Renovated Duplex with Unit
For Sale
$675,000
4631 LOCUST STREET, Philadelphia, PA 19139
Two self-contained residences feature updated kitchens, baths, flooring, systems, and in-unit laundry.
Property Size1,950 SF
Days on Market139
Property Features for 4631 LOCUST STREET
General Information
Standard status
Active
Size
1,950 SF
Property subtype
Duplex
Units
Unit Mix
1 x 4BR/2BA, 1 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,251
Amenities
W/D in unit
Building Details
Building Size
1,950 SF
Year Built
1925
Buildings
1
Listing Agency:
Mallin Panchelli Nadel Realty Inc
(215) 413-4900
Listed By:
Nadia T Bilynsky · License #RS311101
(215) 413-4900
Source:
Patmckennarealtors
Added: Apr 13
Changed: Aug 28
Last Checked: Aug 28 at 6:17PM
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 Mallin Panchelli Nadel Realty Inc
Investment Insights
Based on property information with market context.
This duplex, built in 1925, contains two self-contained residences with distinct bedroom and bathroom configurations. One unit offers 4 bedrooms and 2 baths, while the other includes 3 bedrooms and 1 bath. Both residences have newer kitchens, bathrooms, flooring, building systems, and in-unit washer and dryer equipment.
The corner property occupies a tree-lined block in University City at 4631 Locust Street, Philadelphia, PA 19139. Its two-unit layout provides separate living spaces within a single residential income property, with the physical improvements and unit-level laundry already in place.
The corner property occupies a tree-lined block in University City at 4631 Locust Street, Philadelphia, PA 19139. Its two-unit layout provides separate living spaces within a single residential income property, with the physical improvements and unit-level laundry already in place.
Key Highlights
- Two‑unit duplex with 1 four‑bedroom, 2‑bath residence and 1 three‑bedroom, 1‑bath residence
- Self‑contained units with newer kitchens, baths, flooring, and systems
- Washer and dryer equipment located within each unit
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
$33,277
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
4.93%
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%
$665,540
$665.5K
Cap Rate 7%
$475,386
$475.4K
Cap Rate 9%
$369,744
$369.7K
Market Conditions
NOI Build-Up for 1,950 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
$50.3K $25.80/SF
− Vacancy
−$2.8K −$1.42/SF
EGI
$47.5K $24.38/SF
− OpEx
−$14.3K −$7.31/SF
NOI
$33.3K $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%
$665,540
Cap Rate 7%
$475,386
Cap Rate 9%
$369,744
Alternative Uses
Best Use
Multifamily LT 5
$475.4K
$416.0K – $554.6K
NOI $33,277 @ 7.0% cap · market cap 4.93%
Second Best
Apartment 5plus
$438.2K
$383.4K – $511.2K
NOI $30,673 @ 7.0% cap · market cap 4.54%
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
2,441
Businesses Nearby
Explore this area
Business Placement
Demographics for 19139, PA
43,281
Population
23,896
Households
1.8
Avg Household Size
36
Median Age
22%
College-Educated
86%
High-School Grad
1.8 sq mi
ZIP Area
24,045
Density / Sq Mi
$38,701
Median Household Income
$34,796
Median Earnings
$1,110
Median Rent
$118,700
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 self-contained residences feature updated kitchens, baths, flooring, systems, and in-unit laundry.
Where is this duplex located?
The property is located at 4631 LOCUST STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Two‑unit duplex with 1 four‑bedroom, 2‑bath residence and 1 three‑bedroom, 1‑bath residence; Self‑contained units with newer kitchens, baths, flooring, and systems; Washer and dryer equipment located within each unit
