Brick Duplex with Two-Car
For Sale
$450,000
7979 Algon Ave, Philadelphia, PA 19111
All-brick duplex with two 2-bed, 1-bath units, separate utilities, in-unit washer/dryer, and a two-car garage.
Property Size1,964 SF
Price / SF$229.12
Days on Market82
Property Features for 7979 Algon Ave
General Information
Standard status
Active
Size
1,964 SF
Total Parking Spaces
2
Property subtype
Residential Income
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,448
Building Details
Tenancy
Multi
Listing Agency:
EXP Realty, LLC
(888) 397-7352
Listed By:
Craig A. Lerch Jr. · License #AB060964L
(215) 778-6805
Source:
Exprealty
Added: Jun 19
Changed: Sep 7
Last Checked: Sep 7 at 3:17PM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
All-brick duplex offering two separate 2-bedroom, 1-bath units. Each unit has separate utilities, and both benefit from in-building washer/dryer. The property also includes shared basement storage, hardwood floors, and a rear yard. A two-car garage adds off-street parking convenience for residents.
Located in Rhawnhurst in Northeast Philadelphia at 7979 Algon Avenue. The listing notes proximity to Roosevelt Boulevard, I-95, Woodhaven Road, and access routes to Center City. SEPTA bus connections are described as providing access to the Market-Frankford Line, Broad Street Line, and regional rail.
Both units are currently occupied, with leases referenced in the document area. This configuration supports an owner-occupant plan where one unit can be lived in while the other provides rental income.
Located in Rhawnhurst in Northeast Philadelphia at 7979 Algon Avenue. The listing notes proximity to Roosevelt Boulevard, I-95, Woodhaven Road, and access routes to Center City. SEPTA bus connections are described as providing access to the Market-Frankford Line, Broad Street Line, and regional rail.
Both units are currently occupied, with leases referenced in the document area. This configuration supports an owner-occupant plan where one unit can be lived in while the other provides rental income.
Key Highlights
- All‑brick duplex built in 1960 with two 2‑bedroom, 1‑bath units
- Each unit has separate utilities for tenant‑by‑tenant convenience
- In‑building washer/dryer in both units
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
$26,369
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
5.86%
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%
$527,380
$527.4K
Cap Rate 7%
$376,700
$376.7K
Cap Rate 9%
$292,989
$293.0K
Market Conditions
NOI Build-Up for 1,964 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
$38.9K $19.80/SF
− Vacancy
−$1.2K −$0.62/SF
EGI
$37.7K $19.18/SF
− OpEx
−$11.3K −$5.75/SF
NOI
$26.4K $13.43/SF
Area
ZIP 19111
Vacancy
3.13%
Lease Rate
$19.80 /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%
$527,380
Cap Rate 7%
$376,700
Cap Rate 9%
$292,989
Alternative Uses
Best Use
Multifamily LT 5
$376.7K
$329.6K – $439.5K
NOI $26,369 @ 7.0% cap · market cap 5.86%
Second Best
Apartment 5plus
$347.4K
$304.0K – $405.3K
NOI $24,317 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$595.5K
$521.0K – $694.7K
NOI $41,683 @ 7.0% cap · market cap 9.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
910
Businesses Nearby
Explore this area
Business Placement
Demographics for 19111, PA
67,017
Population
27,518
Households
2.4
Avg Household Size
38
Median Age
25%
College-Educated
86%
High-School Grad
4.8 sq mi
ZIP Area
13,962
Density / Sq Mi
$60,441
Median Household Income
$39,065
Median Earnings
$1,221
Median Rent
$244,000
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 - All-brick duplex with two 2-bed, 1-bath units, separate utilities, in-unit washer/dryer, and a two-car garage.
Where is this duplex located?
The property is located at 7979 Algon Ave Philadelphia, PA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: All‑brick duplex built in 1960 with two 2‑bedroom, 1‑bath units; Each unit has separate utilities for tenant‑by‑tenant convenience; In‑building washer/dryer in both units
