Renovated Duplex with Two
For Sale
$375,000
331 E HIGH ST, Philadelphia, PA 19144
Renovated two-unit property with central A/C, in-unit laundry, and hardwood floors.
Property Size1,650 SF
Price / SF$227.27
Days on Market48
Property Features for 331 E HIGH ST
General Information
Standard status
Active
Size
1,650 SF
Property subtype
Multi-family
Amenities
stainless steel appliances
washer/dryer
hardwood floors
central A/C
ceiling fans
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Tesla Realty Group, LLC
(844) 837-5274
Listed By:
Stephen L Stevens Jr.
(267) 971-2540
Source:
Hostetterrealty
Added: Aug 2
Changed: Sep 18
Last Checked: Sep 18 at 6:36AM
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 Tesla Realty Group, LLC
Investment Insights
Based on property information with market context.
This renovated duplex contains two matching residences, each offering 2 bedrooms and 1 bathroom. Both units feature stainless steel appliances, a washer and dryer, hardwood flooring, central A/C, ceiling fans, and ample closet and storage space. The first-floor residence is vacant, while the second-floor unit is occupied. Built in 1905, the property provides an owner-occupant configuration with one unit available for use and an existing occupant in the other.
The property is in Philadelphia’s Germantown section, near Awbury Arboretum, Morton Playground, and the shops, services, and eateries along Germantown Ave. Access to the Chestnut Hill East Line and SEPTA bus routes 23 and 81 adds public transportation connectivity.
The property is in Philadelphia’s Germantown section, near Awbury Arboretum, Morton Playground, and the shops, services, and eateries along Germantown Ave. Access to the Chestnut Hill East Line and SEPTA bus routes 23 and 81 adds public transportation connectivity.
Key Highlights
- Two‑unit duplex with matching 2BR/1BA layouts
- Renovated interiors with hardwood floors and stainless steel appliances
- Washer and dryer included in 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
$28,157
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
7.51%
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%
$563,140
$563.1K
Cap Rate 7%
$402,243
$402.2K
Cap Rate 9%
$312,856
$312.9K
Market Conditions
NOI Build-Up for 1,650 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
$42.6K $25.80/SF
− Vacancy
−$2.3K −$1.42/SF
EGI
$40.2K $24.38/SF
− OpEx
−$12.1K −$7.31/SF
NOI
$28.2K $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%
$563,140
Cap Rate 7%
$402,243
Cap Rate 9%
$312,856
Alternative Uses
Best Use
Multifamily LT 5
$402.2K
$352.0K – $469.3K
NOI $28,157 @ 7.0% cap · market cap 7.51%
Second Best
Apartment 5plus
$370.8K
$324.4K – $432.6K
NOI $25,954 @ 7.0% cap · market cap 6.92%
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
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,123
Businesses Nearby
Explore this area
Business Placement
Demographics for 19144, PA
44,481
Population
23,583
Households
1.9
Avg Household Size
37
Median Age
35%
College-Educated
90%
High-School Grad
3.6 sq mi
ZIP Area
12,356
Density / Sq Mi
$45,727
Median Household Income
$36,020
Median Earnings
$1,110
Median Rent
$224,600
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 - Renovated two-unit property with central A/C, in-unit laundry, and hardwood floors.
Where is this duplex located?
The property is located at 331 E HIGH ST Philadelphia, PA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two‑unit duplex with matching 2BR/1BA layouts; Renovated interiors with hardwood floors and stainless steel appliances; Washer and dryer included in each unit
