Renovated Duplex with Two
For Sale
$249,990
Pending
521 West Westmoreland Street, Philadelphia, PA 19140
Two-bedroom units feature updated kitchens, renovated bathrooms, separated utilities, and 2024 system upgrades.
Property Size1,320 SF
Days on Market163
Property Features for 521 West Westmoreland Street
General Information
Standard status
Pending
Size
1,320 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RM1
Taxes and HOA fees
Annual Taxes
$1,246
Amenities
No
Built-In Microwave, Oven/Range - Electric, Refrigerator, Water Heater, Washer/Dryer Stacked
Other
No Pool
Porch(es), Enclosed
Building Details
Year Built
1920
Listing Agency:
Real of Pennsylvania
Listed By:
Noelle Carter · License #RS357559
(267) 374-8036
Source:
Compass
Added: Mar 29
Changed: Sep 1
Last Checked: Aug 31 at 9:57PM
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 Real of Pennsylvania
Investment Insights
Based on property information with market context.
This duplex contains two two-bedroom units within a 1,320-square-foot property built in 1920. Both residences were renovated in 2024 with updated kitchens, stainless steel appliances, renovated bathrooms, modern finishes, and new systems. Utilities are separately metered for each unit, and one unit is currently occupied. Interior amenities include a built-in microwave, electric oven/range, refrigerator, water heater, and stacked washer/dryer. The property also includes an enclosed porch and is zoned RM1.
The property is located near Temple University Hospital and within less than 1 mile of a bus stop, metro/subway station, and commuter rail station. The airport is less than 10 miles away. Its two-unit configuration supports residential income use or an owner-occupant arrangement, consistent with the available property classification.
The property is located near Temple University Hospital and within less than 1 mile of a bus stop, metro/subway station, and commuter rail station. The airport is less than 10 miles away. Its two-unit configuration supports residential income use or an owner-occupant arrangement, consistent with the available property classification.
Key Highlights
- Two two‑bedroom units in a 1,320‑square‑foot duplex
- Fully renovated in 2024 with updated kitchens, bathrooms, finishes, and systems
- One unit currently occupied
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
$22,526
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
9.01%
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%
$450,520
$450.5K
Cap Rate 7%
$321,800
$321.8K
Cap Rate 9%
$250,289
$250.3K
Market Conditions
NOI Build-Up for 1,320 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
$34.1K $25.80/SF
− Vacancy
−$1.9K −$1.42/SF
EGI
$32.2K $24.38/SF
− OpEx
−$9.7K −$7.31/SF
NOI
$22.5K $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%
$450,520
Cap Rate 7%
$321,800
Cap Rate 9%
$250,289
Alternative Uses
Best Use
Multifamily LT 5
$321.8K
$281.6K – $375.4K
NOI $22,526 @ 7.0% cap · market cap 9.01%
Second Best
Apartment 5plus
$296.6K
$259.5K – $346.1K
NOI $20,763 @ 7.0% cap · market cap 8.31%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,000
Businesses Nearby
Explore this area
Business Placement
Demographics for 19140, PA
52,124
Population
23,104
Households
2.3
Avg Household Size
36
Median Age
9%
College-Educated
73%
High-School Grad
3.2 sq mi
ZIP Area
16,289
Density / Sq Mi
$33,149
Median Household Income
$31,508
Median Earnings
$1,085
Median Rent
$101,100
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-bedroom units feature updated kitchens, renovated bathrooms, separated utilities, and 2024 system upgrades.
Where is this duplex located?
The property is located at 521 West Westmoreland Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $249,990.
What are key features of this property?
This property features: Two two‑bedroom units in a 1,320‑square‑foot duplex; Fully renovated in 2024 with updated kitchens, bathrooms, finishes, and systems; One unit currently occupied
