Brick Two-Unit
New
For Sale
$449,900
523 FOSTER STREET, Philadelphia, PA 19116
Two-bedroom residences with full baths and complete appliance packages in a 1965 duplex.
Property Size1,584 SF
Lot Size0.08 Acres
Price / SF$284.03
Days on Market7
Property Features for 523 FOSTER STREET
General Information
Standard status
Active
Size
1,584 SF
Lot size
0.08 Acres
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,154
Amenities
gas oven/range
refrigerator
dishwasher
washer
dryer
Building Details
Building Size
1,584 SF
Year Built
1965
Buildings
1
Construction
brick
Listing Agency:
Realty Mark Associates
Listed By:
Inna Olson · License #AB068205
(215) 870-1364
Source:
Lizclarkrealestate
Added: Sep 8
Changed: Sep 10
Last Checked: Sep 14 at 10:58AM
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 Realty Mark Associates
Investment Insights
Based on property information with market context.
This 1965 semi-detached duplex provides 1,584 square feet of finished living space across two residential units. Each residence includes two bedrooms, one full bathroom, and a kitchen equipped with a gas oven/range, refrigerator, and dishwasher, along with a washer and dryer. The building features brick construction and Mid-Century Modern design elements.
Set on a 0.08-acre lot at 523 Foster Street in Philadelphia, Pennsylvania 19116, the property offers a two-unit configuration suited to residential rental use. The separate residences and included appliances provide a clearly defined operating setup for an owner evaluating a small multifamily asset.
Set on a 0.08-acre lot at 523 Foster Street in Philadelphia, Pennsylvania 19116, the property offers a two-unit configuration suited to residential rental use. The separate residences and included appliances provide a clearly defined operating setup for an owner evaluating a small multifamily asset.
Key Highlights
- Two‑unit duplex with 1,584 square feet of finished living space
- Each unit includes 2 bedrooms and 1 full bath
- Built in 1965 with brick construction
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
$27,031
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
6.01%
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%
$540,620
$540.6K
Cap Rate 7%
$386,157
$386.2K
Cap Rate 9%
$300,344
$300.3K
Market Conditions
NOI Build-Up for 1,584 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
$40.9K $25.80/SF
− Vacancy
−$2.3K −$1.42/SF
EGI
$38.6K $24.38/SF
− OpEx
−$11.6K −$7.31/SF
NOI
$27.0K $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%
$540,620
Cap Rate 7%
$386,157
Cap Rate 9%
$300,344
Alternative Uses
Best Use
Multifamily LT 5
$386.2K
$337.9K – $450.5K
NOI $27,031 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$355.9K
$311.5K – $415.3K
NOI $24,916 @ 7.0% cap · market cap 5.54%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
891
Businesses Nearby
Explore this area
Business Placement
Demographics for 19116, PA
35,610
Population
14,166
Households
2.5
Avg Household Size
43
Median Age
36%
College-Educated
90%
High-School Grad
5.2 sq mi
ZIP Area
6,848
Density / Sq Mi
$67,558
Median Household Income
$43,817
Median Earnings
$1,214
Median Rent
$321,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom residences with full baths and complete appliance packages in a 1965 duplex.
Where is this duplex located?
The property is located at 523 FOSTER STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,584 square feet of finished living space; Each unit includes 2 bedrooms and 1 full bath; Built in 1965 with brick construction
