Residential Income Property with Roof
For Sale
$470,000
950 N 2ND STREET Unit UNIT 5C, Philadelphia, PA 19123
A 2025-built condominium unit within a 13-residence development with shared rooftop space.
Property Size888 SF
Price / SF$529.28
Days on Market418
Property Features for 950 N 2ND STREET Unit UNIT 5C
General Information
Standard status
Active
Size
888 SF
Property subtype
Unit/Flat/Apartment
Site & Location
Neighborhood
North Philadelphia
Units
Unit Mix
2BR/2BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$6,728
Amenities
shared roof deck
top-of-the-line appliance packages
Building Details
Building Size
888 SF
Year Built
2025
Listing Agency:
KW Empower
Listed By:
Jim Onesti · License #RS224457L
(484) 429-6769
Source:
Desantis-realestate
Added: Sep 10, 2025
Changed: Oct 31
Last Checked: Oct 31 at 7:08PM
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 KW Empower
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Investment Insights
Based on property information with market context.
Unit 5C is an 888-square-foot condominium in a 13-unit residential development completed in 2025. Residents have access to a shared roof deck, and the development offers appliance packages and multiple floor plans. The listing identifies a full 10-year tax abatement for the property.
The property is on North 2nd Street in Philadelphia’s Northern Liberties neighborhood, with dining, nightlife, and boutique shopping along 2nd Street. Fishtown is also described as nearby. Parking is offered at a separate lot at 943 N 2nd St; the remarks describe a one-year parking credit subject to terms in an acceptable offer.
The property is on North 2nd Street in Philadelphia’s Northern Liberties neighborhood, with dining, nightlife, and boutique shopping along 2nd Street. Fishtown is also described as nearby. Parking is offered at a separate lot at 943 N 2nd St; the remarks describe a one-year parking credit subject to terms in an acceptable offer.
Key Highlights
- 888‑square‑foot condominium unit in a 13‑unit development
- Built in 2025
- Full 10‑year tax abatement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,968
Cap Rate
2.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$279,360
$279.4K
Cap Rate 7%
$199,543
$199.5K
Cap Rate 9%
$155,200
$155.2K
Market Conditions
NOI Build-Up for 888 SF
Gross rent
$27.0K $30.36/SF
− Vacancy
−$1.6K −$1.76/SF
EGI
$25.4K $28.60/SF
− OpEx
−$11.4K −$12.87/SF
NOI
$14.0K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$279,360
Cap Rate 7%
$199,543
Cap Rate 9%
$155,200
Alternative Uses
Best Use
Apartment 5plus
$199.5K
$174.6K – $232.8K
NOI $13,968 @ 7.0% cap · market cap 2.97%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$216.5K
$189.4K – $252.6K
NOI $15,154 @ 7.0% cap · market cap 3.22%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,326
Businesses Nearby
Explore this area
Business Placement
Demographics for 19123, PA
18,793
Population
10,636
Households
1.8
Avg Household Size
33
Median Age
66%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
14,456
Density / Sq Mi
$95,872
Median Household Income
$73,760
Median Earnings
$1,687
Median Rent
$544,700
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - A 2025-built condominium unit within a 13-residence development with shared rooftop space.
Where is this residential income property located?
The property is located at 950 N 2ND STREET Unit UNIT 5C Philadelphia, PA.
What is the asking price?
The asking price for this property is $470,000.
What are key features of this property?
This property features: 888‑square‑foot condominium unit in a 13‑unit development; Built in 2025; Full 10‑year tax abatement
