Renovated Legal
New
For Sale
$500,000
3643 RICHMOND STREET, Philadelphia, PA 19134
Two residential units feature contemporary finishes and a finished basement.
Property Size2,400 SF
Days on Market4
Property Features for 3643 RICHMOND STREET
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Duplex
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,234
Building Details
Building Size
2,400 SF
Year Built
1920
Listing Agency:
Honest Real Estate
Listed By:
Felipe Sevilla · License #RS350961
(929) 366-7121
Source:
Patmckennarealtors
Added: Oct 7
Changed: Oct 10
Last Checked: Oct 10 at 2:26AM
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 Honest Real Estate
Investment Insights
Based on property information with market context.
This legal duplex, built in 1920, has undergone renovation and includes a finished basement. Both units have European-style cabinetry, granite countertops, recessed lighting, ceiling speaker systems, and engineered hardwood flooring. Updates also include a new roof and new utilities. A 10-year tax abatement is in place.
The property is within walking distance of Target, Home Depot, ShopRite, Applebee’s, and public transportation.
The property is within walking distance of Target, Home Depot, ShopRite, Applebee’s, and public transportation.
Key Highlights
- Legal duplex with two residential units
- 10‑year tax abatement
- Finished basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,956
Cap Rate
8.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$819,120
$819.1K
Cap Rate 7%
$585,086
$585.1K
Cap Rate 9%
$455,067
$455.1K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$61.9K $25.80/SF
− Vacancy
−$3.4K −$1.42/SF
EGI
$58.5K $24.38/SF
− OpEx
−$17.6K −$7.31/SF
NOI
$41.0K $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 Rate 5%
$819,120
Cap Rate 7%
$585,086
Cap Rate 9%
$455,067
Alternative Uses
Best Use
Multifamily LT 5
$585.1K
$512.0K – $682.6K
NOI $40,956 @ 7.0% cap · market cap 8.19%
Second Best
Apartment 5plus
$539.3K
$471.9K – $629.2K
NOI $37,751 @ 7.0% cap · market cap 7.55%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,057
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature contemporary finishes and a finished basement.
Where is this duplex located?
The property is located at 3643 RICHMOND STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Legal duplex with two residential units; 10‑year tax abatement; Finished basement
