Two-Unit Brick
For Sale
Under Contract
$450,000
7979 ALGON Avenue, Philadelphia, PA 19111
MULTI_FAMILY - Other - PHILADELPHIA, PA
Property Size1,964 SF
Lot Size0.07 Acres
Price / SF$229.12
Days on Market52
Property Features for 7979 ALGON Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking
1
Parking features
Garage - Attached, Driveway
Subdivision
RHAWNHURST
Elementary school district
PHILADELPHIA CITY
Middle school district
PHILADELPHIA CITY
High school district
PHILADELPHIA CITY
Standard status
Active Under Contract
Size
1,964 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
4448
Utilities
Heating system
Other (Heating)
Amenities
in-building washer/dryer
shared basement storage
rear yard
Building Details
Year built
1960
Number of units
1
Building materials
Masonry
Architectural style
Other
Listing Agency:
EXP Realty, LLC
(888) 397-7352
Listed By:
Craig A. Lerch Jr. · License #AB060964L
(215) 778-6805
Added: Jun 22
Changed: Aug 11
Last Checked: Aug 12 at 12:06PM
MLS# PAPH2619970
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
7979 ALGON Avenue presents an income-generating, all-brick duplex with two separate 2-bedroom, 1-bath units. Each unit includes its own utility setup, along with in-building washer/dryer access and bright, open layouts with hardwood floors. The property also offers shared basement storage and a two-car garage, plus a rear yard for outdoor use.
Both units are currently occupied under existing leases (per documents). The duplex is located in Rhawnhurst in Northeast Philadelphia, with stated proximity to Roosevelt Boulevard, I-95, Woodhaven Road, and Center City. Public transportation is described as steps away, with SEPTA bus connections to the Market-Frankford Line elevated train, the Broad Street Line, and regional rail.
For buyers looking for an owner-occupant or investor structure, the setup supports living in one unit while collecting rent from the other, with tenants already in place.
Both units are currently occupied under existing leases (per documents). The duplex is located in Rhawnhurst in Northeast Philadelphia, with stated proximity to Roosevelt Boulevard, I-95, Woodhaven Road, and Center City. Public transportation is described as steps away, with SEPTA bus connections to the Market-Frankford Line elevated train, the Broad Street Line, and regional rail.
For buyers looking for an owner-occupant or investor structure, the setup supports living in one unit while collecting rent from the other, with tenants already in place.
Key Highlights
- All‑brick duplex built in 1960 with two 2‑bedroom, 1‑bath units
- Each unit has separate utilities
- Garage - attached parking plus driveway
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-bedroom, 1-bath units, separate utilities, and in-building washer/dryer.
Where is this duplex located?
The property is located at 7979 ALGON Avenue 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; Garage - attached parking plus driveway
