Bi-Level Residential Income
New
For Sale
$295,000
627 N 18TH STREET Unit 103, Philadelphia, PA 19130
Condominium residence with mezzanine bedroom, renovated kitchen, gated entry, and in-unit laundry.
Property Size840 SF
Price / SF$368.75
Days on Market6
Property Features for 627 N 18TH STREET Unit 103
General Information
Standard status
Active
Size
840 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,623
Amenities
gated entry
European-style courtyard with fountain and lantern lighting
glass-enclosed atrium
in-unit washer/dryer
central air
Building Details
Building Size
840 SF
Year Built
1900
Listing Agency:
SDG Management, LLC
Listed By:
Stephen D. Stafford · License #RM424801
(609) 335-4016
Source:
Patmckennarealtors
Added: Sep 10
Changed: Sep 13
Last Checked: Sep 14 at 7:54AM
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 SDG Management, LLC
Investment Insights
Based on property information with market context.
Unit 103 at The Carriage House is an 800 SF bi-level condominium residence with a foyer, combined living and dining area, mezzanine bedroom level, full bath, and in-unit washer/dryer. The interior includes hardwood flooring, an 18-foot ceiling, and a renovated kitchen equipped with granite countertops, an eating bar, and stainless steel appliances. Central air completes the layout.
The 32-unit condominium occupies a converted 1900 building with a glass-enclosed atrium, gated entry, and a European-style courtyard featuring a fountain and lantern lighting. The property is positioned near Whole Foods, Fairmount Avenue dining, the Art Museum, the Barnes, and Eastern State Penitentiary. Walk Score and Transit Score are both 100, with the Fairmount Broad Street Line station within a short walk.
The 32-unit condominium occupies a converted 1900 building with a glass-enclosed atrium, gated entry, and a European-style courtyard featuring a fountain and lantern lighting. The property is positioned near Whole Foods, Fairmount Avenue dining, the Art Museum, the Barnes, and Eastern State Penitentiary. Walk Score and Transit Score are both 100, with the Fairmount Broad Street Line station within a short walk.
Key Highlights
- 800 SF bi‑level condominium residence with mezzanine bedroom level
- 18‑foot ceilings and hardwood flooring throughout
- Renovated kitchen with granite counters, eating bar, and stainless steel appliances
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
$12,584
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
4.27%
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%
$251,680
$251.7K
Cap Rate 7%
$179,771
$179.8K
Cap Rate 9%
$139,822
$139.8K
Market Conditions
NOI Build-Up for 800 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
$24.3K $30.36/SF
− Vacancy
−$1.4K −$1.76/SF
EGI
$22.9K $28.60/SF
− OpEx
−$10.3K −$12.87/SF
NOI
$12.6K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$251,680
Cap Rate 7%
$179,771
Cap Rate 9%
$139,822
Alternative Uses
Best Use
Apartment 5plus
$179.8K
$157.3K – $209.7K
NOI $12,584 @ 7.0% cap · market cap 4.27%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$195.0K
$170.7K – $227.5K
NOI $13,652 @ 7.0% cap · market cap 4.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,093
Businesses Nearby
Explore this area
Business Placement
Demographics for 19130, PA
31,477
Population
18,178
Households
1.7
Avg Household Size
34
Median Age
78%
College-Educated
98%
High-School Grad
1.2 sq mi
ZIP Area
26,231
Density / Sq Mi
$110,436
Median Household Income
$76,051
Median Earnings
$1,836
Median Rent
$483,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence with mezzanine bedroom, renovated kitchen, gated entry, and in-unit laundry.
Where is this residential income property located?
The property is located at 627 N 18TH STREET Unit 103 Philadelphia, PA.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: 800 SF bi‑level condominium residence with mezzanine bedroom level; 18‑foot ceilings and hardwood flooring throughout; Renovated kitchen with granite counters, eating bar, and stainless steel appliances
