Renovated Duplex with Two
For Sale
$665,000
612 N 39TH STREET, Philadelphia, PA 19104
Fully renovated duplex with separate laundry in each residence and one vacant unit ready for occupancy.
Property Size2,064 SF
Days on Market114
Property Features for 612 N 39TH STREET
General Information
Standard status
Active
Size
2,064 SF
Property subtype
Duplex
Units
Unit Mix
1 x 4BD/2BA, 1 x 3BD/2BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$1,609
Amenities
washer and dryer
Building Details
Building Size
2,064 SF
Year Built
1920
Listing Agency:
Keller Williams Real Estate
Listed By:
Brittany Nettles · License #RS337439
(215) 778-8444
Source:
Patmckennarealtors
Added: May 18
Changed: Aug 29
Last Checked: Sep 7 at 10:02AM
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 Keller Williams Real Estate
Investment Insights
Based on property information with market context.
Built in 1920, this duplex contains two separately configured residences: a 4-bedroom, 2-bath unit and a 3-bedroom, 2-bath unit. Both include dedicated washer and dryer setups. The property has undergone a full renovation incorporating contemporary finishes while retaining original architectural elements. One residence is vacant, while the other remains occupied through 5/31/27. A 10-year tax abatement is also in place.
The property is located at 612 N 39th St in Philadelphia’s Mantua neighborhood, with proximity to Drexel University, Penn, and Center City. Nearby restaurants, cafes, shops, parks, and cultural destinations add to the surrounding amenities, while major transit routes provide access throughout the city.
The property is located at 612 N 39th St in Philadelphia’s Mantua neighborhood, with proximity to Drexel University, Penn, and Center City. Nearby restaurants, cafes, shops, parks, and cultural destinations add to the surrounding amenities, while major transit routes provide access throughout the city.
Key Highlights
- Two‑unit duplex with one 4 BD/2 BA residence and one 3 BD/2 BA residence
- Fully renovated with modern finishes and retained original architectural elements
- Separate washer and dryer for each unit
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
$35,222
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
5.30%
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%
$704,440
$704.4K
Cap Rate 7%
$503,171
$503.2K
Cap Rate 9%
$391,356
$391.4K
Market Conditions
NOI Build-Up for 2,064 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
$53.3K $25.80/SF
− Vacancy
−$2.9K −$1.42/SF
EGI
$50.3K $24.38/SF
− OpEx
−$15.1K −$7.31/SF
NOI
$35.2K $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%
$704,440
Cap Rate 7%
$503,171
Cap Rate 9%
$391,356
Alternative Uses
Best Use
Multifamily LT 5
$503.2K
$440.3K – $587.0K
NOI $35,222 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$463.8K
$405.8K – $541.1K
NOI $32,466 @ 7.0% cap · market cap 4.88%
Theoretical Best
—
—
same as Best Use
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
4,686
Businesses Nearby
Explore this area
Business Placement
Demographics for 19104, PA
56,839
Population
23,888
Households
2.4
Avg Household Size
26
Median Age
47%
College-Educated
90%
High-School Grad
3.1 sq mi
ZIP Area
18,335
Density / Sq Mi
$39,526
Median Household Income
$18,420
Median Earnings
$1,329
Median Rent
$268,200
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 - Fully renovated duplex with separate laundry in each residence and one vacant unit ready for occupancy.
Where is this duplex located?
The property is located at 612 N 39TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $665,000.
What are key features of this property?
This property features: Two‑unit duplex with one 4 BD/2 BA residence and one 3 BD/2 BA residence; Fully renovated with modern finishes and retained original architectural elements; Separate washer and dryer for each unit
