Renovated Two-Unit
For Sale
$249,900
837 Winton Street, Philadelphia, PA 19148
Two studio apartments feature updated interiors, private laundry, separate utilities, and access to shared property amenities.
Property Size729 SF
Price / SF$342.80
Days on Market298
Property Features for 837 Winton Street
General Information
Standard status
Active
Size
729 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RES
Units
Unit Mix
2 x studio
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,500
Amenities
in-unit laundry
No
Microwave, Refrigerator, Stainless Steel Appliances
https://www.zillow.com/view-imx/26258c0d-390c-4781-9cf6-53740d5bcb1b?wl=true&setAttribution=mls&initialViewType=pano
No Pool
Above Grade, Below Grade
Patio(s)
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Redfin Corporation
Listed By:
Constantine Themis Pailas · License #RS346645
(267) 254-7410
Source:
Compass
Added: Nov 13, 2025
Changed: Aug 31
Last Checked: Aug 30 at 10:53AM
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 Redfin Corporation
Investment Insights
Based on property information with market context.
This duplex contains two studio apartments with renovated kitchens and bathrooms, hardwood flooring, in-unit laundry, and separate utilities. Kitchen improvements include modern cabinetry, granite countertops, and stainless steel appliances, while the bathrooms have updated tilework and contemporary fixtures. Major systems, including wiring, plumbing, the roof, and heating, have also been updated. The first-floor residence opens to a rear yard and includes access to a full basement for storage.
Built in 1920, the property is located in Philadelphia’s South Philadelphia area near South Broad Street. Restaurants, local markets, and public transportation are within a short distance. The configuration supports separate occupancy of both units or owner occupancy in one studio while leasing the other.
Built in 1920, the property is located in Philadelphia’s South Philadelphia area near South Broad Street. Restaurants, local markets, and public transportation are within a short distance. The configuration supports separate occupancy of both units or owner occupancy in one studio while leasing the other.
Key Highlights
- Duplex with two studio apartments
- Renovated kitchens and bathrooms with granite countertops, stainless steel appliances, and updated tilework
- In‑unit laundry and separate utilities for each apartment
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
$12,440
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
4.98%
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%
$248,800
$248.8K
Cap Rate 7%
$177,714
$177.7K
Cap Rate 9%
$138,222
$138.2K
Market Conditions
NOI Build-Up for 729 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
$18.8K $25.80/SF
− Vacancy
−$1.0K −$1.42/SF
EGI
$17.8K $24.38/SF
− OpEx
−$5.3K −$7.31/SF
NOI
$12.4K $17.06/SF
Area
Philadelphia, PA
Vacancy
5.51%
Lease Rate
$25.80 /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%
$248,800
Cap Rate 7%
$177,714
Cap Rate 9%
$138,222
Alternative Uses
Best Use
Multifamily LT 5
$177.7K
$155.5K – $207.3K
NOI $12,440 @ 7.0% cap · market cap 4.98%
Second Best
Apartment 5plus
$163.8K
$143.3K – $191.1K
NOI $11,467 @ 7.0% cap · market cap 4.59%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,450
Businesses Nearby
Explore this area
Business Placement
Demographics for 19148, PA
53,976
Population
22,944
Households
2.4
Avg Household Size
36
Median Age
39%
College-Educated
85%
High-School Grad
4.2 sq mi
ZIP Area
12,851
Density / Sq Mi
$80,469
Median Household Income
$50,067
Median Earnings
$1,492
Median Rent
$296,800
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 - Two studio apartments feature updated interiors, private laundry, separate utilities, and access to shared property amenities.
Where is this duplex located?
The property is located at 837 Winton Street Philadelphia, PA.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Duplex with two studio apartments; Renovated kitchens and bathrooms with granite countertops, stainless steel appliances, and updated tilework; In‑unit laundry and separate utilities for each apartment
