Duplex With Registered Day
For Sale
$338,000
89 SPARKS STREET, Philadelphia, PA 19120
Occupied duplex with annual leases and a registered ground-floor day care use.
Property Size1,530 SF
Days on Market198
Property Features for 89 SPARKS STREET
General Information
Standard status
Active
Size
1,530 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$1,878
Building Details
Building Size
1,530 SF
Year Built
1928
Listing Agency:
Chapel Realty Sales
Listed By:
Stacey L Alston · License #RS222634L
(267) 246-4856
Source:
Lizclarkrealestate
Added: Feb 16
Changed: Aug 28
Last Checked: Sep 2 at 2:32AM
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 Chapel Realty Sales
Investment Insights
Based on property information with market context.
Constructed in 1928, this legal duplex includes two residential units alongside a ground-level day care operation. The property is fully occupied, with all units subject to yearly leases. The day care use has formal registration, supporting the existing mixed-use configuration.
Located near transportation, schools, and shopping, the property also offers access to Roosevelt Boulevard. Showings of the upper floors require 24–48 hours’ notice, while day care access is available on weekends or evenings for serious interest. The top-floor unit may be subject to 60 days’ notice in connection with an acceptable sale and inspection negotiations.
Located near transportation, schools, and shopping, the property also offers access to Roosevelt Boulevard. Showings of the upper floors require 24–48 hours’ notice, while day care access is available on weekends or evenings for serious interest. The top-floor unit may be subject to 60 days’ notice in connection with an acceptable sale and inspection negotiations.
Key Highlights
- 2+2 duplex with ground‑level day care
- Legal duplex with registered day care use
- Fully occupied with yearly leases
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
$16,574
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
4.90%
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%
$331,480
$331.5K
Cap Rate 7%
$236,771
$236.8K
Cap Rate 9%
$184,156
$184.2K
Market Conditions
NOI Build-Up for 1,530 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
$25.5K $16.68/SF
− Vacancy
−$1.8K −$1.20/SF
EGI
$23.7K $15.48/SF
− OpEx
−$7.1K −$4.64/SF
NOI
$16.6K $10.83/SF
Area
ZIP 19120
Vacancy
7.22%
Lease Rate
$16.68 /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%
$331,480
Cap Rate 7%
$236,771
Cap Rate 9%
$184,156
Alternative Uses
Best Use
Multifamily LT 5
$236.8K
$207.2K – $276.2K
NOI $16,574 @ 7.0% cap · market cap 4.90%
Second Best
Apartment 5plus
$210.6K
$184.3K – $245.7K
NOI $14,742 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$365.5K
$319.8K – $426.4K
NOI $25,584 @ 7.0% cap · market cap 7.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,050
Businesses Nearby
Explore this area
Business Placement
Demographics for 19120, PA
66,177
Population
25,730
Households
2.6
Avg Household Size
35
Median Age
13%
College-Educated
77%
High-School Grad
3.2 sq mi
ZIP Area
20,680
Density / Sq Mi
$51,993
Median Household Income
$32,980
Median Earnings
$1,186
Median Rent
$143,500
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 - Occupied duplex with annual leases and a registered ground-floor day care use.
Where is this duplex located?
The property is located at 89 SPARKS STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $338,000.
What are key features of this property?
This property features: 2+2 duplex with ground‑level day care; Legal duplex with registered day care use; Fully occupied with yearly leases
