Renovated Duplex with Two
For Sale
$224,000
34 N FRAZIER STREET, Philadelphia, PA 19139
Two occupied units offer one- and two-bedroom layouts with separate kitchens.
Property Size1,020 SF
Days on Market236
Property Features for 34 N FRAZIER STREET
General Information
Standard status
Active
Size
1,020 SF
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$21,480
Taxes and HOA fees
Annual Taxes
$1,942
Building Details
Building Size
1,020 SF
Year Built
1920
Year Renovated
2017
Listing Agency:
Silver and Oak Realty
Listed By:
Sascha Alexander Edelkraut
(267) 399-8043
Source:
Patmckennarealtors
Added: Jan 15
Changed: Sep 2
Last Checked: Sep 8 at 9:40AM
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 Silver and Oak Realty
Investment Insights
Based on property information with market context.
This two-unit residential property contains 1,020 square feet and is configured for separate living arrangements. The first-floor unit includes one bedroom, one full bathroom, and a kitchen, while the second-floor unit provides two bedrooms, one full bathroom, and its own kitchen. Both units are currently occupied.
Located at 34 N Frazier St in Philadelphia, the property was built in 1920 and underwent permitted renovations in 2017. The renovation work included plumbing, electrical systems, and HVAC, providing documented updates across key building systems.
The duplex offers a clearly defined unit mix with one one-bedroom residence and one two-bedroom residence, each supported by its own kitchen and bathroom.
Located at 34 N Frazier St in Philadelphia, the property was built in 1920 and underwent permitted renovations in 2017. The renovation work included plumbing, electrical systems, and HVAC, providing documented updates across key building systems.
The duplex offers a clearly defined unit mix with one one-bedroom residence and one two-bedroom residence, each supported by its own kitchen and bathroom.
Key Highlights
- Two‑unit duplex with both residences currently occupied
- 1,020 SF property with one one‑bedroom unit and one two‑bedroom unit
- Each unit includes its own kitchen and one full bathroom
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
$17,406
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
7.77%
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%
$348,120
$348.1K
Cap Rate 7%
$248,657
$248.7K
Cap Rate 9%
$193,400
$193.4K
Market Conditions
NOI Build-Up for 1,020 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
$26.3K $25.80/SF
− Vacancy
−$1.5K −$1.42/SF
EGI
$24.9K $24.38/SF
− OpEx
−$7.5K −$7.31/SF
NOI
$17.4K $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%
$348,120
Cap Rate 7%
$248,657
Cap Rate 9%
$193,400
Alternative Uses
Best Use
Multifamily LT 5
$248.7K
$217.6K – $290.1K
NOI $17,406 @ 7.0% cap · market cap 7.77%
Second Best
Apartment 5plus
$229.2K
$200.6K – $267.4K
NOI $16,044 @ 7.0% cap · market cap 7.16%
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
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,294
Businesses Nearby
Explore this area
Business Placement
Demographics for 19139, PA
43,281
Population
23,896
Households
1.8
Avg Household Size
36
Median Age
22%
College-Educated
86%
High-School Grad
1.8 sq mi
ZIP Area
24,045
Density / Sq Mi
$38,701
Median Household Income
$34,796
Median Earnings
$1,110
Median Rent
$118,700
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 occupied units offer one- and two-bedroom layouts with separate kitchens.
Where is this duplex located?
The property is located at 34 N FRAZIER STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $224,000.
What are key features of this property?
This property features: Two‑unit duplex with both residences currently occupied; 1,020 SF property with one one‑bedroom unit and one two‑bedroom unit; Each unit includes its own kitchen and one full bathroom
