Brick Twin Duplex with Detached
For Sale
$320,000
Pending
8324 RIDGEWAY STREET, Philadelphia, PA 19111
SINGLE_FAMILY - PHILADELPHIA, PA
Property Size1,222 SF
Days on Market56
Property Features for 8324 RIDGEWAY STREET
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 3, Bedroom 2
Subdivision
FOX CHASE
High school
GEORGE WASHINGTON
Standard status
Pending
Size
1,222 SF
Building Details
Year built
1960
Listing Agency:
BHHS Fox & Roach Doylestown · Berkshire Hathaway HomeServices
(215) 348-1700
Listed By:
Kurt Marhefka
(215) 778-6594
Added: Jun 18
Changed: Aug 5
Last Checked: Aug 12 at 11:06PM
MLS# PAPH2627770
Copyright © 2026 Berkshire Hathaway HomeServices Fox & Roach, Realtors. 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.
This brick twin duplex offers a main level with freshly painted interiors and newly refinished hardwood floors, with an open flow from the living room to the dining area. The remodeled kitchen was updated in 2017 and includes a brand-new range and microwave (2026). Upstairs, there are three bedrooms and a shared full hallway bath. A partially finished basement adds flexible space and includes a convenient second full bathroom.
Significant mechanical updates include a brand-new natural gas boiler installed in 2025 and a replacement roof from 2015. The property also includes a detached garage for off-street parking and/or additional storage. Built in 1960 and totaling 1,222 SF, it sits within the Fox Chase Elementary School catchment.
Convenient to Pennypack Park, the Fox Chase regional rail station, shopping, and local dining, this home is positioned for day-to-day access to neighborhood amenities.
Significant mechanical updates include a brand-new natural gas boiler installed in 2025 and a replacement roof from 2015. The property also includes a detached garage for off-street parking and/or additional storage. Built in 1960 and totaling 1,222 SF, it sits within the Fox Chase Elementary School catchment.
Convenient to Pennypack Park, the Fox Chase regional rail station, shopping, and local dining, this home is positioned for day-to-day access to neighborhood amenities.
Key Highlights
- New natural gas boiler installed in 2025
- Replacement roof from 2015
- Detached garage for off‑street parking and/or storage
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
$16,407
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
5.13%
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%
$328,140
$328.1K
Cap Rate 7%
$234,386
$234.4K
Cap Rate 9%
$182,300
$182.3K
Market Conditions
NOI Build-Up for 1,222 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
$24.2K $19.80/SF
− Vacancy
−$757 −$0.62/SF
EGI
$23.4K $19.18/SF
− OpEx
−$7.0K −$5.75/SF
NOI
$16.4K $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%
$328,140
Cap Rate 7%
$234,386
Cap Rate 9%
$182,300
Alternative Uses
Best Use
Multifamily LT 5
$234.4K
$205.1K – $273.5K
NOI $16,407 @ 7.0% cap · market cap 5.13%
Second Best
Apartment 5plus
$216.1K
$189.1K – $252.2K
NOI $15,130 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$370.5K
$324.2K – $432.3K
NOI $25,935 @ 7.0% cap · market cap 8.10%
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
526
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 - Three-bedroom, two-bath brick twin with detached garage, renovated kitchen, and a new boiler installed in 2025.
Where is this duplex located?
The property is located at 8324 RIDGEWAY STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: New natural gas boiler installed in 2025; Replacement roof from 2015; Detached garage for off‑street parking and/or storage
