Remodeled Duplex with Private
For Sale
$429,000
Pending
709 Red Lion Road, Philadelphia, PA 19116
Remodeled duplex features private entrances, private laundry, and off-street parking with a rear yard.
Property Size1,846 SF
Days on Market96
Property Features for 709 Red Lion Road
General Information
Standard status
Pending
Size
1,846 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RTA1
Taxes and HOA fees
Annual Taxes
$5,410
Amenities
No
No Pool
Building Details
Year Built
1966
Year Renovated
2025
Tenancy
Multi
Listing Agency:
Heyer-Kemner Inc
Listed By:
John F Wogan · License #RM060356A
(215) 673-8100
Source:
Compass
Added: Jun 2
Changed: Aug 8
Last Checked: Jul 24 at 1:11PM
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 Heyer-Kemner Inc
Investment Insights
Based on property information with market context.
This duplex is in nice condition and includes private entrances for each unit, along with private laundry rooms. Both floors have been updated with new circuit breaker panels. A two-fixture bathroom was remodeled in July 2025, providing a more current finish within the property.
The building offers off-street parking in front and a rear yard. The property is described as very convenient to shopping and transportation, supporting day-to-day access for occupants.
For buyers seeking a straightforward residential income property, the unit separation and private laundry setup are practical features that can improve tenant convenience and day-to-day livability. The listing also notes that the current tenants are in place and in good standing, which may appeal to owner-occupants or investors looking for a managed, ready-to-rent setup.
The building offers off-street parking in front and a rear yard. The property is described as very convenient to shopping and transportation, supporting day-to-day access for occupants.
For buyers seeking a straightforward residential income property, the unit separation and private laundry setup are practical features that can improve tenant convenience and day-to-day livability. The listing also notes that the current tenants are in place and in good standing, which may appeal to owner-occupants or investors looking for a managed, ready-to-rent setup.
Key Highlights
- Remodeled duplex built in 1966 with private entrances for tenants
- 2 full bathrooms remodeled in July 2025
- Private laundry rooms 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
$31,502
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
7.34%
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%
$630,040
$630.0K
Cap Rate 7%
$450,029
$450.0K
Cap Rate 9%
$350,022
$350.0K
Market Conditions
NOI Build-Up for 1,846 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
$47.6K $25.80/SF
− Vacancy
−$2.6K −$1.42/SF
EGI
$45.0K $24.38/SF
− OpEx
−$13.5K −$7.31/SF
NOI
$31.5K $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%
$630,040
Cap Rate 7%
$450,029
Cap Rate 9%
$350,022
Alternative Uses
Best Use
Multifamily LT 5
$450.0K
$393.8K – $525.0K
NOI $31,502 @ 7.0% cap · market cap 7.34%
Second Best
Apartment 5plus
$414.8K
$363.0K – $484.0K
NOI $29,037 @ 7.0% cap · market cap 6.77%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
952
Businesses Nearby
Explore this area
Business Placement
Demographics for 19116, PA
35,610
Population
14,166
Households
2.5
Avg Household Size
43
Median Age
36%
College-Educated
90%
High-School Grad
5.2 sq mi
ZIP Area
6,848
Density / Sq Mi
$67,558
Median Household Income
$43,817
Median Earnings
$1,214
Median Rent
$321,400
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 - Remodeled duplex features private entrances, private laundry, and off-street parking with a rear yard.
Where is this duplex located?
The property is located at 709 Red Lion Road Philadelphia, PA.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Remodeled duplex built in 1966 with private entrances for tenants; 2 full bathrooms remodeled in July 2025; Private laundry rooms for each unit
