Renovated Residential Income
New
For Sale
$749,999
501 VINE STREET Unit 9, Philadelphia, PA 19106
Converted two-bedroom residence with three baths, historic details, modern systems, patio space, basement storage, and assigned parking.
Property Size2,163 SF
Days on Market7
Property Features for 501 VINE STREET Unit 9
General Information
Standard status
Active
Size
2,163 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$11,058
Building Details
Building Size
2,163 SF
Year Built
1900
Listing Agency:
Space & Company
Listed By:
Cristobal DeLaRosa · License #RS350269
(215) 913-6047
Source:
Patmckennarealtors
Added: Sep 10
Changed: Sep 13
Last Checked: Sep 15 at 9:12AM
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 Space & Company
Investment Insights
Based on property information with market context.
This converted residential income property combines a historic shell with substantial modern improvements. The two-bedroom, three-bath layout includes an open living, dining, and kitchen arrangement, an eat-in kitchen with dishwasher, refrigerator, and newer oven, plus original wood flooring and exposed brick. The primary suite includes a soaking tub and walk-in shower, while the secondary bath features a steam shower. Recessed lighting, built-in surround speakers, and a Lutron lighting system add functionality throughout the residence.
Major renovations completed in 2012 included energy-efficient windows. A new HVAC system, newer hot water heater, cargo lift, patio, corner-lot position, and deeded or assigned parking further enhance the property. The basement offers additional storage and flex space. The property is in Philadelphia's Old City, near parks, public transportation, shops, restaurants, galleries, and cultural attractions.
Major renovations completed in 2012 included energy-efficient windows. A new HVAC system, newer hot water heater, cargo lift, patio, corner-lot position, and deeded or assigned parking further enhance the property. The basement offers additional storage and flex space. The property is in Philadelphia's Old City, near parks, public transportation, shops, restaurants, galleries, and cultural attractions.
Key Highlights
- Two‑bedroom, three‑bath converted dwelling
- Major renovations completed in 2012, including energy‑efficient windows
- New HVAC system and newer hot water heater
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
$34,023
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
4.54%
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%
$680,460
$680.5K
Cap Rate 7%
$486,043
$486.0K
Cap Rate 9%
$378,033
$378.0K
Market Conditions
NOI Build-Up for 2,163 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
$65.7K $30.36/SF
− Vacancy
−$3.8K −$1.76/SF
EGI
$61.9K $28.60/SF
− OpEx
−$27.8K −$12.87/SF
NOI
$34.0K $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%
$680,460
Cap Rate 7%
$486,043
Cap Rate 9%
$378,033
Alternative Uses
Best Use
Apartment 5plus
$486.0K
$425.3K – $567.1K
NOI $34,023 @ 7.0% cap · market cap 4.54%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$527.3K
$461.4K – $615.2K
NOI $36,911 @ 7.0% cap · market cap 4.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
11,111
Businesses Nearby
Explore this area
Business Placement
Demographics for 19106, PA
15,190
Population
9,913
Households
1.5
Avg Household Size
39
Median Age
80%
College-Educated
96%
High-School Grad
0.9 sq mi
ZIP Area
16,878
Density / Sq Mi
$129,779
Median Household Income
$93,953
Median Earnings
$2,219
Median Rent
$528,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Converted two-bedroom residence with three baths, historic details, modern systems, patio space, basement storage, and assigned parking.
Where is this residential income property located?
The property is located at 501 VINE STREET Unit 9 Philadelphia, PA.
What is the asking price?
The asking price for this property is $749,999.
What are key features of this property?
This property features: Two‑bedroom, three‑bath converted dwelling; Major renovations completed in 2012, including energy‑efficient windows; New HVAC system and newer hot water heater
