Duplex With Separate
For Sale
$415,000
3252 MILLER STREET, Philadelphia, PA 19134
Two residential units offer updated kitchens, in-unit laundry, central air, and separate utility meters.
Property Size1,312 SF
Price / SF$316.31
Days on Market15
Property Features for 3252 MILLER STREET
General Information
Standard status
Active
Size
1,312 SF
Property subtype
Duplex
Units
Unit Mix
1 x 2BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$34,800
Amenities
central air
in-unit laundry
Building Details
Year Built
1910
Buildings
1
Tenancy
Multi
Listing Agency:
RE/MAX One Realty
(856) 701-3512
Listed By:
William Avdula Ndreu · License #RS323422
(856) 701-3512
Source:
Cummingsrealtors
Added: Jul 28
Changed: Aug 11
Last Checked: Aug 11 at 5:45AM
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 RE/MAX One Realty
Investment Insights
Based on property information with market context.
This two-unit residential property includes a first-floor apartment with two bedrooms and two bathrooms and an upper-level apartment with two bedrooms and one bathroom. Both units are currently rented and include central air conditioning, individual utility meters, in-unit laundry, and kitchens equipped with stainless steel appliances.
The property also features brand-new windows, high-efficiency heating and air-conditioning systems, and LED lighting throughout. Built in 1910, it combines a traditional residential structure with updated mechanical and interior features. The property is located at 3252 Miller Street in Philadelphia, Pennsylvania.
The property also features brand-new windows, high-efficiency heating and air-conditioning systems, and LED lighting throughout. Built in 1910, it combines a traditional residential structure with updated mechanical and interior features. The property is located at 3252 Miller Street in Philadelphia, Pennsylvania.
Key Highlights
- Two‑unit property with a 2‑bedroom, 2‑bath first‑floor apartment and a 2‑bedroom, 1‑bath upper unit
- Both units are currently rented
- Separate utility meters serve 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
$22,389
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
5.39%
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%
$447,780
$447.8K
Cap Rate 7%
$319,843
$319.8K
Cap Rate 9%
$248,767
$248.8K
Market Conditions
NOI Build-Up for 1,312 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
$33.8K $25.80/SF
− Vacancy
−$1.9K −$1.42/SF
EGI
$32.0K $24.38/SF
− OpEx
−$9.6K −$7.31/SF
NOI
$22.4K $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%
$447,780
Cap Rate 7%
$319,843
Cap Rate 9%
$248,767
Alternative Uses
Best Use
Multifamily LT 5
$319.8K
$279.9K – $373.2K
NOI $22,389 @ 7.0% cap · market cap 5.39%
Second Best
Apartment 5plus
$294.8K
$258.0K – $344.0K
NOI $20,637 @ 7.0% cap · market cap 4.97%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,983
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer updated kitchens, in-unit laundry, central air, and separate utility meters.
Where is this duplex located?
The property is located at 3252 MILLER STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Two‑unit property with a 2‑bedroom, 2‑bath first‑floor apartment and a 2‑bedroom, 1‑bath upper unit; Both units are currently rented; Separate utility meters serve each unit
