Residential Income Property with
For Sale
$280,000
801 N 17TH STREET Unit 2, Philadelphia, PA 19130
Leased two-bedroom flat with upgraded finishes, private outdoor space, and a remaining tax abatement.
Property Size1,019 SF
Days on Market10
Property Features for 801 N 17TH STREET Unit 2
General Information
Standard status
Active
Size
1,019 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,146
Building Details
Building Size
1,019 SF
Year Built
1920
Listing Agency:
Realty Mark Cityscape
Listed By:
Kevin Gov · License #RS335824
(267) 939-0147
Source:
Patmckennarealtors
Added: Aug 31
Changed: Sep 8
Last Checked: Sep 8 at 11:24AM
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 Realty Mark Cityscape
Investment Insights
Based on property information with market context.
This residential income property is a 2-bedroom, 2-bath flat with a private balcony and an open-concept interior. The kitchen includes an island, stainless steel appliances, quartz countertops, and a subway tile backsplash. Hardwood flooring and oversized windows serve the living and dining areas, while a full-size washer and dryer add convenience. Both bedrooms offer substantial closet space. The bathrooms feature Porcelanosa tile and fixtures, with the primary suite adding a private bath, oversized walk-in shower, and double vanities.
Built in 1920, the unit is currently leased and includes a remaining tax abatement. The property is positioned two blocks from Fairmount Ave and Broad Street, with restaurants, cafes, City Hall, and the Comcast Center nearby.
Built in 1920, the unit is currently leased and includes a remaining tax abatement. The property is positioned two blocks from Fairmount Ave and Broad Street, with restaurants, cafes, City Hall, and the Comcast Center nearby.
Key Highlights
- 2‑bedroom, 2‑bath flat with a private balcony
- Currently leased with a remaining tax abatement
- Open‑concept plan with island kitchen and upgraded stainless steel appliances
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
$16,028
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
5.72%
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%
$320,560
$320.6K
Cap Rate 7%
$228,971
$229.0K
Cap Rate 9%
$178,089
$178.1K
Market Conditions
NOI Build-Up for 1,019 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
$30.9K $30.36/SF
− Vacancy
−$1.8K −$1.76/SF
EGI
$29.1K $28.60/SF
− OpEx
−$13.1K −$12.87/SF
NOI
$16.0K $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%
$320,560
Cap Rate 7%
$228,971
Cap Rate 9%
$178,089
Alternative Uses
Best Use
Apartment 5plus
$229.0K
$200.4K – $267.1K
NOI $16,028 @ 7.0% cap · market cap 5.72%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$248.4K
$217.4K – $289.8K
NOI $17,389 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,093
Businesses Nearby
Explore this area
Business Placement
Demographics for 19130, PA
31,477
Population
18,178
Households
1.7
Avg Household Size
34
Median Age
78%
College-Educated
98%
High-School Grad
1.2 sq mi
ZIP Area
26,231
Density / Sq Mi
$110,436
Median Household Income
$76,051
Median Earnings
$1,836
Median Rent
$483,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Leased two-bedroom flat with upgraded finishes, private outdoor space, and a remaining tax abatement.
Where is this residential income property located?
The property is located at 801 N 17TH STREET Unit 2 Philadelphia, PA.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: 2‑bedroom, 2‑bath flat with a private balcony; Currently leased with a remaining tax abatement; Open‑concept plan with island kitchen and upgraded stainless steel appliances
