Historic Duplex with Covered
New
For Sale
$599,500
4949 HAZEL AVENUE, Philadelphia, PA 19143
Two residential units combine original character with in-unit laundry, dishwashers, and shared outdoor space.
Property Size2,304 SF
Price / SF$260.20
Days on Market2
Property Features for 4949 HAZEL AVENUE
General Information
Standard status
Active
Size
2,304 SF
Property subtype
Duplex
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,659
Amenities
in-unit laundry
dishwashers
covered front porch
shared outdoor area and deck/yard
Building Details
Building Size
2,304 SF
Year Built
1925
Buildings
1
Listing Agency:
Houwzer, LLC
(610) 550-9271
Listed By:
Frederick A. Altieri · License #RS346080
(610) 550-9271
Source:
Patmckennarealtors
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 14 at 5:34AM
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 Houwzer, LLC
Investment Insights
Based on property information with market context.
This 2,304-square-foot twin/semi-detached duplex dates to 1925 and includes two multi-bedroom, multi-bathroom living spaces. Original hardwood floors, 9-foot ceilings, and period architectural details define the interiors, while in-unit laundry and dishwashers provide contemporary functionality. A covered front porch extends the usable living environment, with additional shared outdoor space and a deck/yard.
The property is in Philadelphia’s Cedar Park neighborhood, two blocks from Baltimore Avenue. Mariposa Food Co-op, Dock Street Brewery, Fu-Wah Deli, Clark Park, and the local farmers’ market are within the surrounding neighborhood. The University of Pennsylvania is approximately a 7-minute bike ride or 10-minute trolley ride away, with 30th Street Station and Center City farther along the route.
The duplex layout supports flexible residential use across two separate units while retaining shared exterior amenities and substantial interior space.
The property is in Philadelphia’s Cedar Park neighborhood, two blocks from Baltimore Avenue. Mariposa Food Co-op, Dock Street Brewery, Fu-Wah Deli, Clark Park, and the local farmers’ market are within the surrounding neighborhood. The University of Pennsylvania is approximately a 7-minute bike ride or 10-minute trolley ride away, with 30th Street Station and Center City farther along the route.
The duplex layout supports flexible residential use across two separate units while retaining shared exterior amenities and substantial interior space.
Key Highlights
- 2,304 sq. ft. twin/semi‑detached duplex
- Built in 1925 with original hardwood floors and 9‑foot ceilings
- Two multi‑bedroom, multi‑bathroom living spaces
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
$24,959
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
4.16%
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%
$499,180
$499.2K
Cap Rate 7%
$356,557
$356.6K
Cap Rate 9%
$277,322
$277.3K
Market Conditions
NOI Build-Up for 2,304 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
$38.4K $16.68/SF
− Vacancy
−$2.8K −$1.20/SF
EGI
$35.7K $15.48/SF
− OpEx
−$10.7K −$4.64/SF
NOI
$25.0K $10.83/SF
Area
ZIP 19143
Vacancy
7.22%
Lease Rate
$16.68 /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%
$499,180
Cap Rate 7%
$356,557
Cap Rate 9%
$277,322
Alternative Uses
Best Use
Multifamily LT 5
$356.6K
$312.0K – $416.0K
NOI $24,959 @ 7.0% cap · market cap 4.16%
Second Best
Apartment 5plus
$317.1K
$277.5K – $370.0K
NOI $22,200 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$789.7K
$691.0K – $921.3K
NOI $55,278 @ 7.0% cap · market cap 9.22%
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
2,335
Businesses Nearby
Explore this area
Business Placement
Demographics for 19143, PA
64,648
Population
31,391
Households
2.1
Avg Household Size
36
Median Age
32%
College-Educated
91%
High-School Grad
3.1 sq mi
ZIP Area
20,854
Density / Sq Mi
$47,964
Median Household Income
$38,189
Median Earnings
$1,235
Median Rent
$152,000
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 residential units combine original character with in-unit laundry, dishwashers, and shared outdoor space.
Where is this duplex located?
The property is located at 4949 HAZEL AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $599,500.
What are key features of this property?
This property features: 2,304 sq. ft. twin/semi‑detached duplex; Built in 1925 with original hardwood floors and 9‑foot ceilings; Two multi‑bedroom, multi‑bathroom living spaces
