Renovated Duplex in
For Sale
$539,000
Pending
3601 Bandon Drive, Philadelphia, PA 19154
End-of-row duplex with modern renovations and private backyard.
Property Size1,368 SF
Days on Market86
Property Features for 3601 Bandon Drive
General Information
Standard status
Pending
Size
1,368 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RSA4
Taxes and HOA fees
Annual Taxes
$5,579
Amenities
No
Dryer In Unit, Washer In Unit
2+ Access Exits
https://www.homes.com/property/3601-bandon-dr-philadelphia-pa/mcy13mr66r9ve/?dk=xfx48f3g08lkw
No Pool
Building Details
Year Built
1972
Listing Agency:
EXP Realty, LLC
(484) 614-2185
Listed By:
Marzena Koperska · License #RS364431
(484) 614-2185
Source:
Compass
Added: May 20
Changed: Aug 8
Last Checked: Jul 24 at 12:15PM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
Located in the Parkwood subdivision, this end-of-row duplex has been renovated in 2024, blending traditional elegance with modern luxury. The upper unit features three bedrooms, including one with a private balcony overlooking the landscaped backyard, along with 1.5 bathrooms. The lower unit offers one bedroom, one full bathroom, and direct access to the backyard. Each unit has its own dedicated laundry room. Additional features include a new oversized driveway with parking for up to three vehicles, a large private backyard, a storage shed, and additional rear storage space behind the building. The renovation was completed under permits and in accordance with current building codes. The property is located in Philadelphia, within MLS Area 19154. A bus stop is located less than 1 mile away. The property is part of The School District of Philadelphia.
Key Highlights
- Fully renovated in 2024 with permits and to code
- Two separate units: a 3‑bedroom upper unit with a private balcony and a 1‑bedroom lower unit with direct backyard access
- Each unit has its own dedicated laundry room for convenience
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
$23,345
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
4.33%
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%
$466,900
$466.9K
Cap Rate 7%
$333,500
$333.5K
Cap Rate 9%
$259,389
$259.4K
Market Conditions
NOI Build-Up for 1,368 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
$35.3K $25.80/SF
− Vacancy
−$1.9K −$1.42/SF
EGI
$33.3K $24.38/SF
− OpEx
−$10.0K −$7.31/SF
NOI
$23.3K $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%
$466,900
Cap Rate 7%
$333,500
Cap Rate 9%
$259,389
Alternative Uses
Best Use
Multifamily LT 5
$333.5K
$291.8K – $389.1K
NOI $23,345 @ 7.0% cap · market cap 4.33%
Second Best
Apartment 5plus
$307.4K
$269.0K – $358.6K
NOI $21,518 @ 7.0% cap · market cap 3.99%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
841
Businesses Nearby
Explore this area
Business Placement
Demographics for 19154, PA
34,681
Population
13,296
Households
2.6
Avg Household Size
39
Median Age
27%
College-Educated
91%
High-School Grad
6.4 sq mi
ZIP Area
5,419
Density / Sq Mi
$93,479
Median Household Income
$50,969
Median Earnings
$1,396
Median Rent
$274,400
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 - End-of-row duplex with modern renovations and private backyard.
Where is this duplex located?
The property is located at 3601 Bandon Drive Philadelphia, PA.
What is the asking price?
The asking price for this property is $539,000.
What are key features of this property?
This property features: Fully renovated in 2024 with permits and to code; Two separate units: a 3‑bedroom upper unit with a private balcony and a 1‑bedroom lower unit with direct backyard access; Each unit has its own dedicated laundry room for convenience
