Bi-Level Residential Income
For Sale
$276,000
744 S 22ND STREET Unit 1B, Philadelphia, PA 19146
Two-bedroom layout with a ceramic-tile bath, fenced patio, and flexible lower-level space.
Property Size806 SF
Days on Market8
Property Features for 744 S 22ND STREET Unit 1B
General Information
Standard status
Active
Size
806 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,328
Building Details
Building Size
806 SF
Year Built
1900
Listing Agency:
Tara Management Services Inc
Listed By:
Beverly E Kessler-Rosa · License #RM050680A
(215) 985-4855
Source:
Patmckennarealtors
Added: Sep 9
Changed: Sep 11
Last Checked: Sep 15 at 11:40AM
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 Tara Management Services Inc
Investment Insights
Based on property information with market context.
This bi-level residential income property, built in 1900, offers a two-bedroom arrangement across an entry level and lower level. The main level includes both bedrooms, a full three-piece ceramic tile bath, and access to a large fenced patio. Downstairs, an open area is paired with a fully equipped kitchen, washer and dryer, and useful closet storage.
The property is positioned across from University City. Current tenant occupancy includes two dogs, and showings are available Tuesday through Friday after 2 p.m. and on Saturdays beginning 9/15/2026. The property will not be accessed through a lockbox.
The property is positioned across from University City. Current tenant occupancy includes two dogs, and showings are available Tuesday through Friday after 2 p.m. and on Saturdays beginning 9/15/2026. The property will not be accessed through a lockbox.
Key Highlights
- Bi‑level layout with two bedrooms on the entry level
- Full three‑piece ceramic tile bathroom
- Large fenced patio
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
$12,678
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
4.59%
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%
$253,560
$253.6K
Cap Rate 7%
$181,114
$181.1K
Cap Rate 9%
$140,867
$140.9K
Market Conditions
NOI Build-Up for 806 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
$24.5K $30.36/SF
− Vacancy
−$1.4K −$1.76/SF
EGI
$23.1K $28.60/SF
− OpEx
−$10.4K −$12.87/SF
NOI
$12.7K $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%
$253,560
Cap Rate 7%
$181,114
Cap Rate 9%
$140,867
Alternative Uses
Best Use
Apartment 5plus
$181.1K
$158.5K – $211.3K
NOI $12,678 @ 7.0% cap · market cap 4.59%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$196.5K
$171.9K – $229.2K
NOI $13,754 @ 7.0% cap · market cap 4.98%
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
2,513
Businesses Nearby
Explore this area
Business Placement
Demographics for 19146, PA
41,920
Population
22,182
Households
1.9
Avg Household Size
34
Median Age
65%
College-Educated
94%
High-School Grad
1.7 sq mi
ZIP Area
24,659
Density / Sq Mi
$99,702
Median Household Income
$68,849
Median Earnings
$1,708
Median Rent
$452,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom layout with a ceramic-tile bath, fenced patio, and flexible lower-level space.
Where is this residential income property located?
The property is located at 744 S 22ND STREET Unit 1B Philadelphia, PA.
What is the asking price?
The asking price for this property is $276,000.
What are key features of this property?
This property features: Bi‑level layout with two bedrooms on the entry level; Full three‑piece ceramic tile bathroom; Large fenced patio
