Updated Two-Unit
For Sale
$369,000
Pending
6299 KINDRED STREET, Philadelphia, PA 19149
Corner-lot rental property with licensed two-unit use, separate utilities, driveway parking, and shared basement laundry and storage.
Property Size1,600 SF
Days on Market28
Property Features for 6299 KINDRED STREET
General Information
Standard status
Pending
Size
1,600 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$3,472
Building Details
Building Size
1,600 SF
Year Built
1950
Listing Agency:
Compass Pennsylvania, LLC
Listed By:
Justin B Willis · License #RS306930
(267) 230-9920
Source:
Mainlinekw
Added: Aug 13
Changed: Aug 23
Last Checked: Aug 22 at 12:00PM
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 Compass Pennsylvania, LLC
Investment Insights
Based on property information with market context.
Built in 1950, this duplex offers two two-bedroom residences on a corner lot. The upper apartment includes luxury vinyl plank flooring, a new kitchen, and a newly installed stove. The first-floor unit is being refreshed with new paint, flooring, and light fixtures. Both apartments have dedicated driveway parking, while the first-floor residence also has private yard access.
An above-grade basement supports both units with shared laundry and substantial storage. Separate gas and electric service for each apartment simplifies utility management. The property holds an active 2-unit rental license and is currently presented without existing tenants, allowing the next owner to establish lease terms and occupancy plans.
The property is near shopping, dining, public transportation, Roosevelt Boulevard commuter routes, SEPTA Regional Rail, and the Frankford Transportation Center. Projected income and typical self-managed operating expenses support a 9.73% cap rate.
An above-grade basement supports both units with shared laundry and substantial storage. Separate gas and electric service for each apartment simplifies utility management. The property holds an active 2-unit rental license and is currently presented without existing tenants, allowing the next owner to establish lease terms and occupancy plans.
The property is near shopping, dining, public transportation, Roosevelt Boulevard commuter routes, SEPTA Regional Rail, and the Frankford Transportation Center. Projected income and typical self-managed operating expenses support a 9.73% cap rate.
Key Highlights
- Active 2‑unit rental license
- 9.73% cap rate based on projected income and typical self‑managed operating expenses
- Two two‑bedroom apartments with dedicated driveway parking
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
$22,784
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
6.17%
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%
$455,680
$455.7K
Cap Rate 7%
$325,486
$325.5K
Cap Rate 9%
$253,156
$253.2K
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
$33.6K $21.00/SF
− Vacancy
−$1.1K −$0.66/SF
EGI
$32.5K $20.34/SF
− OpEx
−$9.8K −$6.10/SF
NOI
$22.8K $14.24/SF
Area
ZIP 19149
Vacancy
3.13%
Lease Rate
$21.00 /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%
$455,680
Cap Rate 7%
$325,486
Cap Rate 9%
$253,156
Alternative Uses
Best Use
Apartment 5plus
$3.06M
$2.68M – $3.57M
NOI $214,442 @ 7.0% cap · market cap 58.11%
Second Best
Multifamily LT 5
$325.5K
$284.8K – $379.7K
NOI $22,784 @ 7.0% cap · market cap 6.17%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,379
Businesses Nearby
Explore this area
Business Placement
Demographics for 19149, PA
60,408
Population
20,810
Households
2.9
Avg Household Size
33
Median Age
15%
College-Educated
76%
High-School Grad
2.4 sq mi
ZIP Area
25,170
Density / Sq Mi
$54,679
Median Household Income
$33,111
Median Earnings
$1,484
Median Rent
$198,200
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 - Corner-lot rental property with licensed two-unit use, separate utilities, driveway parking, and shared basement laundry and storage.
Where is this duplex located?
The property is located at 6299 KINDRED STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: Active 2‑unit rental license; 9.73% cap rate based on projected income and typical self‑managed operating expenses; Two two‑bedroom apartments with dedicated driveway parking
