Renovated Duplex with Separate
For Sale
$269,900
343 N 60TH STREET, Philadelphia, PA 19139
Two apartments offer distinct layouts, private mechanical systems, and flexible owner-occupant or rental use.
Property Size1,160 SF
Days on Market9
Property Features for 343 N 60TH STREET
General Information
Standard status
Active
Size
1,160 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,857
Building Details
Building Size
1,160 SF
Year Built
1920
Buildings
1
Listing Agency:
Keller Williams Real Estate-Doylestown
Listed By:
Kimberley A Porter · License #RS281553
(267) 249-4991
Source:
Patmckennarealtors
Added: Aug 31
Changed: Sep 4
Last Checked: Sep 7 at 6:46AM
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 Keller Williams Real Estate-Doylestown
Investment Insights
Based on property information with market context.
Built in 1920, this renovated Philadelphia duplex contains two apartments with separate electric utilities and mechanical systems. A shared foyer with motion-activated lighting serves both residences. The first-floor unit combines an open living area with a peninsula kitchen, custom cabinetry, laundry hookup, full bath, and a spacious bedroom. It also includes a finished basement with a half bath, plus outdoor space. The upper apartment provides a bright living arrangement with a kitchen, washer and dryer hookup, full bath, skylight, and a generously sized bedroom.
The property is located at 343 N 60th Street in Philadelphia’s Haddington neighborhood of West Philadelphia, with access to Center City Philadelphia, University City, and the Main Line. The building is grandfathered as a duplex under its zoning status, supporting continued two-unit configuration.
The property is located at 343 N 60th Street in Philadelphia’s Haddington neighborhood of West Philadelphia, with access to Center City Philadelphia, University City, and the Main Line. The building is grandfathered as a duplex under its zoning status, supporting continued two-unit configuration.
Key Highlights
- Two‑unit duplex at 343 N 60th Street in Philadelphia, PA 19139
- Renovated interiors with separate electric utilities and mechanical systems
- First‑floor apartment includes finished basement, half bath, and outdoor space
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
$19,795
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
7.33%
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%
$395,900
$395.9K
Cap Rate 7%
$282,786
$282.8K
Cap Rate 9%
$219,944
$219.9K
Market Conditions
NOI Build-Up for 1,160 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
$29.9K $25.80/SF
− Vacancy
−$1.6K −$1.42/SF
EGI
$28.3K $24.38/SF
− OpEx
−$8.5K −$7.31/SF
NOI
$19.8K $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%
$395,900
Cap Rate 7%
$282,786
Cap Rate 9%
$219,944
Alternative Uses
Best Use
Multifamily LT 5
$282.8K
$247.4K – $329.9K
NOI $19,795 @ 7.0% cap · market cap 7.33%
Second Best
Apartment 5plus
$260.7K
$228.1K – $304.1K
NOI $18,246 @ 7.0% cap · market cap 6.76%
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 offer distinct layouts, private mechanical systems, and flexible owner-occupant or rental use.
Where is this duplex located?
The property is located at 343 N 60TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: Two‑unit duplex at 343 N 60th Street in Philadelphia, PA 19139; Renovated interiors with separate electric utilities and mechanical systems; First‑floor apartment includes finished basement, half bath, and outdoor space
