Renovated Two-Unit
For Sale
$279,900
5902 ADDISON STREET, Philadelphia, PA 19143
Updated duplex with one occupied apartment and a vacant lower-level unit featuring a separate entrance and added storage.
Property Size1,224 SF
Price / SF$228.68
Days on Market27
Property Features for 5902 ADDISON STREET
General Information
Standard status
Active
Size
1,224 SF
Property subtype
Duplex
Zoning
RM1
Units
Unit Mix
3BR/1BA, 1BR/1BA
Multifamily Units
2
Amenities
central air
Building Details
Year Built
1925
Buildings
1
Tenancy
Single
Listing Agency:
Canaan Realty Services INC
(215) 333-1826
Listed By:
Phillyn Noeun · License #RS357549
(267) 269-6178
Source:
Cummingsrealtors
Added: Aug 10
Changed: Sep 4
Last Checked: Sep 5 at 6:21AM
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 Canaan Realty Services INC
Investment Insights
Based on property information with market context.
Renovated duplex comprising two residential units within a 1,224-square-foot property built in 1925. The main-level apartment offers three bedrooms and one full bathroom and is occupied by a tenant who pays all utilities. The lower-level apartment has a private side entrance, one bedroom, one full bathroom, an open kitchen, living area, and additional storage; this unit is currently vacant.
The property is identified as RM1 and is located at 5902 Addison Street in Philadelphia, Pennsylvania. Showings of the occupied apartment require 24–48 hours’ notice.
The property is identified as RM1 and is located at 5902 Addison Street in Philadelphia, Pennsylvania. Showings of the occupied apartment require 24–48 hours’ notice.
Key Highlights
- Two‑unit duplex with 1,224 square feet and 1925 construction
- Renovated interior with central air throughout
- Main‑level unit includes 3 bedrooms and 1 full bathroom
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
$13,260
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
4.74%
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%
$265,200
$265.2K
Cap Rate 7%
$189,429
$189.4K
Cap Rate 9%
$147,333
$147.3K
Market Conditions
NOI Build-Up for 1,224 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
$20.4K $16.68/SF
− Vacancy
−$1.5K −$1.20/SF
EGI
$18.9K $15.48/SF
− OpEx
−$5.7K −$4.64/SF
NOI
$13.3K $10.83/SF
Area
ZIP 19143
Vacancy
7.22%
Lease Rate
$16.68 /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%
$265,200
Cap Rate 7%
$189,429
Cap Rate 9%
$147,333
Alternative Uses
Best Use
Multifamily LT 5
$189.4K
$165.8K – $221.0K
NOI $13,260 @ 7.0% cap · market cap 4.74%
Second Best
Apartment 5plus
$168.5K
$147.4K – $196.6K
NOI $11,794 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$419.5K
$367.1K – $489.5K
NOI $29,367 @ 7.0% cap · market cap 10.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,484
Businesses Nearby
Explore this area
Business Placement
Demographics for 19143, PA
64,648
Population
31,391
Households
2.1
Avg Household Size
36
Median Age
32%
College-Educated
91%
High-School Grad
3.1 sq mi
ZIP Area
20,854
Density / Sq Mi
$47,964
Median Household Income
$38,189
Median Earnings
$1,235
Median Rent
$152,000
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 - Updated duplex with one occupied apartment and a vacant lower-level unit featuring a separate entrance and added storage.
Where is this duplex located?
The property is located at 5902 ADDISON STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,224 square feet and 1925 construction; Renovated interior with central air throughout; Main‑level unit includes 3 bedrooms and 1 full bathroom
