Renovated Triplex with In-Unit
For Sale
$410,000
Pending
5111 Springfield Avenue, Philadelphia, PA 19143
Three residential units offer updated kitchens, central air, and individual laundry facilities.
Property Size2,700 SF
Days on Market126
Property Features for 5111 Springfield Avenue
General Information
Standard status
Pending
Size
2,700 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RM1
Taxes and HOA fees
Annual Taxes
$6,923
Amenities
No
Built-In Microwave, Dishwasher, Dryer, Freezer, Oven/Range - Gas, Refrigerator, Washer, Water Heater
Kitchen - Eat-In, Kitchen - Table Space, Bathroom - Tub Shower, Wood Floors
No Pool
Porch(es)
Building Details
Year Built
1915
Listing Agency:
BHHS Fox & Roach-Blue Bell
(215) 740-7204
Listed By:
Ashlee Check · License #rs331462
(215) 740-7204
Source:
Compass
Added: Apr 28
Changed: Aug 30
Last Checked: Aug 31 at 12:41AM
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 BHHS Fox & Roach-Blue Bell
Investment Insights
Based on property information with market context.
This 2,700-square-foot triplex, built in 1915, contains three residential units with matching updated finishes. Renovations completed approximately 10 years ago included refinished hardwood flooring, restored wood trim, wood cabinetry, granite kitchen counters, full appliance packages, energy-efficient windows, central air, high-efficiency gas heat, and in-unit laundry. The first-floor residence has its own entry to the rear yard, while a porch provides additional exterior space.
Building systems include separate utilities, upgraded 200 AMP electrical service, a fire alarm system, and improved sewer and water lines. The owner pays for water. Zoned RM1, the property is within walking distance of major hospitals and universities in University City, and is located at 5111 Springfield Avenue in Philadelphia, Pennsylvania 19143.
Building systems include separate utilities, upgraded 200 AMP electrical service, a fire alarm system, and improved sewer and water lines. The owner pays for water. Zoned RM1, the property is within walking distance of major hospitals and universities in University City, and is located at 5111 Springfield Avenue in Philadelphia, Pennsylvania 19143.
Key Highlights
- Three‑unit triplex with 2,700 square feet
- Renovated approximately 10 years ago
- Separate utilities with upgraded 200 AMP electrical service
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
$29,249
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
7.13%
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%
$584,980
$585.0K
Cap Rate 7%
$417,843
$417.8K
Cap Rate 9%
$324,989
$325.0K
Market Conditions
NOI Build-Up for 2,700 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
$45.0K $16.68/SF
− Vacancy
−$3.3K −$1.20/SF
EGI
$41.8K $15.48/SF
− OpEx
−$12.5K −$4.64/SF
NOI
$29.2K $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%
$584,980
Cap Rate 7%
$417,843
Cap Rate 9%
$324,989
Alternative Uses
Best Use
Multifamily LT 5
$417.8K
$365.6K – $487.5K
NOI $29,249 @ 7.0% cap · market cap 7.13%
Second Best
Apartment 5plus
$371.7K
$325.2K – $433.6K
NOI $26,016 @ 7.0% cap · market cap 6.35%
Theoretical Best
Office A
$925.4K
$809.7K – $1.08M
NOI $64,779 @ 7.0% cap · market cap 15.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,786
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?
Triplex - Three residential units offer updated kitchens, central air, and individual laundry facilities.
Where is this triplex located?
The property is located at 5111 Springfield Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Three‑unit triplex with 2,700 square feet; Renovated approximately 10 years ago; Separate utilities with upgraded 200 AMP electrical service
