Two-Unit Residential Income
For Sale
$499,900
Pending
8919 ALTON STREET, Philadelphia, PA 19115
Well-maintained duplex with two occupied 2-bedroom, 1-bath units, updated kitchens, hardwood floors, and shared laundry.
Property Size2,563 SF
Days on Market58
Property Features for 8919 ALTON STREET
General Information
Standard status
Pending
Size
2,563 SF
Property subtype
Duplex
Building Details
Year Built
1973
Listing Agency:
Re/Max One Realty
(215) 953-8800
Listed By:
Irina Lovi · License #RS221243L
(215) 869-0359
Source:
Cummingsrealtors
Added: Jul 20
Changed: Sep 14
Last Checked: Sep 15 at 6:58AM
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 Re/Max One Realty
Investment Insights
Based on property information with market context.
This two-unit residential income duplex offers two 2-bedroom, 1-bath layouts, with spacious living and dining areas and hardwood floors in each unit. Both kitchens are updated and include appliances, and each unit has ample storage space, including walk-in closet space in the primary bedroom. The property also includes a basement with a shared laundry room and additional storage.
For parking, the home features a two-car attached garage and additional driveway parking. Recent improvements include a new roof in 2023 and a new garage door.
Both units are currently occupied by long-term tenants, and the property is conveniently located within walking distance to shopping centers, supermarkets, restaurants, and public transportation.
For parking, the home features a two-car attached garage and additional driveway parking. Recent improvements include a new roof in 2023 and a new garage door.
Both units are currently occupied by long-term tenants, and the property is conveniently located within walking distance to shopping centers, supermarkets, restaurants, and public transportation.
Key Highlights
- Duplex built in 1973 with 2 occupied units, each with 2 bedrooms and 1 bath
- Updated kitchens and appliances in both units
- Hardwood floors in each unit
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
$43,737
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
8.75%
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%
$874,740
$874.7K
Cap Rate 7%
$624,814
$624.8K
Cap Rate 9%
$485,967
$486.0K
Market Conditions
NOI Build-Up for 2,563 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
$66.1K $25.80/SF
− Vacancy
−$3.6K −$1.42/SF
EGI
$62.5K $24.38/SF
− OpEx
−$18.7K −$7.31/SF
NOI
$43.7K $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%
$874,740
Cap Rate 7%
$624,814
Cap Rate 9%
$485,967
Alternative Uses
Best Use
Multifamily LT 5
$624.8K
$546.7K – $729.0K
NOI $43,737 @ 7.0% cap · market cap 8.75%
Second Best
Apartment 5plus
$575.9K
$503.9K – $671.9K
NOI $40,315 @ 7.0% cap · market cap 8.06%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
599
Businesses Nearby
Explore this area
Business Placement
Demographics for 19115, PA
35,919
Population
15,071
Households
2.4
Avg Household Size
44
Median Age
37%
College-Educated
92%
High-School Grad
5.2 sq mi
ZIP Area
6,908
Density / Sq Mi
$70,388
Median Household Income
$48,949
Median Earnings
$1,230
Median Rent
$330,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex with two occupied 2-bedroom, 1-bath units, updated kitchens, hardwood floors, and shared laundry.
Where is this duplex located?
The property is located at 8919 ALTON STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Duplex built in 1973 with 2 occupied units, each with 2 bedrooms and 1 bath; Updated kitchens and appliances in both units; Hardwood floors in each unit
