Turnkey Renovated Legal
For Sale
$360,000
5040 Market Street, Philadelphia, PA 19139
Fully renovated duplex with separate entrances, two bedrooms and two full baths per unit, plus in-unit laundry.
Property Size1,650 SF
Price / SF$218.18
Days on Market159
Property Features for 5040 Market Street
General Information
Standard status
Active
Size
1,650 SF
Property subtype
Multi-Family
Zoning
CMX2
Occupancy
50%
Additional Details
Business Included
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$839
Amenities
Daylight,Full
Electric
Yes
No
Assessor
No Pool
all Blinds,appliances
Public
N30
21.00 x 95.00
0.05
On Street
Other
59000.00
Building Details
Building Size
1,650 SF
Year Built
1925
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
(610) 679-0127
Listed By:
Amanda Strain · License #1540241
(610) 679-0127
Source:
Thetristaterealestategroup
Added: Mar 18
Changed: Aug 22
Last Checked: Aug 22 at 3:38AM
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 Berkshire Hathaway HomeServices Homesale Realty
Investment Insights
Based on property information with market context.
This turnkey, fully renovated legal duplex is configured as two separate units with private entrances. Each unit offers 2 bedrooms and 2 full baths, along with in-unit washer and dryer, central air, and forced heat. The first-floor unit includes access to a rear patio and is currently empty, making it well suited for owner-occupancy or flexible use. The second-floor unit is leased through PHA and has a long-term term scheduled through May 31, 2027.
The property includes a welcoming front porch and separate rear basement access, providing a practical way to store items without interrupting either household. A rear patio is accessible from the first-floor unit, adding outdoor space tied directly to the living area.
For buyers seeking an income-producing setup with established tenancy, the second-floor unit’s existing lease and in-place status may simplify near-term operations. For owner-occupants, the vacant first-floor unit can support a live-in arrangement while maintaining the duplex structure. Either way, the property’s renovated condition, private entrances, and in-unit laundry support tenant comfort and straightforward day-to-day management.
The property includes a welcoming front porch and separate rear basement access, providing a practical way to store items without interrupting either household. A rear patio is accessible from the first-floor unit, adding outdoor space tied directly to the living area.
For buyers seeking an income-producing setup with established tenancy, the second-floor unit’s existing lease and in-place status may simplify near-term operations. For owner-occupants, the vacant first-floor unit can support a live-in arrangement while maintaining the duplex structure. Either way, the property’s renovated condition, private entrances, and in-unit laundry support tenant comfort and straightforward day-to-day management.
Key Highlights
- Fully renovated legal duplex built in 1925 with separate private entrances for each unit
- Each unit has 2 bedrooms and 2 full baths with in‑unit washer and dryer and central air
- 1st‑floor unit has 2BD/2BA and separate entrance with access to a rear patio; currently empty
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
$28,157
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
7.82%
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%
$563,140
$563.1K
Cap Rate 7%
$402,243
$402.2K
Cap Rate 9%
$312,856
$312.9K
Market Conditions
NOI Build-Up for 1,650 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
$42.6K $25.80/SF
− Vacancy
−$2.3K −$1.42/SF
EGI
$40.2K $24.38/SF
− OpEx
−$12.1K −$7.31/SF
NOI
$28.2K $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%
$563,140
Cap Rate 7%
$402,243
Cap Rate 9%
$312,856
Alternative Uses
Best Use
Multifamily LT 5
$402.2K
$352.0K – $469.3K
NOI $28,157 @ 7.0% cap · market cap 7.82%
Second Best
Apartment 5plus
$370.8K
$324.4K – $432.6K
NOI $25,954 @ 7.0% cap · market cap 7.21%
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
50%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,240
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 - Fully renovated duplex with separate entrances, two bedrooms and two full baths per unit, plus in-unit laundry.
Where is this duplex located?
The property is located at 5040 Market Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Fully renovated legal duplex built in 1925 with separate private entrances for each unit; Each unit has 2 bedrooms and 2 full baths with in‑unit washer and dryer and central air; 1st‑floor unit has 2BD/2BA and separate entrance with access to a rear patio; currently empty
