Renovated Duplex Income
For Sale
$365,000
5310 SPRUCE ST, Philadelphia, PA 19139
Renovated duplex offers two two-bedroom, one-bath units, with one unit rented and the other vacant.
Property Size1,400 SF
Price / SF$260.71
Days on Market53
Property Features for 5310 SPRUCE ST
General Information
Standard status
Active
Size
1,400 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Amenities
private front porch
private backyard
Building Details
Tenancy
Multi
Listing Agency:
KW Empower
(215) 627-3500
Listed By:
Angela Coven
(215) 268-7764
Source:
Sandrasellstheshore
Added: Jul 26
Changed: Sep 8
Last Checked: Sep 15 at 10:39AM
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 KW Empower
Investment Insights
Based on property information with market context.
This renovated duplex includes two separate two-bedroom, one-bath units with updated finishes and comfortable layouts. The upper unit is currently rented, providing immediate rental income for a new owner. The lower unit is vacant and ready for a new owner-occupant or tenant.
The first-floor unit features a private front porch and access to a private backyard, adding usable outdoor space.
With two updated units and separate living spaces, the property is positioned as a turnkey residential income duplex.
The first-floor unit features a private front porch and access to a private backyard, adding usable outdoor space.
With two updated units and separate living spaces, the property is positioned as a turnkey residential income duplex.
Key Highlights
- Renovated duplex built in 1925 in Philadelphia’s Cobbs Creek neighborhood
- Two 2‑bedroom, 1‑bath units with updated finishes and separate living spaces
- Upper unit is currently rented, providing immediate rental income
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
$23,891
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
6.55%
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%
$477,820
$477.8K
Cap Rate 7%
$341,300
$341.3K
Cap Rate 9%
$265,456
$265.5K
Market Conditions
NOI Build-Up for 1,400 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
$36.1K $25.80/SF
− Vacancy
−$2.0K −$1.42/SF
EGI
$34.1K $24.38/SF
− OpEx
−$10.2K −$7.31/SF
NOI
$23.9K $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%
$477,820
Cap Rate 7%
$341,300
Cap Rate 9%
$265,456
Alternative Uses
Best Use
Multifamily LT 5
$341.3K
$298.6K – $398.2K
NOI $23,891 @ 7.0% cap · market cap 6.55%
Second Best
Apartment 5plus
$314.6K
$275.3K – $367.0K
NOI $22,021 @ 7.0% cap · market cap 6.03%
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
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,509
Businesses Nearby
Explore this area
Business Placement
Demographics for 19139, PA
43,281
Population
23,896
Households
1.8
Avg Household Size
36
Median Age
22%
College-Educated
86%
High-School Grad
1.8 sq mi
ZIP Area
24,045
Density / Sq Mi
$38,701
Median Household Income
$34,796
Median Earnings
$1,110
Median Rent
$118,700
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 - Renovated duplex offers two two-bedroom, one-bath units, with one unit rented and the other vacant.
Where is this duplex located?
The property is located at 5310 SPRUCE ST Philadelphia, PA.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Renovated duplex built in 1925 in Philadelphia’s Cobbs Creek neighborhood; Two 2‑bedroom, 1‑bath units with updated finishes and separate living spaces; Upper unit is currently rented, providing immediate rental income
