Residential Income Property with Rooftop
For Sale
$285,000
4217 CHESTNUT STREET Unit 206, Philadelphia, PA 19104
One-bedroom condominium with updated finishes, in-unit laundry, central HVAC, and access to a shared rooftop sky deck.
Property Size674 SF
Days on Market34
Property Features for 4217 CHESTNUT STREET Unit 206
General Information
Standard status
Active
Size
674 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$846
Amenities
granite countertops
stainless steel appliances
central air and heat
in-unit washer and dryer
rooftop sky deck
Building Details
Building Size
674 SF
Year Built
2017
Listing Agency:
LPT Realty, LLC
Listed By:
Maria Maria Quattrone Quattrone · License #RS281573
(215) 607-3535
Source:
Patmckennarealtors
Added: Aug 7
Changed: Sep 6
Last Checked: Sep 9 at 6:59AM
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 LPT Realty, LLC
Investment Insights
Based on property information with market context.
This 2017-built condominium offers a one-bedroom, one-bath layout with an open living area and low-maintenance interior. The residence includes granite countertops, stainless steel appliances, central air and heat, and a washer and dryer within the unit. A rooftop sky deck provides shared outdoor space for residents.
The property is located in Philadelphia’s University City area near the University of Pennsylvania, Drexel University, CHOP, neighborhood restaurants, shopping, public transportation, and Center City. The condominium association fee covers building maintenance, water, sewer, trash removal, and snow removal.
The property is located in Philadelphia’s University City area near the University of Pennsylvania, Drexel University, CHOP, neighborhood restaurants, shopping, public transportation, and Center City. The condominium association fee covers building maintenance, water, sewer, trash removal, and snow removal.
Key Highlights
- One‑bedroom, one‑bath condominium with an open‑concept layout
- Built in 2017
- Granite countertops and stainless steel appliances
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
$10,602
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
3.72%
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%
$212,040
$212.0K
Cap Rate 7%
$151,457
$151.5K
Cap Rate 9%
$117,800
$117.8K
Market Conditions
NOI Build-Up for 674 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
$20.5K $30.36/SF
− Vacancy
−$1.2K −$1.76/SF
EGI
$19.3K $28.60/SF
− OpEx
−$8.7K −$12.87/SF
NOI
$10.6K $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%
$212,040
Cap Rate 7%
$151,457
Cap Rate 9%
$117,800
Alternative Uses
Best Use
Apartment 5plus
$151.5K
$132.5K – $176.7K
NOI $10,602 @ 7.0% cap · market cap 3.72%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$164.3K
$143.8K – $191.7K
NOI $11,502 @ 7.0% cap · market cap 4.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,404
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom condominium with updated finishes, in-unit laundry, central HVAC, and access to a shared rooftop sky deck.
Where is this residential income property located?
The property is located at 4217 CHESTNUT STREET Unit 206 Philadelphia, PA.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: One‑bedroom, one‑bath condominium with an open‑concept layout; Built in 2017; Granite countertops and stainless steel appliances
