Remodeled Three-Story
For Sale
$459,500
3843 Baring St, Philadelphia, PA 19104
Updated residential income property with two units, refreshed kitchens, central air, and laundry equipment.
Property Size2,088 SF
Price / SF$220.07
Days on Market16
Property Features for 3843 Baring St
General Information
Standard status
Active
Size
2,088 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/2BA, 1 x 4BR/2BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Building Details
Year Built
1930
Buildings
1
Stories
3
Listing Agency:
Triamond Realty
Listed By:
Suqing Fan · License #RS304225
(267) 243-1892
Source:
Upgradebymichaud
Added: Aug 20
Changed: Sep 4
Last Checked: Sep 1 at 8:59PM
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 Triamond Realty
Investment Insights
Based on property information with market context.
This three-story duplex at 3843 Baring St includes 2,088 square feet of residential space and was built in 1930. The first-floor unit offers 2 bedrooms and 2 full bathrooms, while the second unit provides 4 bedrooms and 2 full bathrooms. Recent improvements include new central air, laminate flooring, partial drywall replacement, fresh paint, two renovated kitchens with white cabinetry and granite countertops, new stoves and refrigerators, and new washers and dryers. High ceilings and numerous windows add to the interior character.
The property is located in Philadelphia’s Powelton Village, within walking distance of Drexel University, the University of Pennsylvania, and SEPTA bus service. The two-unit layout supports separate residential occupancy within the building.
The property is located in Philadelphia’s Powelton Village, within walking distance of Drexel University, the University of Pennsylvania, and SEPTA bus service. The two-unit layout supports separate residential occupancy within the building.
Key Highlights
- 2,088 SF duplex with three‑story configuration
- Two residential units: 2 bedrooms/2 full bathrooms and 4 bedrooms/2 full bathrooms
- Built in 1930 and recently remodeled
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
$35,631
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
7.75%
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%
$712,620
$712.6K
Cap Rate 7%
$509,014
$509.0K
Cap Rate 9%
$395,900
$395.9K
Market Conditions
NOI Build-Up for 2,088 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
$53.9K $25.80/SF
− Vacancy
−$3.0K −$1.42/SF
EGI
$50.9K $24.38/SF
− OpEx
−$15.3K −$7.31/SF
NOI
$35.6K $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%
$712,620
Cap Rate 7%
$509,014
Cap Rate 9%
$395,900
Alternative Uses
Best Use
Multifamily LT 5
$509.0K
$445.4K – $593.9K
NOI $35,631 @ 7.0% cap · market cap 7.75%
Second Best
Apartment 5plus
$469.2K
$410.5K – $547.4K
NOI $32,843 @ 7.0% cap · market cap 7.15%
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
Location Intelligence
Trade Area within ½ mile
5,317
Businesses Nearby
Explore this area
Business Placement
Demographics for 19104, PA
56,839
Population
23,888
Households
2.4
Avg Household Size
26
Median Age
47%
College-Educated
90%
High-School Grad
3.1 sq mi
ZIP Area
18,335
Density / Sq Mi
$39,526
Median Household Income
$18,420
Median Earnings
$1,329
Median Rent
$268,200
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 - Updated residential income property with two units, refreshed kitchens, central air, and laundry equipment.
Where is this duplex located?
The property is located at 3843 Baring St Philadelphia, PA.
What is the asking price?
The asking price for this property is $459,500.
What are key features of this property?
This property features: 2,088 SF duplex with three‑story configuration; Two residential units: 2 bedrooms/2 full bathrooms and 4 bedrooms/2 full bathrooms; Built in 1930 and recently remodeled
