Duplex Income
618 South 3rd Street Philadelphia, PA 19147
For Sale
$625,000
Two-unit duplex with current leases through 6/28/26 and a deep 80' lot.
Property Size1,702 SF
Price / SF$367.22
Days on Market150
Property Features for 618 South 3rd Street
General Information
- Standard status
- Active
- Size
- 1,702 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1915
Listing Agency:
Keller Williams Philly
(215) 709-4141
Listed By:
Michael R. McCann · License #AB049770L
(215) 709-4141
Source:
Compass
Added: Feb 24
Changed: Jul 23
Last Checked: Jul 23 at 10:28AM
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 Philly
Investment Insights
Based on property information with market context.
This duplex income property at 618 South 3rd Street consists of two separate apartments, Apt A and Apt B, each with in-place lease terms running through 6/28/26. Apt A is leased for $1,825/month plus a $45/month water reimbursement, and Apt B is leased for $1,900/month plus a $55/month water reimbursement. Photos are noted as being from a prior listing.
The property is located in Queen Village in Philadelphia on an extra-large, 80' deep lot.
For investors seeking steady occupancy, the current lease structure provides defined rental terms through mid-2026.
The property is located in Queen Village in Philadelphia on an extra-large, 80' deep lot.
For investors seeking steady occupancy, the current lease structure provides defined rental terms through mid-2026.
Key Highlights
- Two‑unit duplex with current leases through 6/28/26 for in‑place income
- 618 S 3rd St Apt A rents for $1,825/month plus $45/month water reimbursement
- 618 S 3rd St Apt B rents for $1,900/month plus $55/month water reimbursement
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.9k | $25.80 |
| − Vacancy | −$2.4k | −$1.42 |
| EGI | $41.5k | $24.38 |
| − OpEx | −$12.4k | −$7.31 |
| NOI | $29.0k | $17.06 |
1,702 SF · lease $25.80/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$414.9K
$363.1K – $484.1K
NOI $29,044 @ 7.0% cap · market cap 4.65%
Second Best
Apartment 5plus
$382.5K
$334.7K – $446.2K
NOI $26,772 @ 7.0% cap · market cap 4.28%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two-unit duplex with current leases through 6/28/26 and a deep 80' lot.
Where is this duplex located?
The property is located at 618 South 3rd Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Two‑unit duplex with current leases through 6/28/26 for in‑place income; 618 S 3rd St Apt A rents for $1,825/month plus $45/month water reimbursement; 618 S 3rd St Apt B rents for $1,900/month plus $55/month water reimbursement
