End Duplex with Attached
For Sale
$300,000
3532-34 WELLINGTON Street, Philadelphia, PA 19149
Multi-Family, PHILADELPHIA, PA
Property Size1,088 SF
Lot Size0.07 Acres
Price / SF$275.74
Days on Market21
Property Features for 3532-34 WELLINGTON Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
2
Parking features
Off Street, Driveway, Garage - Attached
Subdivision
MAYFAIR
Elementary school
FORREST EDWIN
Middle school
NORTHEAST COMMUNITY PROPEL ACADEMY
High school
LINCOLN ABRAHAM
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Standard status
Active
Size
1,088 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
3636
Utilities
Heating system
Other (Heating)
Cooling system
Window Unit(s)
Amenities
garage
gated side yard
Building Details
Year built
1945
Number of units
2
Building materials
Masonry
Architectural style
Tudor
Listing Agency:
McCarthy Real Estate
(215) 867-4511
Listed By:
Joe McCarthy · License #RS307205
(267) 228-3950
Added: Aug 11
Changed: Aug 19
Last Checked: Aug 31 at 7:06PM
MLS# PAPH2655478
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1945 Tudor-style duplex is constructed of masonry and contains 1,088 square feet. The first-floor unit is vacant and freshly painted, with an updated full bath and modern kitchen. The second-floor residence is tenant occupied on a month-to-month arrangement. The layout supports an owner-occupant seeking rental income from the other unit, as described in the property information.
A rear driveway, attached garage, and gated side yard provide practical outdoor features, with space for a garden. The property occupies 0.0739 acres and includes window-unit cooling and other heating. Public transportation is located approximately 1/2 block away, while shopping and restaurants along Frankford Ave are nearby. Mayfair Park, Pennypack Park, the Tacony train stop, and I-95 are also identified in the surrounding context.
A rear driveway, attached garage, and gated side yard provide practical outdoor features, with space for a garden. The property occupies 0.0739 acres and includes window-unit cooling and other heating. Public transportation is located approximately 1/2 block away, while shopping and restaurants along Frankford Ave are nearby. Mayfair Park, Pennypack Park, the Tacony train stop, and I-95 are also identified in the surrounding context.
Key Highlights
- Two‑unit Tudor‑style duplex built in 1945
- 1,088 square feet on 0.0739 acres
- First‑floor unit is vacant, freshly painted, and includes an updated full bath and modern kitchen
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
Single-tenant
Tenancy
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 - Masonry duplex with a vacant first-floor unit, an occupied second-floor residence, private parking, and a gated side yard.
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: Two‑unit Tudor‑style duplex built in 1945; 1,088 square feet on 0.0739 acres; First‑floor unit is vacant, freshly painted, and includes an updated full bath and modern kitchen
