New Construction Two-Unit
For Sale
$849,990
861 N 15TH STREET, Philadelphia, PA 19130
Modern two-family property with designer kitchens, in-unit laundry, outdoor space, and an approved 10-year tax abatement.
Property Size2,600 SF
Days on Market18
Property Features for 861 N 15TH STREET
General Information
Standard status
Active
Size
2,600 SF
Property subtype
Duplex
Units
Unit Mix
1 x 2BR/2BA, 1 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,169
Amenities
stainless steel appliances
in-unit laundry
roof deck
yard
Building Details
Building Size
2,600 SF
Year Built
2026
Buildings
1
Listing Agency:
Premier Real Estate Inc
Listed By:
Vardgas Oganisean · License #RS348567
(215) 966-7772
Source:
Patmckennarealtors
Added: Aug 21
Changed: Sep 2
Last Checked: Sep 7 at 6:12AM
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 Premier Real Estate Inc
Investment Insights
Based on property information with market context.
Completed in 2026, this two-unit duplex offers contemporary finishes and separate residential layouts. Both units include designer kitchens with stainless steel appliances, spacious living rooms, modern bathrooms, accent walls, and in-unit laundry.
The first unit contains two bedrooms and two full bathrooms, along with access to a large rear yard and an approved walkout easement to the street. The second unit features three bedrooms and two bathrooms, plus access to a roof deck with unobstructed skyline views. The property is located in Philadelphia’s Francisville area, a few blocks from Fairmount Avenue, and includes an approved 10-year tax abatement.
The first unit contains two bedrooms and two full bathrooms, along with access to a large rear yard and an approved walkout easement to the street. The second unit features three bedrooms and two bathrooms, plus access to a roof deck with unobstructed skyline views. The property is located in Philadelphia’s Francisville area, a few blocks from Fairmount Avenue, and includes an approved 10-year tax abatement.
Key Highlights
- 2026 construction with two residential units
- Unit 1 offers 2 bedrooms, 2 full bathrooms, and rear‑yard access
- Unit 2 includes 3 bedrooms, 2 bathrooms, and roof‑deck access
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
$44,369
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
5.22%
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%
$887,380
$887.4K
Cap Rate 7%
$633,843
$633.8K
Cap Rate 9%
$492,989
$493.0K
Market Conditions
NOI Build-Up for 2,600 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
$67.1K $25.80/SF
− Vacancy
−$3.7K −$1.42/SF
EGI
$63.4K $24.38/SF
− OpEx
−$19.0K −$7.31/SF
NOI
$44.4K $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%
$887,380
Cap Rate 7%
$633,843
Cap Rate 9%
$492,989
Alternative Uses
Best Use
Multifamily LT 5
$633.8K
$554.6K – $739.5K
NOI $44,369 @ 7.0% cap · market cap 5.22%
Second Best
Apartment 5plus
$584.2K
$511.2K – $681.6K
NOI $40,897 @ 7.0% cap · market cap 4.81%
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
2,682
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
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 - Modern two-family property with designer kitchens, in-unit laundry, outdoor space, and an approved 10-year tax abatement.
Where is this duplex located?
The property is located at 861 N 15TH STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $849,990.
What are key features of this property?
This property features: 2026 construction with two residential units; Unit 1 offers 2 bedrooms, 2 full bathrooms, and rear‑yard access; Unit 2 includes 3 bedrooms, 2 bathrooms, and roof‑deck access
