End-Unit Duplex with
For Sale
$300,000
3532-34 WELLINGTON STREET, Philadelphia, PA 19149
Two-level duplex with a vacant lower unit, month-to-month occupancy upstairs, and convenient access to transit and shopping.
Property Size1,088 SF
Price / SF$275.74
Days on Market49
Property Features for 3532-34 WELLINGTON STREET
General Information
Standard status
Active
Size
1,088 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Amenities
driveway parking
garage
gated side yard
Building Details
Year Built
1945
Listing Agency:
McCarthy Real Estate
(215) 867-4511
Listed By:
Joe McCarthy · License #RS307205
(267) 228-3950
Source:
Cummingsrealtors
Added: Jul 19
Changed: Sep 4
Last Checked: Sep 5 at 6:48AM
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 McCarthy Real Estate
Investment Insights
Based on property information with market context.
This 1,088-square-foot duplex, built in 1945, offers separate first- and second-floor living spaces. The lower unit is vacant, freshly painted, and includes an updated full bath and modern kitchen. The upper unit is occupied on a month-to-month basis, creating a flexible configuration for an owner-occupant or investor. The property also includes a rear driveway, garage, and gated side yard with room for a garden.
Located on Wellington Street in Philadelphia, the duplex is approximately one-half block from public transportation and near shopping and dining along Frankford Avenue. Mayfair Park and Pennypack Park are nearby, while the Tacony train stop provides access to the Trenton Line. I-95 offers regional connectivity, including routes toward Center City and New York.
Located on Wellington Street in Philadelphia, the duplex is approximately one-half block from public transportation and near shopping and dining along Frankford Avenue. Mayfair Park and Pennypack Park are nearby, while the Tacony train stop provides access to the Trenton Line. I-95 offers regional connectivity, including routes toward Center City and New York.
Key Highlights
- 1,088‑square‑foot duplex built in 1945
- Vacant first‑floor unit is freshly painted
- Updated full bath and modern kitchen in the lower unit
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
$15,493
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
5.16%
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%
$309,860
$309.9K
Cap Rate 7%
$221,329
$221.3K
Cap Rate 9%
$172,144
$172.1K
Market Conditions
NOI Build-Up for 1,088 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
$22.8K $21.00/SF
− Vacancy
−$715 −$0.66/SF
EGI
$22.1K $20.34/SF
− OpEx
−$6.6K −$6.10/SF
NOI
$15.5K $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%
$309,860
Cap Rate 7%
$221,329
Cap Rate 9%
$172,144
Alternative Uses
Best Use
Apartment 5plus
$2.08M
$1.82M – $2.43M
NOI $145,821 @ 7.0% cap · market cap 48.61%
Second Best
Multifamily LT 5
$221.3K
$193.7K – $258.2K
NOI $15,493 @ 7.0% cap · market cap 5.16%
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
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,547
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 - Two-level duplex with a vacant lower unit, month-to-month occupancy upstairs, and convenient access to transit and shopping.
Where is this duplex located?
The property is located at 3532-34 WELLINGTON STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 1,088‑square‑foot duplex built in 1945; Vacant first‑floor unit is freshly painted; Updated full bath and modern kitchen in the lower unit
