2+1 Duplex with Separate
For Sale
Under Contract
$199,000
5228 N 2ND Street, Philadelphia, PA 19120
MULTI_FAMILY - Other - PHILADELPHIA, PA
Property Size1,718 SF
Lot Size0.06 Acres
Price / SF$115.83
Days on Market234
Property Features for 5228 N 2ND Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
On Street
Subdivision
OLNEY
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active Under Contract
Size
1,718 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
2982
Utilities
Heating system
Hot Water(Heating)
Building Details
Year built
1945
Number of units
1
Building materials
Masonry
Architectural style
Other
Listing Agency:
Joseph F X Fasy Realtors
(215) 745-8500
Listed By:
Joseph F.X. Fasy Jr · License #AB069053
(215) 290-6264
Added: Dec 10, 2025
Changed: Jul 31
Last Checked: Aug 1 at 3:06AM
MLS# PAPH2566056
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 2+1 duplex offers two units with separate gas and electric. The property has been updated with renovated kitchens, floating floors, and fresh paint throughout, giving it a clean, modern interior suitable for an owner-occupant or a rental setup.
The building is masonry construction and was built in 1945. Hot water heating serves the property, and parking is available on-street. The home sits on a 0.0577-acre lot with a total property size of 1,718 SF, providing a compact, manageable footprint in Philadelphia.
With multiple core improvements already completed, the duplex is positioned for a streamlined move-in experience or for starting to generate rental income upon acquisition.
The building is masonry construction and was built in 1945. Hot water heating serves the property, and parking is available on-street. The home sits on a 0.0577-acre lot with a total property size of 1,718 SF, providing a compact, manageable footprint in Philadelphia.
With multiple core improvements already completed, the duplex is positioned for a streamlined move-in experience or for starting to generate rental income upon acquisition.
Key Highlights
- 2+1 duplex with separate gas and electric for both units
- Renovated kitchens with fresh paint throughout
- Floating floors and updated interior finishes
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $32.6k | $18.96 |
| − Vacancy | −$2.5k | −$1.44 |
| EGI | $30.1k | $17.52 |
| − OpEx | −$13.5k | −$7.88 |
| NOI | $16.6k | $9.64 |
1,718 SF · lease $18.96/SF/yr · vacancy 7.60% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$265.9K
$232.6K – $310.2K
NOI $18,611 @ 7.0% cap · market cap 9.35%
Second Best
Apartment 5plus
$236.5K
$206.9K – $275.9K
NOI $16,554 @ 7.0% cap · market cap 8.32%
Theoretical Best
Office A
$410.4K
$359.1K – $478.8K
NOI $28,727 @ 7.0% cap · market cap 14.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,843
Businesses Nearby
Explore this area
Business Placement
Demographics for 19120, PA
66,177
Population
25,730
Households
2.6
Avg Household Size
35
Median Age
13%
College-Educated
77%
High-School Grad
3.2 sq mi
ZIP Area
20,680
Density / Sq Mi
$51,993
Median Household Income
$32,980
Median Earnings
$1,186
Median Rent
$143,500
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 - 2+1 duplex with separate gas and electric services, renovated kitchens, new flooring, and fresh paint throughout.
Where is this duplex located?
The property is located at 5228 N 2ND Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: 2+1 duplex with separate gas and electric for both units; Renovated kitchens with fresh paint throughout; Floating floors and updated interior finishes
