market cap 7.71%
Second Best
Apartment 5plus
$502.2K
$439.4K – $585.9K
NOI $35,155 @ 7.0% cap · market cap 7.10%
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
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,995
Businesses Nearby
Explore this area
Business Placement
Demographics for 19125, PA
25,325
Population
13,055
Households
1.9
Avg Household Size
34
Median Age
64%
College-Educated
94%
High-School Grad
1.4 sq mi
ZIP Area
18,089
Density / Sq Mi
$110,842
Median Household Income
$62,656
Median Earnings
$1,743
Median Rent
$373,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Owner-occupied duplex with two apartments, including a bi-level unit and a finished multi-purpose room.
Where is this duplex located?
The property is located at 324 E GIRARD AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Owner‑occupied duplex with two apartments, including a bi‑level unit and a finished multi‑purpose room; 1915 building with a 1st‑floor apartment featuring living room, dining room, full bath, and eat‑in kitchen; Bi‑level apartment has living room, eat‑in kitchen, two bedrooms, two full bathrooms, plus a large multi‑purpose room
