Two-Unit Residential Income
For Sale
$319,999
6220 Algon Avenue, Philadelphia, PA 19111
Two-unit duplex with 1-bedroom and 2-bedroom layouts plus ground-level laundry, utility, storage, and semi-finished bonus space.
Property Size1,600 SF
Price / SF$199
Days on Market175
Property Features for 6220 Algon Avenue
General Information
Standard status
Active
Size
1,600 SF
Total Parking Spaces
2
Property subtype
Multi-Family / Fee Simple
Zoning
RSA5
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,953
Amenities
No
Dryer, Oven/Range - Gas, Refrigerator, Range Hood, Washer
Ceiling Fan(s)
No Pool
Above Grade, Below Grade
Building Details
Year Built
1951
Listing Agency:
Homelink Realty
Listed By:
Hongyan Li · License #RSR002373
(215) 535-0898
Source:
Compass
Added: Mar 16
Changed: Aug 8
Last Checked: Jul 21 at 5:48AM
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 Homelink Realty
Investment Insights
Based on property information with market context.
This two-unit duplex offers two separate residential units along with additional ground-level space. Unit 1 includes 1 bedroom and 1 full bathroom with access to shared common areas. Unit 2 is located on the second floor and features 2 bedrooms and 1 full bathroom. The ground level includes a laundry area, utility room, storage, and a semi-finished area that can support a variety of uses.
The property is located in Philadelphia, within MLS area 19111. Public transportation is available via a bus stop located less than 1 mile from the property, and the school district is listed as PHILADELPHIA CITY.
The property is being sold in “As-Is” condition.
The property is located in Philadelphia, within MLS area 19111. Public transportation is available via a bus stop located less than 1 mile from the property, and the school district is listed as PHILADELPHIA CITY.
The property is being sold in “As-Is” condition.
Key Highlights
- Two‑unit duplex in Oxford Circle; Unit 1 has 1 bed and 1 full bath, and Unit 2 has 2 beds and 1 full bath
- Second‑floor Unit 2 layout includes 2 bedrooms and 1 full bathroom
- Ground level offers laundry area, utility room, storage, and a semi‑finished bonus space with flexible use
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
$21,482
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
6.71%
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%
$429,640
$429.6K
Cap Rate 7%
$306,886
$306.9K
Cap Rate 9%
$238,689
$238.7K
Market Conditions
NOI Build-Up for 1,600 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
$31.7K $19.80/SF
− Vacancy
−$992 −$0.62/SF
EGI
$30.7K $19.18/SF
− OpEx
−$9.2K −$5.75/SF
NOI
$21.5K $13.43/SF
Area
ZIP 19111
Vacancy
3.13%
Lease Rate
$19.80 /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%
$429,640
Cap Rate 7%
$306,886
Cap Rate 9%
$238,689
Alternative Uses
Best Use
Multifamily LT 5
$306.9K
$268.5K – $358.0K
NOI $21,482 @ 7.0% cap · market cap 6.71%
Second Best
Apartment 5plus
$283.0K
$247.6K – $330.2K
NOI $19,810 @ 7.0% cap · market cap 6.19%
Theoretical Best
Office A
$485.1K
$424.5K – $566.0K
NOI $33,957 @ 7.0% cap · market cap 10.61%
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
829
Businesses Nearby
Explore this area
Business Placement
Demographics for 19111, PA
67,017
Population
27,518
Households
2.4
Avg Household Size
38
Median Age
25%
College-Educated
86%
High-School Grad
4.8 sq mi
ZIP Area
13,962
Density / Sq Mi
$60,441
Median Household Income
$39,065
Median Earnings
$1,221
Median Rent
$244,000
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-unit duplex with 1-bedroom and 2-bedroom layouts plus ground-level laundry, utility, storage, and semi-finished bonus space.
Where is this duplex located?
The property is located at 6220 Algon Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $319,999.
What are key features of this property?
This property features: Two‑unit duplex in Oxford Circle; Unit 1 has 1 bed and 1 full bath, and Unit 2 has 2 beds and 1 full bath; Second‑floor Unit 2 layout includes 2 bedrooms and 1 full bathroom; Ground level offers laundry area, utility room, storage, and a semi‑finished bonus space with flexible use
