Two-Unit Duplex with
For Sale
$450,000
3281 RED LION Road, Philadelphia, PA 19114
Multi-Family, PHILADELPHIA, PA
Property Size1,116 SF
Lot Size0.06 Acres
Price / SF$403.23
Days on Market55
Property Features for 3281 RED LION Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
2
Parking features
Driveway
Subdivision
MORRELL PARK
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
1,116 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
5452
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
in-unit washer/dryer
private outdoor balcony
private backyard access
Building Details
Year built
1974
Number of units
2
Building materials
Masonry
Architectural style
Other
Listing Agency:
Keller Williams Main Line · Keller Williams Realty
(610) 520-0100
Listed By:
Daniel Tae Kim · License #RS342404
(267) 231-0061
Added: Aug 29
Changed: Sep 30
Last Checked: Oct 22 at 6:06AM
MLS# PAPH2665064
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This masonry duplex contains 1,116 square feet across two residences, each configured with two bedrooms and one bathroom. Unit 2 has a private balcony, in-unit washer and dryer, granite kitchen counters, stainless steel appliances, white shaker cabinetry, luxury vinyl plank flooring, and recessed LED lighting. Unit 1 provides access to a private backyard and is described as being in good condition, though its finishes are more dated than Unit 2. The building was rehabilitated about a year before the listing remarks were written and has central heating and air conditioning.
The 0.06-acre property was built in 1974 and includes two driveway parking spaces, one assigned to each unit. Unit 1 is occupied by a long-term tenant; Unit 2 was leased on a 12-month term beginning 9/27/26. Listing underwriting estimates a 6.5% cap rate using a 25% gross-income expense reserve.
The 0.06-acre property was built in 1974 and includes two driveway parking spaces, one assigned to each unit. Unit 1 is occupied by a long-term tenant; Unit 2 was leased on a 12-month term beginning 9/27/26. Listing underwriting estimates a 6.5% cap rate using a 25% gross-income expense reserve.
Key Highlights
- Two 2‑bedroom/1‑bath units in a 1,116‑square‑foot duplex
- Unit 2 includes a private balcony, washer and dryer, and updated kitchen finishes
- Unit 1 has private backyard access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,044
Cap Rate
4.23%
Suggested Prices Based on Cap Rates
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
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 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 4.23%
Second Best
Apartment 5plus
$250.8K
$219.4K – $292.6K
NOI $17,554 @ 7.0% cap · market cap 3.90%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
461
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers two bedrooms and one bath, with private outdoor space and a dedicated driveway parking spot.
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 $450,000.
What are key features of this property?
This property features: Two 2‑bedroom/1‑bath units in a 1,116‑square‑foot duplex; Unit 2 includes a private balcony, washer and dryer, and updated kitchen finishes; Unit 1 has private backyard access
