Turn-Key 2+1
5228 N 2ND Street Philadelphia, PA 19120
For Sale
$199,000
MULTI_FAMILY - Other - PHILADELPHIA, PA
Property Size1,718 SF
Lot Size0.06 Acres
Price / SF$115.83
Days on Market229
Property Features for 5228 N 2ND Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- On Street
- Standard status
- Active
- 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: Jun 9
Last Checked: Jul 27 at 4:06AM
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 turn-key 2+1 duplex offers a practical residential income layout with separate gas and electric for both units. Recent updates include renovated kitchens, floating floors, and fresh paint throughout, giving the property a clean, modern appearance. The overall condition supports an owner-occupant move-in or an income-focused setup with minimal near-term work based on the improvements already completed.
The property is located at 5228 N 2ND Street in Philadelphia, Pennsylvania 19120, within Philadelphia County. The lot is listed at approximately 0.0577 acres, and the total property size is reported as 1,718 square feet.
For tenants, the separate gas and electric arrangement can help simplify utility expectations by unit. For buyers, the combination of a duplex configuration and the already completed interior updates may suit those looking for a property they can operate or occupy without waiting on major renovations. Whether you’re considering owner occupancy or purchasing for rental purposes, this home’s updated finishes and independent unit utilities are key operational features to review.
The property is located at 5228 N 2ND Street in Philadelphia, Pennsylvania 19120, within Philadelphia County. The lot is listed at approximately 0.0577 acres, and the total property size is reported as 1,718 square feet.
For tenants, the separate gas and electric arrangement can help simplify utility expectations by unit. For buyers, the combination of a duplex configuration and the already completed interior updates may suit those looking for a property they can operate or occupy without waiting on major renovations. Whether you’re considering owner occupancy or purchasing for rental purposes, this home’s updated finishes and independent unit utilities are key operational features to review.
Key Highlights
- 2+1 duplex with masonry construction and hot water heating
- Both units feature separate gas and electric
- Recent updates include renovated kitchens, floating floors, and fresh paint throughout
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Updated duplex with separate gas and electric services in each unit for straightforward owner or tenant occupancy.
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 masonry construction and hot water heating; Both units feature separate gas and electric; Recent updates include renovated kitchens, floating floors, and fresh paint throughout
