Renovated Duplex with
New
For Sale
$340,000
3523 JASPER STREET, Philadelphia, PA 19134
Two updated residences feature central air, in-unit laundry, refreshed kitchens, and contemporary finishes.
Property Size1,684 SF
Days on Market6
Property Features for 3523 JASPER STREET
General Information
Standard status
Active
Size
1,684 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,765
Amenities
central air
in unit laundry
updated kitchen
private access to rear yard
full basement
Building Details
Building Size
1,684 SF
Year Built
1920
Buildings
1
Listing Agency:
Realty ONE Group Focus
Listed By:
Alexis C Matos · License #RS344022
(267) 242-7509
Source:
Patmckennarealtors
Added: Sep 11
Changed: Sep 13
Last Checked: Sep 15 at 9:50AM
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 Realty ONE Group Focus
Investment Insights
Based on property information with market context.
Built in 1920, this legal duplex contains two renovated residences, each arranged with two bedrooms and one full bathroom. Both units include central air, in-unit laundry, updated kitchens, and modern finishes. The first-floor residence also has private rear-yard access and use of the full basement for storage and additional functionality.
The renovation extended beyond the living spaces, with improvements to the roof, windows, exterior brick, plumbing, electrical systems, and sidewalks. The property is located in Philadelphia’s 19134 area, with access to Center City, neighborhood shopping, major highways, public transportation, and everyday amenities.
The renovation extended beyond the living spaces, with improvements to the roof, windows, exterior brick, plumbing, electrical systems, and sidewalks. The property is located in Philadelphia’s 19134 area, with access to Center City, neighborhood shopping, major highways, public transportation, and everyday amenities.
Key Highlights
- Legal two‑unit duplex with two bedrooms and one full bathroom per residence
- Renovated roof, windows, exterior brick, plumbing, electrical, and sidewalks
- Central air, in‑unit laundry, updated kitchens, and modern finishes in both units
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
$28,737
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
8.45%
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%
$574,740
$574.7K
Cap Rate 7%
$410,529
$410.5K
Cap Rate 9%
$319,300
$319.3K
Market Conditions
NOI Build-Up for 1,684 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
$43.4K $25.80/SF
− Vacancy
−$2.4K −$1.42/SF
EGI
$41.1K $24.38/SF
− OpEx
−$12.3K −$7.31/SF
NOI
$28.7K $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%
$574,740
Cap Rate 7%
$410,529
Cap Rate 9%
$319,300
Alternative Uses
Best Use
Multifamily LT 5
$410.5K
$359.2K – $479.0K
NOI $28,737 @ 7.0% cap · market cap 8.45%
Second Best
Apartment 5plus
$378.4K
$331.1K – $441.5K
NOI $26,489 @ 7.0% cap · market cap 7.79%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,131
Businesses Nearby
Explore this area
Business Placement
Demographics for 19134, PA
57,463
Population
25,290
Households
2.3
Avg Household Size
33
Median Age
18%
College-Educated
77%
High-School Grad
3.4 sq mi
ZIP Area
16,901
Density / Sq Mi
$41,849
Median Household Income
$35,858
Median Earnings
$1,179
Median Rent
$127,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two updated residences feature central air, in-unit laundry, refreshed kitchens, and contemporary finishes.
Where is this duplex located?
The property is located at 3523 JASPER STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Legal two‑unit duplex with two bedrooms and one full bathroom per residence; Renovated roof, windows, exterior brick, plumbing, electrical, and sidewalks; Central air, in‑unit laundry, updated kitchens, and modern finishes in both units
