Renovated Duplex with Finished
For Sale
$299,900
343 N 60th St, Philadelphia, PA 19139
Two apartments feature separate electric utility and mechanical systems, distinct layouts, and laundry hookups.
Property Size1,510 SF
Price / SF$198.61
Days on Market29
Property Features for 343 N 60th St
General Information
Standard status
Active
Size
1,510 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,018
Building Details
Buildings
1
Listing Agency:
Common Ground Realtors
(215) 987-6625
Listed By:
Karmen N Fails · License #AB069739
(215) 987-6625
Source:
Exprealty
Added: Jul 14
Changed: Aug 8
Last Checked: Aug 11 at 12:27PM
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 Common Ground Realtors
Investment Insights
Based on property information with market context.
This 1,510-square-foot duplex contains two separate apartments and has undergone renovation. The first-floor unit includes an open living area, peninsula kitchen, laundry hookup, bathroom, one bedroom, finished basement space, a half bathroom, and a small rear area. The second-floor apartment offers a kitchen, washer/dryer hookup, bathroom with an operable skylight, and a larger bedroom.
Electric utility and mechanical systems are separated between the apartments, allowing the second-floor systems to be serviced without entering the first-floor basement. The property is located at 343 N 60th St in Philadelphia’s Haddington section, with proximity to Center City and the Main Line. It is grandfathered in zoning as a duplex.
Electric utility and mechanical systems are separated between the apartments, allowing the second-floor systems to be serviced without entering the first-floor basement. The property is located at 343 N 60th St in Philadelphia’s Haddington section, with proximity to Center City and the Main Line. It is grandfathered in zoning as a duplex.
Key Highlights
- 1,510‑square‑foot duplex with two separate apartments
- Renovated first‑floor unit includes finished basement space and a half bathroom
- Second‑floor apartment features a larger bedroom and bathroom with operable skylight
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
$25,768
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
8.59%
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%
$515,360
$515.4K
Cap Rate 7%
$368,114
$368.1K
Cap Rate 9%
$286,311
$286.3K
Market Conditions
NOI Build-Up for 1,510 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
$39.0K $25.80/SF
− Vacancy
−$2.1K −$1.42/SF
EGI
$36.8K $24.38/SF
− OpEx
−$11.0K −$7.31/SF
NOI
$25.8K $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%
$515,360
Cap Rate 7%
$368,114
Cap Rate 9%
$286,311
Alternative Uses
Best Use
Multifamily LT 5
$368.1K
$322.1K – $429.5K
NOI $25,768 @ 7.0% cap · market cap 8.59%
Second Best
Apartment 5plus
$339.3K
$296.9K – $395.9K
NOI $23,752 @ 7.0% cap · market cap 7.92%
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
1,745
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 apartments feature separate electric utility and mechanical systems, distinct layouts, and laundry hookups.
Where is this duplex located?
The property is located at 343 N 60th St Philadelphia, PA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 1,510‑square‑foot duplex with two separate apartments; Renovated first‑floor unit includes finished basement space and a half bathroom; Second‑floor apartment features a larger bedroom and bathroom with operable skylight
