Renovated Duplex with Bi-Level
For Sale
$319,900
3320 N PARK Avenue, Philadelphia, PA 19140
Multi-Family, PHILADELPHIA, PA
Property Size1,366 SF
Lot Size0.03 Acres
Price / SF$234.19
Days on Market18
Property Features for 3320 N PARK Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement, Dining Room
Parking features
On Street
Interior features
Ceiling Fan(s), Dining Area, Floor Plan - Open, Kitchen - Eat-In, Recessed Lighting, Skylight(s), Upgraded Countertops, Wood Floors
Appliances
Exhaust Fan, Refrigerator, Stove, Microwave, Stainless Steel Appliances, Washer/Dryer Hookups Only
Subdivision
TEMPLE UNIVERSITY
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active
Size
1,366 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
1208
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1940
Floors in Building
2
Number of units
2
Building materials
Masonry
Architectural style
Other
Listing Agency:
Quality Real Estate-Broad St
(215) 457-2600
Listed By:
Celenia Martinez · License #RS331750
(267) 694-0246
Added: Aug 17
Changed: Sep 2
Last Checked: Sep 3 at 9:06PM
MLS# PAPH2658708
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.
Investment Insights
Based on property information with market context.
This duplex contains two separate apartments within a 1,366-square-foot property renovated in 2023. The first-floor residence has two bedrooms and one-level living, while the upper apartment provides three bedrooms across a bi-level floor plan. Interior features include wood flooring, recessed lighting, upgraded countertops, an eat-in kitchen, dining area, skylights, ceiling fans, and central air. The building is constructed of masonry and heated by forced air. A welcoming front porch and on-street parking add to the property’s usable features.
The property is located in Philadelphia’s Temple University area, with access to nearby schools, medical services, shopping, dining, transportation, and everyday amenities. A 10-year tax abatement incentive is also associated with the home. The 0.0308-acre parcel is identified by the address 3320 N PARK Avenue, PHILADELPHIA, PA 19140.
The property is located in Philadelphia’s Temple University area, with access to nearby schools, medical services, shopping, dining, transportation, and everyday amenities. A 10-year tax abatement incentive is also associated with the home. The 0.0308-acre parcel is identified by the address 3320 N PARK Avenue, PHILADELPHIA, PA 19140.
Key Highlights
- Two‑apartment duplex renovated in 2023
- 1,366 square feet on a 0.0308‑acre parcel
- First‑floor unit has 2 bedrooms and one‑level living
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
$23,311
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
7.29%
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%
$466,220
$466.2K
Cap Rate 7%
$333,014
$333.0K
Cap Rate 9%
$259,011
$259.0K
Market Conditions
NOI Build-Up for 1,366 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
$35.2K $25.80/SF
− Vacancy
−$1.9K −$1.42/SF
EGI
$33.3K $24.38/SF
− OpEx
−$10.0K −$7.31/SF
NOI
$23.3K $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%
$466,220
Cap Rate 7%
$333,014
Cap Rate 9%
$259,011
Alternative Uses
Best Use
Multifamily LT 5
$333.0K
$291.4K – $388.5K
NOI $23,311 @ 7.0% cap · market cap 7.29%
Second Best
Apartment 5plus
$307.0K
$268.6K – $358.1K
NOI $21,487 @ 7.0% cap · market cap 6.72%
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
3,263
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
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 apartments include a one-level layout and a bi-level residence with updated interiors and central air.
Where is this duplex located?
The property is located at 3320 N PARK Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $319,900.
What are key features of this property?
This property features: Two‑apartment duplex renovated in 2023; 1,366 square feet on a 0.0308‑acre parcel; First‑floor unit has 2 bedrooms and one‑level living
