Modernized
For Sale
$350,000
6037 DELANCEY STREET, Philadelphia, PA 19143
Two residential units feature updated kitchens, bathrooms, windows, plumbing, and electrical systems.
Property Size1,320 SF
Days on Market9
Property Features for 6037 DELANCEY STREET
General Information
Standard status
Active
Size
1,320 SF
Property subtype
Duplex
Units
Unit Mix
1 x 2BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,927
Building Details
Building Size
1,320 SF
Year Built
1925
Buildings
1
Listing Agency:
HomeZu by Simple Choice
Listed By:
Christopher J Carr · License #RM420776
(855) 885-4663
Source:
Patmckennarealtors
Added: Aug 28
Changed: Sep 4
Last Checked: Sep 4 at 9:39AM
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 HomeZu by Simple Choice
Investment Insights
Based on property information with market context.
Located at 6037 Delancey Street in Philadelphia, this legal duplex was originally built in 1925 and has undergone a comprehensive interior rehabilitation. The property includes updated kitchens with new cabinetry, backsplashes, countertops, stainless-steel appliances, and designer fixtures. Modern bathrooms feature walk-in showers, while new windows, electrical wiring, plumbing, solid wood doors, and luxury vinyl plank flooring complete the improvements. A mini-split system provides heating and cooling throughout the home.
The first-floor residence offers two bedrooms, two full bathrooms, and a finished basement. The second-floor unit contains two bedrooms and one full bathroom, creating a two-unit configuration with distinct layouts. The address is in Philadelphia’s Cobbs Creek area of West Philadelphia.
The first-floor residence offers two bedrooms, two full bathrooms, and a finished basement. The second-floor unit contains two bedrooms and one full bathroom, creating a two-unit configuration with distinct layouts. The address is in Philadelphia’s Cobbs Creek area of West Philadelphia.
Key Highlights
- Legal duplex at 6037 Delancey Street in Philadelphia
- First‑floor unit includes 2 bedrooms, 2 full bathrooms, and a finished basement
- Second‑floor unit offers 2 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
$14,300
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
4.09%
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%
$286,000
$286.0K
Cap Rate 7%
$204,286
$204.3K
Cap Rate 9%
$158,889
$158.9K
Market Conditions
NOI Build-Up for 1,320 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
$22.0K $16.68/SF
− Vacancy
−$1.6K −$1.20/SF
EGI
$20.4K $15.48/SF
− OpEx
−$6.1K −$4.64/SF
NOI
$14.3K $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%
$286,000
Cap Rate 7%
$204,286
Cap Rate 9%
$158,889
Alternative Uses
Best Use
Multifamily LT 5
$204.3K
$178.8K – $238.3K
NOI $14,300 @ 7.0% cap · market cap 4.09%
Second Best
Apartment 5plus
$181.7K
$159.0K – $212.0K
NOI $12,719 @ 7.0% cap · market cap 3.63%
Theoretical Best
Office A
$452.4K
$395.9K – $527.8K
NOI $31,670 @ 7.0% cap · market cap 9.05%
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
1,463
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 feature updated kitchens, bathrooms, windows, plumbing, and electrical systems.
Where is this duplex located?
The property is located at 6037 DELANCEY STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Legal duplex at 6037 Delancey Street in Philadelphia; First‑floor unit includes 2 bedrooms, 2 full bathrooms, and a finished basement; Second‑floor unit offers 2 bedrooms and 1 full bathroom
