Renovated Duplex with Private
For Sale
$360,000
5040 MARKET Street, Philadelphia, PA 19139
Multi-Family, PHILADELPHIA, PA
Property Size1,650 SF
Lot Size0.05 Acres
Price / SF$218.18
Days on Market175
Property Features for 5040 MARKET Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
On Street
Appliances
Dryer, Dishwasher, Microwave
Subdivision
WALNUT HILL
Elementary school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Middle school district
THE SCHOOL DISTRICT OF PHILADELPHIA
High school district
THE SCHOOL DISTRICT OF PHILADELPHIA
Standard status
Active
Size
1,650 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
839
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
in-unit washer and dryer
central air
forced heat
front porch
rear basement access
rear patio
separate private entrances
Building Details
Year built
1925
Number of units
2
Building materials
Masonry
Architectural style
Victorian
Listing Agency:
EXP Realty, LLC
(888) 397-7352
Listed By:
Deidre M Quinn · License #RS276819
(267) 225-3678
Added: Mar 18
Changed: Aug 19
Last Checked: Sep 8 at 9:06PM
MLS# PAPH2595878
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,650-square-foot masonry duplex dates to 1925 and has been fully renovated. Both residences offer two bedrooms, two full bathrooms, private entrances, in-unit washer and dryer, central air, and central heating. The first-floor unit is vacant and includes rear patio access, while the second-floor residence is occupied under a PHA lease through May 31, 2027.
The property sits on a 0.0456-acre lot in Philadelphia’s 19139 ZIP code and includes a front porch, rear basement access, and basement space that can provide separate owner storage. On-street parking is available, and the building’s Victorian architectural style adds distinct character to the residential asset.
The property sits on a 0.0456-acre lot in Philadelphia’s 19139 ZIP code and includes a front porch, rear basement access, and basement space that can provide separate owner storage. On-street parking is available, and the building’s Victorian architectural style adds distinct character to the residential asset.
Key Highlights
- Fully renovated 1,650‑square‑foot legal duplex on a 0.0456‑acre lot
- Two residences, each with 2 bedrooms, 2 full baths, and a private entrance
- First‑floor unit is vacant and includes rear patio access
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
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 - Two-unit Victorian property with separate entrances, central systems, in-unit laundry, and a vacant first-floor residence.
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 1,650‑square‑foot legal duplex on a 0.0456‑acre lot; Two residences, each with 2 bedrooms, 2 full baths, and a private entrance; First‑floor unit is vacant and includes rear patio access
