Corner Duplex with Bonus
For Sale
$269,000
3945 Claridge St, Philadelphia, PA 19124
Two-unit residential property with separate utilities, shared laundry facilities, and a converted garage featuring a full bathroom.
Property Size1,400 SF
Price / SF$192.14
Days on Market34
Property Features for 3945 Claridge St
General Information
Standard status
Active
Size
1,400 SF
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Amenities
shared utility room and laundry area
common foyer entry
front cement patio
Building Details
Year Built
1965
Listing Agency:
Realty Mark Associates
(267) 250-8489
Listed By:
Francisco Michaud · License #RS342767
Source:
Bethsamberg
Added: Jul 28
Changed: Aug 28
Last Checked: Aug 29 at 12:12PM
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 Realty Mark Associates
Investment Insights
Based on property information with market context.
This 1,400-square-foot duplex was built in 1965 and occupies a corner location. The property includes two residential units, separate utilities, a common foyer, and a shared utility and laundry area with a toilet and sink. The converted garage adds a bonus room and full bathroom. Each unit has its own heater, while three hot water heaters serve the property.
Interior features include living rooms, eat-in kitchens with gas ranges, stainless steel sinks, ceramic tile flooring, laminate counters, and vinyl windows. Exterior features include a front concrete patio, a small rear driveway, and street parking. The property is located at 3945 Claridge St in Philadelphia, PA 19124.
Interior features include living rooms, eat-in kitchens with gas ranges, stainless steel sinks, ceramic tile flooring, laminate counters, and vinyl windows. Exterior features include a front concrete patio, a small rear driveway, and street parking. The property is located at 3945 Claridge St in Philadelphia, PA 19124.
Key Highlights
- 1,400 SF duplex on a corner property, built in 1965
- Two residential units with separate utilities
- Converted garage provides a bonus room and full bathroom
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
$18,040
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
6.71%
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%
$360,800
$360.8K
Cap Rate 7%
$257,714
$257.7K
Cap Rate 9%
$200,444
$200.4K
Market Conditions
NOI Build-Up for 1,400 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
$27.7K $19.80/SF
− Vacancy
−$1.9K −$1.39/SF
EGI
$25.8K $18.41/SF
− OpEx
−$7.7K −$5.52/SF
NOI
$18.0K $12.89/SF
Area
ZIP 19124
Vacancy
7.03%
Lease Rate
$19.80 /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%
$360,800
Cap Rate 7%
$257,714
Cap Rate 9%
$200,444
Alternative Uses
Best Use
Multifamily LT 5
$257.7K
$225.5K – $300.7K
NOI $18,040 @ 7.0% cap · market cap 6.71%
Second Best
Apartment 5plus
$237.1K
$207.5K – $276.7K
NOI $16,599 @ 7.0% cap · market cap 6.17%
Theoretical Best
Specialty Retail
$805.3K
$704.6K – $939.5K
NOI $56,371 @ 7.0% cap · market cap 20.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,205
Businesses Nearby
Explore this area
Business Placement
Demographics for 19124, PA
68,766
Population
27,014
Households
2.5
Avg Household Size
33
Median Age
15%
College-Educated
80%
High-School Grad
5.1 sq mi
ZIP Area
13,484
Density / Sq Mi
$46,100
Median Household Income
$35,364
Median Earnings
$1,063
Median Rent
$155,000
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-unit residential property with separate utilities, shared laundry facilities, and a converted garage featuring a full bathroom.
Where is this duplex located?
The property is located at 3945 Claridge St Philadelphia, PA.
What is the asking price?
The asking price for this property is $269,000.
What are key features of this property?
This property features: 1,400 SF duplex on a corner property, built in 1965; Two residential units with separate utilities; Converted garage provides a bonus room and full bathroom
