Two-Story Duplex with Separate
7406 Elmwood Avenue Philadelphia, PA 19153
For Sale
$219,999
Two separate apartment units with independent utilities and basement storage, suited for rental income or owner occupancy.
Property Size1,281 SF
Price / SF$171.74
Days on Market67
Property Features for 7406 Elmwood Avenue
General Information
- Standard status
- Active
- Size
- 1,281 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1925
Listing Agency:
Keller Williams Real Estate-Langhorne
(215) 292-3886
Listed By:
Brian P Gunn · License #RS317067
(215) 292-3886
Source:
Compass
Added: May 21
Changed: Jul 10
Last Checked: Jul 25 at 11:52AM
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 Keller Williams Real Estate-Langhorne
Investment Insights
Based on property information with market context.
This well-maintained, two-story duplex features two separate apartments: a one-bedroom unit on the first floor and a two-bedroom unit on the second floor. Each unit has its own utilities, supporting tenant independence and straightforward occupancy management. The property also includes a full basement that provides additional storage space.
The home is located in Philadelphia County (MLS Area 19153), and is described as convenient to shopping, dining, transportation, and major routes, supporting everyday accessibility for residents.
From an occupancy standpoint, the split layout offers flexibility for investors seeking rental income or owner-occupants who want to offset expenses with a second unit. Current rent is $750 for the first-floor unit and $650 for the second-floor unit, with leases expiring 11/1/26, allowing for near-term planning based on the timing of renewals or transitions.
The home is located in Philadelphia County (MLS Area 19153), and is described as convenient to shopping, dining, transportation, and major routes, supporting everyday accessibility for residents.
From an occupancy standpoint, the split layout offers flexibility for investors seeking rental income or owner-occupants who want to offset expenses with a second unit. Current rent is $750 for the first-floor unit and $650 for the second-floor unit, with leases expiring 11/1/26, allowing for near-term planning based on the timing of renewals or transitions.
Key Highlights
- Two‑story duplex built in 1925 with 1,281 sq. ft. total living space
- Two separate units: 1‑bedroom on the first floor and 2‑bedroom on the second floor
- Each unit has separate utilities
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $38.9k | $30.36 |
| − Vacancy | −$2.3k | −$1.76 |
| EGI | $36.6k | $28.60 |
| − OpEx | −$16.5k | −$12.87 |
| NOI | $20.1k | $15.73 |
1,281 SF · lease $30.36/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$312.3K
$273.3K – $364.3K
NOI $21,860 @ 7.0% cap · market cap 9.94%
Second Best
Apartment 5plus
$287.9K
$251.9K – $335.8K
NOI $20,150 @ 7.0% cap · market cap 9.16%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two separate apartment units with independent utilities and basement storage, suited for rental income or owner occupancy.
Where is this duplex located?
The property is located at 7406 Elmwood Avenue Philadelphia, PA.
What is the asking price?
The asking price for this property is $219,999.
What are key features of this property?
This property features: Two‑story duplex built in 1925 with 1,281 sq. ft. total living space; Two separate units: 1‑bedroom on the first floor and 2‑bedroom on the second floor; Each unit has separate utilities
