Updated Two-Unit
For Sale
$270,000
4033 POPLAR STREET, Philadelphia, PA 19104
Two renovated units are ready for occupancy with updated plumbing.
Property Size1,460 SF
Price / SF$184.93
Days on Market43
Property Features for 4033 POPLAR STREET
General Information
Standard status
Active
Size
1,460 SF
Property subtype
Duplex
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1925
Buildings
1
Listing Agency:
United Real Estate
(484) 367-7727
Listed By:
Ryan Bullock · License #RS367791
(215) 509-9510
Source:
Cummingsrealtors
Added: Jul 25
Changed: Sep 4
Last Checked: Sep 5 at 5:59AM
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 United Real Estate
Investment Insights
Based on property information with market context.
This 1,460-square-foot duplex, built in 1925, contains two one-bedroom, one-bathroom residences. Both units have received cosmetic improvements and are prepared for occupancy, while updated PEX plumbing addresses a key building system. The property offers a straightforward two-unit configuration for an owner seeking a residential rental asset.
The property is located at 4033 Poplar Street in Philadelphia, near the Philadelphia Zoo and Please Touch Museum. New construction and neighborhood development are present in the surrounding area. Recent updates to the plumbing and interiors reduce the scope of immediate renovation work described for the property.
The property is located at 4033 Poplar Street in Philadelphia, near the Philadelphia Zoo and Please Touch Museum. New construction and neighborhood development are present in the surrounding area. Recent updates to the plumbing and interiors reduce the scope of immediate renovation work described for the property.
Key Highlights
- Two one‑bedroom, one‑bathroom units
- 1,460 square feet in a duplex built in 1925
- Updated PEX plumbing
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
$22,965
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
8.51%
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%
$459,300
$459.3K
Cap Rate 7%
$328,071
$328.1K
Cap Rate 9%
$255,167
$255.2K
Market Conditions
NOI Build-Up for 1,460 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
$44.3K $30.36/SF
− Vacancy
−$2.6K −$1.76/SF
EGI
$41.8K $28.60/SF
− OpEx
−$18.8K −$12.87/SF
NOI
$23.0K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$459,300
Cap Rate 7%
$328,071
Cap Rate 9%
$255,167
Alternative Uses
Best Use
Multifamily LT 5
$355.9K
$311.4K – $415.3K
NOI $24,915 @ 7.0% cap · market cap 9.23%
Second Best
Apartment 5plus
$328.1K
$287.1K – $382.8K
NOI $22,965 @ 7.0% cap · market cap 8.51%
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
869
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 - Two renovated units are ready for occupancy with updated plumbing.
Where is this duplex located?
The property is located at 4033 POPLAR STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Two one‑bedroom, one‑bathroom units; 1,460 square feet in a duplex built in 1925; Updated PEX plumbing
