Recently Renovated
For Sale
$425,000
Pending
3281 RED LION ROAD, Philadelphia, PA 19114
Two matching two-bedroom units feature updated interiors, private outdoor areas, and dedicated parking.
Property Size1,116 SF
Days on Market10
Property Features for 3281 RED LION ROAD
General Information
Standard status
Pending
Size
1,116 SF
Total Parking Spaces
2
Property subtype
Duplex
Units
Unit Mix
2 x 2bd/1ba
Multifamily Units
2
Building Details
Year Built
1974
Listing Agency:
Keller Williams Main Line
(610) 520-0100
Listed By:
Daniel Tae Kim · License #RS342404
(267) 231-0061
Source:
Cummingsrealtors
Added: Aug 29
Changed: Sep 3
Last Checked: Sep 2 at 6:20PM
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 Keller Williams Main Line
Investment Insights
Based on property information with market context.
Built in 1974, this duplex contains two similarly configured residences, each with two bedrooms and one bathroom. Recent rehabilitation brought granite countertops, white shaker cabinetry, stainless steel appliances, luxury vinyl plank flooring, and recessed LED lighting to the interiors. Unit 2 adds an in-unit washer and dryer plus a private balcony, while Unit 1 offers access to a private backyard.
The property is located at 3281 Red Lion Road in Philadelphia, PA 19114. Unit 1 is occupied by a long-term tenant with a lease ending in February; Unit 2 is vacant and currently offered for rent. Two dedicated parking spaces are positioned in front of the building.
The property is located at 3281 Red Lion Road in Philadelphia, PA 19114. Unit 1 is occupied by a long-term tenant with a lease ending in February; Unit 2 is vacant and currently offered for rent. Two dedicated parking spaces are positioned in front of the building.
Key Highlights
- Duplex with two 2bd/1ba units
- Recently rehabbed interiors with granite countertops, white shaker cabinets, and stainless steel appliances
- Unit 2 includes an in‑unit washer and dryer and private outdoor balcony
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
$19,044
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
4.48%
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%
$380,880
$380.9K
Cap Rate 7%
$272,057
$272.1K
Cap Rate 9%
$211,600
$211.6K
Market Conditions
NOI Build-Up for 1,116 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
$28.8K $25.80/SF
− Vacancy
−$1.6K −$1.42/SF
EGI
$27.2K $24.38/SF
− OpEx
−$8.2K −$7.31/SF
NOI
$19.0K $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%
$380,880
Cap Rate 7%
$272,057
Cap Rate 9%
$211,600
Alternative Uses
Best Use
Multifamily LT 5
$272.1K
$238.1K – $317.4K
NOI $19,044 @ 7.0% cap · market cap 4.48%
Second Best
Apartment 5plus
$250.8K
$219.4K – $292.6K
NOI $17,554 @ 7.0% cap · market cap 4.13%
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
Location Intelligence
Trade Area within ½ mile
461
Businesses Nearby
Explore this area
Business Placement
Demographics for 19114, PA
32,645
Population
14,703
Households
2.2
Avg Household Size
43
Median Age
30%
College-Educated
91%
High-School Grad
5.6 sq mi
ZIP Area
5,829
Density / Sq Mi
$76,076
Median Household Income
$48,257
Median Earnings
$1,369
Median Rent
$276,400
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 matching two-bedroom units feature updated interiors, private outdoor areas, and dedicated parking.
Where is this duplex located?
The property is located at 3281 RED LION ROAD Philadelphia, PA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Duplex with two 2bd/1ba units; Recently rehabbed interiors with granite countertops, white shaker cabinets, and stainless steel appliances; Unit 2 includes an in‑unit washer and dryer and private outdoor balcony
