Updated Duplex with
For Sale
$275,000
6015 Catharine Street, Philadelphia, PA 19143
Two residential units offer separate heating and hot water systems, with central air serving one unit.
Property Size2,208 SF
Price / SF$124.55
Days on Market10
Property Features for 6015 Catharine Street
General Information
Standard status
Active
Size
2,208 SF
Property subtype
Multi-Family
Zoning
RM1
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,344
Amenities
Electric
Yes
Natural Gas
No
Assessor
1
No Pool
Public
W30
18.00 x 115.00
0.05
Permanent
47780.00
Building Details
Building Size
2,208 SF
Year Built
1920
Listing Agency:
KW Empower
(856) 222-0077
Listed By:
Gary Cook
Source:
Thetristaterealestategroup
Added: Aug 26
Changed: Sep 3
Last Checked: Sep 2 at 1:40PM
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 Philadelphia duplex, built in 1920, contains two residential units: one with 2 bedrooms and 1 full bathroom, and another with 3 bedrooms and 1 full bathroom. The property includes a full-height basement with potential for conversion into a third unit. Separate new heating systems and independent new hot water tanks serve the two floors, while the building’s electrical system has been updated. One unit also has central air conditioning.
Located at 6015 Catharine Street in Philadelphia’s 19143 ZIP code, the property is identified in the source information as being in West Philadelphia, with access to University City, local transit, and downtown Philadelphia. The layout supports both owner-occupancy and rental use, subject to applicable approvals for any basement conversion.
Located at 6015 Catharine Street in Philadelphia’s 19143 ZIP code, the property is identified in the source information as being in West Philadelphia, with access to University City, local transit, and downtown Philadelphia. The layout supports both owner-occupancy and rental use, subject to applicable approvals for any basement conversion.
Key Highlights
- Two‑unit layout with 2‑bedroom and 3‑bedroom residences
- Full‑height basement with potential for third‑unit conversion
- Separate new heating systems for both floors
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
$23,919
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
8.70%
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%
$478,380
$478.4K
Cap Rate 7%
$341,700
$341.7K
Cap Rate 9%
$265,767
$265.8K
Market Conditions
NOI Build-Up for 2,208 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
$36.8K $16.68/SF
− Vacancy
−$2.7K −$1.20/SF
EGI
$34.2K $15.48/SF
− OpEx
−$10.3K −$4.64/SF
NOI
$23.9K $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%
$478,380
Cap Rate 7%
$341,700
Cap Rate 9%
$265,767
Alternative Uses
Best Use
Multifamily LT 5
$341.7K
$299.0K – $398.7K
NOI $23,919 @ 7.0% cap · market cap 8.70%
Second Best
Apartment 5plus
$303.9K
$265.9K – $354.6K
NOI $21,275 @ 7.0% cap · market cap 7.74%
Theoretical Best
Office A
$756.8K
$662.2K – $882.9K
NOI $52,975 @ 7.0% cap · market cap 19.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
926
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 - Two residential units offer separate heating and hot water systems, with central air serving one unit.
Where is this duplex located?
The property is located at 6015 Catharine Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Two‑unit layout with 2‑bedroom and 3‑bedroom residences; Full‑height basement with potential for third‑unit conversion; Separate new heating systems for both floors
