Duplex With Basement
For Sale
$264,999
4243 CHIPPENDALE STREET, Philadelphia, PA 19136
Two residential units offer separate living areas, laundry access, and private outdoor space near shops and public transportation.
Property Size1,438 SF
Price / SF$184.28
Days on Market24
Property Features for 4243 CHIPPENDALE STREET
General Information
Standard status
Active
Size
1,438 SF
Property subtype
Duplex
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Year Built
1950
Listing Agency:
J G McSherry LLC
Listed By:
James S Harte
(215) 745-4200
Source:
Cummingsrealtors
Added: Aug 12
Changed: Sep 3
Last Checked: Sep 4 at 6:08AM
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 J G McSherry LLC
Investment Insights
Based on property information with market context.
This 1,438-square-foot duplex, built in 1950, contains two apartments with large living areas, breakfast or dining space, galley kitchens, full bathrooms, and one large bedroom per unit. The first-floor apartment connects privately to additional basement space and a laundry area, while the upper unit has its own side entry to the laundry area. Both units include washer and dryer hookups, separate gas and electric services, and dedicated heating and hot-water systems.
The property sits at 4243 Chippendale Street in Philadelphia’s West Mayfair section, with front and side yards. Shops along Frankford and Cottman Avenues are within walking distance, and multiple public transportation options are nearby. The current owner reports a rental history extending over 30y.
The property sits at 4243 Chippendale Street in Philadelphia’s West Mayfair section, with front and side yards. Shops along Frankford and Cottman Avenues are within walking distance, and multiple public transportation options are nearby. The current owner reports a rental history extending over 30y.
Key Highlights
- 1,438 SF duplex with two residential apartments
- Each apartment includes one large bedroom, living area, dining space, galley kitchen, and bathroom
- First‑floor unit has private entry to extra basement space and laundry area
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
$22,619
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
8.54%
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%
$452,380
$452.4K
Cap Rate 7%
$323,129
$323.1K
Cap Rate 9%
$251,322
$251.3K
Market Conditions
NOI Build-Up for 1,438 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
$43.7K $30.36/SF
− Vacancy
−$2.5K −$1.76/SF
EGI
$41.1K $28.60/SF
− OpEx
−$18.5K −$12.87/SF
NOI
$22.6K $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%
$452,380
Cap Rate 7%
$323,129
Cap Rate 9%
$251,322
Alternative Uses
Best Use
Multifamily LT 5
$350.6K
$306.7K – $409.0K
NOI $24,539 @ 7.0% cap · market cap 9.26%
Second Best
Apartment 5plus
$323.1K
$282.7K – $377.0K
NOI $22,619 @ 7.0% cap · market cap 8.54%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,460
Businesses Nearby
Explore this area
Business Placement
Demographics for 19136, PA
39,151
Population
13,841
Households
2.8
Avg Household Size
36
Median Age
24%
College-Educated
87%
High-School Grad
4.8 sq mi
ZIP Area
8,156
Density / Sq Mi
$65,499
Median Household Income
$40,495
Median Earnings
$1,200
Median Rent
$215,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer separate living areas, laundry access, and private outdoor space near shops and public transportation.
Where is this duplex located?
The property is located at 4243 CHIPPENDALE STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $264,999.
What are key features of this property?
This property features: 1,438 SF duplex with two residential apartments; Each apartment includes one large bedroom, living area, dining space, galley kitchen, and bathroom; First‑floor unit has private entry to extra basement space and laundry area
