Residential Income
For Sale
$209,900
Pending
3245 N 6TH STREET, Philadelphia, PA 19140
Traditional residential income property with central air, electric service, and an electric water heater.
Property Size1,172 SF
Days on Market67
Property Features for 3245 N 6TH STREET
General Information
Standard status
Pending
Size
1,172 SF
Property subtype
Residential Income
Zoning
RM1
Taxes and HOA fees
Annual Taxes
$1,073
Amenities
Central Air, Electric
Electric, Central
Electric Water Heater
On Street
Traditional
Building Details
Building Size
1,172 SF
Year Built
1925
Listing Agency:
Genstone Realty
(484) 576-7430
Listed By:
Christopher B Nelson · License #RS273327
(484) 576-7430
Source:
Evrealestate
Added: Jun 7
Changed: Aug 9
Last Checked: Aug 9 at 8:37AM
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 Genstone Realty
Investment Insights
Based on property information with market context.
This residential income property was built in 1925 and features a traditional exterior, central air, electric service, and an electric water heater. The property size is 1,172, with on-street parking identified among the exterior features.
The property is located at 3245 N 6TH STREET in Philadelphia, Pennsylvania, within Philadelphia County. The zoning designation is RM1.
The property is located at 3245 N 6TH STREET in Philadelphia, Pennsylvania, within Philadelphia County. The zoning designation is RM1.
Key Highlights
- 1,172 property size
- Built in 1925
- RM1 zoning
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
$18,435
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
8.78%
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%
$368,700
$368.7K
Cap Rate 7%
$263,357
$263.4K
Cap Rate 9%
$204,833
$204.8K
Market Conditions
NOI Build-Up for 1,172 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
$35.6K $30.36/SF
− Vacancy
−$2.1K −$1.76/SF
EGI
$33.5K $28.60/SF
− OpEx
−$15.1K −$12.87/SF
NOI
$18.4K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$368,700
Cap Rate 7%
$263,357
Cap Rate 9%
$204,833
Alternative Uses
Best Use
Apartment 5plus
$263.4K
$230.4K – $307.3K
NOI $18,435 @ 7.0% cap · market cap 8.78%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$285.7K
$250.0K – $333.3K
NOI $20,000 @ 7.0% cap · market cap 9.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,366
Businesses Nearby
Explore this area
Business Placement
Demographics for 19140, PA
52,124
Population
23,104
Households
2.3
Avg Household Size
36
Median Age
9%
College-Educated
73%
High-School Grad
3.2 sq mi
ZIP Area
16,289
Density / Sq Mi
$33,149
Median Household Income
$31,508
Median Earnings
$1,085
Median Rent
$101,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Traditional residential income property with central air, electric service, and an electric water heater.
Where is this residential income property located?
The property is located at 3245 N 6TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $209,900.
What are key features of this property?
This property features: 1,172 property size; Built in 1925; RM1 zoning
