Two-Unit Duplex with Finished
For Sale
$400,000
927 W SHUNK STREET, Philadelphia, PA 19148
Both units offer central air, with one residence adding a finished basement, second full bath, and laundry area.
Property Size1,320 SF
Days on Market15
Property Features for 927 W SHUNK STREET
General Information
Standard status
Active
Size
1,320 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,076
Building Details
Building Size
1,320 SF
Year Built
1920
Buildings
1
Listing Agency:
Alpha Realty Group
Listed By:
Grace G DeGregorio · License #RS278275
(215) 460-5147
Source:
Patmckennarealtors
Added: Aug 25
Changed: Aug 31
Last Checked: Sep 7 at 6:34AM
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 Alpha Realty Group
Investment Insights
Based on property information with market context.
This Philadelphia duplex, built in 1920, includes two residential units with central air conditioning. The first unit features an open layout with a bedroom and full bath, plus access to a finished basement containing custom built-in bookcases, another full bath, a tiled kitchen, and laundry space. Hardwood flooring and newer bedroom carpeting add to the interior finish. The property has been carefully maintained, with a recently coated roof.
The second unit has been refreshed with paint and new appliances and is currently occupied by a tenant. The building at 927 W Shunk Street provides a two-unit residential income configuration with distinct living spaces and basement utility.
The second unit has been refreshed with paint and new appliances and is currently occupied by a tenant. The building at 927 W Shunk Street provides a two-unit residential income configuration with distinct living spaces and basement utility.
Key Highlights
- Two‑unit duplex at 927 W Shunk Street, Philadelphia, PA 19148
- Finished basement with custom built‑in bookcases and second full bath
- First unit includes tiled kitchen and laundry room
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
$22,526
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
5.63%
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%
$450,520
$450.5K
Cap Rate 7%
$321,800
$321.8K
Cap Rate 9%
$250,289
$250.3K
Market Conditions
NOI Build-Up for 1,320 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
$34.1K $25.80/SF
− Vacancy
−$1.9K −$1.42/SF
EGI
$32.2K $24.38/SF
− OpEx
−$9.7K −$7.31/SF
NOI
$22.5K $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%
$450,520
Cap Rate 7%
$321,800
Cap Rate 9%
$250,289
Alternative Uses
Best Use
Multifamily LT 5
$321.8K
$281.6K – $375.4K
NOI $22,526 @ 7.0% cap · market cap 5.63%
Second Best
Apartment 5plus
$296.6K
$259.5K – $346.1K
NOI $20,763 @ 7.0% cap · market cap 5.19%
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
2,420
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 - Both units offer central air, with one residence adding a finished basement, second full bath, and laundry area.
Where is this duplex located?
The property is located at 927 W SHUNK STREET Philadelphia, PA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Two‑unit duplex at 927 W Shunk Street, Philadelphia, PA 19148; Finished basement with custom built‑in bookcases and second full bath; First unit includes tiled kitchen and laundry room
