Updated First-Floor Duplex
For Sale
$299,900
3515 Englewood Street, Philadelphia, PA 19149
Recently updated first-floor unit with new kitchen, flooring, paint, and light fixtures, plus a second rental unit.
Property Size1,292 SF
Price / SF$232.12
Days on Market411
Property Features for 3515 Englewood Street
General Information
Standard status
Active
Size
1,292 SF
Total Parking Spaces
1
Property subtype
Multi-Family / Fee Simple
Zoning
RSA5
Occupancy
50%
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,729
Amenities
No
No Pool
Above Grade, Below Grade
Building Details
Year Built
1950
Tenancy
Multi
Listing Agency:
Canaan Realty Investment Group
Listed By:
Mike H Xiao · License #RS280882
(215) 333-1826
Source:
Compass
Added: Jul 24, 2025
Changed: Aug 8
Last Checked: Jul 21 at 5:36AM
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 Canaan Realty Investment Group
Investment Insights
Based on property information with market context.
This recently updated first-floor duplex unit features a new kitchen, new flooring, new interior painting, and new light fixtures. The property is configured as an owner-occupant setup with a second unit that is rented, creating a practical live-in plus rental arrangement.
The property is located in Philadelphia County within the Philadelphia City School District. The listing notes the second unit is rented for $1,050 per month.
Total property size is reported as 1,292.
The property is located in Philadelphia County within the Philadelphia City School District. The listing notes the second unit is rented for $1,050 per month.
Total property size is reported as 1,292.
Key Highlights
- Recently updated first‑floor unit with a new kitchen, new flooring, new painting, and new light fixtures
- Building has both above‑grade and below‑grade additional structures
- Second unit is currently rented for $1,050 per month
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
$18,398
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
6.13%
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%
$367,960
$368.0K
Cap Rate 7%
$262,829
$262.8K
Cap Rate 9%
$204,422
$204.4K
Market Conditions
NOI Build-Up for 1,292 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
$27.1K $21.00/SF
− Vacancy
−$849 −$0.66/SF
EGI
$26.3K $20.34/SF
− OpEx
−$7.9K −$6.10/SF
NOI
$18.4K $14.24/SF
Area
ZIP 19149
Vacancy
3.13%
Lease Rate
$21.00 /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%
$367,960
Cap Rate 7%
$262,829
Cap Rate 9%
$204,422
Alternative Uses
Best Use
Apartment 5plus
$2.47M
$2.16M – $2.89M
NOI $173,162 @ 7.0% cap · market cap 57.74%
Second Best
Multifamily LT 5
$262.8K
$230.0K – $306.6K
NOI $18,398 @ 7.0% cap · market cap 6.13%
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
50%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,458
Businesses Nearby
Explore this area
Business Placement
Demographics for 19149, PA
60,408
Population
20,810
Households
2.9
Avg Household Size
33
Median Age
15%
College-Educated
76%
High-School Grad
2.4 sq mi
ZIP Area
25,170
Density / Sq Mi
$54,679
Median Household Income
$33,111
Median Earnings
$1,484
Median Rent
$198,200
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 - Recently updated first-floor unit with new kitchen, flooring, paint, and light fixtures, plus a second rental unit.
Where is this duplex located?
The property is located at 3515 Englewood Street 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: Recently updated first‑floor unit with a new kitchen, new flooring, new painting, and new light fixtures; Building has both above‑grade and below‑grade additional structures; Second unit is currently rented for $1,050 per month
