Renovated Two-Unit
For Sale
$266,000
6400 GLENMORE AVENUE, Philadelphia, PA 19142
Two updated apartments offer separate utilities and flexible owner-occupant or rental use.
Property Size1,056 SF
Days on Market61
Property Features for 6400 GLENMORE AVENUE
General Information
Standard status
Active
Size
1,056 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Furnished
No
Taxes and HOA fees
Annual Taxes
$1,440
Building Details
Building Size
1,056 SF
Year Built
1920
Buildings
1
Listing Agency:
NextHome Virtue Realty
Listed By:
Shay Marie Taylor
(267) 992-8446
Source:
Patmckennarealtors
Added: Jul 10
Changed: Sep 5
Last Checked: Sep 8 at 11:35AM
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 NextHome Virtue Realty
Investment Insights
Based on property information with market context.
This duplex contains two 1-bedroom, 1-bath apartments within 1,056 square feet. Both units have been renovated with updated kitchens, refreshed bathrooms, and modernized living areas. Separate utilities serve each apartment, and the property was built in 1920.
Located in Southwest Philadelphia, the property is near public transportation, shopping, schools, and major highways. The two-unit layout supports multiple occupancy approaches, including living in one apartment while renting the other or leasing both units.
Located in Southwest Philadelphia, the property is near public transportation, shopping, schools, and major highways. The two-unit layout supports multiple occupancy approaches, including living in one apartment while renting the other or leasing both units.
Key Highlights
- Two 1‑bedroom, 1‑bath apartments
- 1,056 SF duplex built in 1920
- Separate utilities 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
$18,021
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
6.77%
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%
$360,420
$360.4K
Cap Rate 7%
$257,443
$257.4K
Cap Rate 9%
$200,233
$200.2K
Market Conditions
NOI Build-Up for 1,056 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
$27.2K $25.80/SF
− Vacancy
−$1.5K −$1.42/SF
EGI
$25.7K $24.38/SF
− OpEx
−$7.7K −$7.31/SF
NOI
$18.0K $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%
$360,420
Cap Rate 7%
$257,443
Cap Rate 9%
$200,233
Alternative Uses
Best Use
Multifamily LT 5
$257.4K
$225.3K – $300.4K
NOI $18,021 @ 7.0% cap · market cap 6.77%
Second Best
Apartment 5plus
$237.3K
$207.6K – $276.8K
NOI $16,610 @ 7.0% cap · market cap 6.24%
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
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,296
Businesses Nearby
Explore this area
Business Placement
Demographics for 19142, PA
29,565
Population
12,943
Households
2.3
Avg Household Size
33
Median Age
13%
College-Educated
82%
High-School Grad
1.7 sq mi
ZIP Area
17,391
Density / Sq Mi
$42,812
Median Household Income
$32,763
Median Earnings
$1,269
Median Rent
$110,400
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 updated apartments offer separate utilities and flexible owner-occupant or rental use.
Where is this duplex located?
The property is located at 6400 GLENMORE AVENUE Philadelphia, PA.
What is the asking price?
The asking price for this property is $266,000.
What are key features of this property?
This property features: Two 1‑bedroom, 1‑bath apartments; 1,056 SF duplex built in 1920; Separate utilities for each unit
