Three-Bedroom Income
New
For Sale
$395,000
970 N MARSHALL STREET Unit 7, Philadelphia, PA 19123
Contemporary condominium with private outdoor space, quartz-finished kitchen, and three full bathrooms.
Property Size1,754 SF
Days on Market7
Property Features for 970 N MARSHALL STREET Unit 7
General Information
Standard status
Active
Size
1,754 SF
Property subtype
Unit/Flat/Apartment
Units
Unit Mix
1 x 3BR/3BA
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$563
Amenities
private patio
laundry closet
Building Details
Building Size
1,754 SF
Year Built
2017
Listing Agency:
Kurfiss Sotheby's International Realty
Listed By:
CONNOR GORMAN · License #RS350708
(215) 837-0403
Source:
Patmckennarealtors
Added: Sep 10
Changed: Sep 14
Last Checked: Sep 15 at 10:15AM
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 Kurfiss Sotheby's International Realty
Investment Insights
Based on property information with market context.
Built in 2017, this three-bedroom, three-bathroom condominium offers a split-level layout with defined living and sleeping areas. The main level combines an open living area with a kitchen featuring gray soft-close cabinetry, quartz countertops, GE stainless steel appliances, and a breakfast bar. One bedroom with substantial closet storage and a full bathroom is also located on this floor.
The lower level contains a second bedroom, another full bathroom, and the primary suite. Its en-suite bathroom includes an oversized walk-in shower and double vanity, while a dedicated laundry closet adds practical functionality. A private patio extends the usable space outdoors. The property is in Northern Liberties and has tax abatement remaining.
The lower level contains a second bedroom, another full bathroom, and the primary suite. Its en-suite bathroom includes an oversized walk-in shower and double vanity, while a dedicated laundry closet adds practical functionality. A private patio extends the usable space outdoors. The property is in Northern Liberties and has tax abatement remaining.
Key Highlights
- Three‑bedroom, three‑bathroom condominium built in 2017
- Tax abatement remaining
- Kitchen with gray soft‑close cabinetry, quartz countertops, and GE stainless steel appliances
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
$27,590
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
6.98%
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%
$551,800
$551.8K
Cap Rate 7%
$394,143
$394.1K
Cap Rate 9%
$306,556
$306.6K
Market Conditions
NOI Build-Up for 1,754 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
$53.3K $30.36/SF
− Vacancy
−$3.1K −$1.76/SF
EGI
$50.2K $28.60/SF
− OpEx
−$22.6K −$12.87/SF
NOI
$27.6K $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 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%
$551,800
Cap Rate 7%
$394,143
Cap Rate 9%
$306,556
Alternative Uses
Best Use
Apartment 5plus
$394.1K
$344.9K – $459.8K
NOI $27,590 @ 7.0% cap · market cap 6.98%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$427.6K
$374.2K – $498.9K
NOI $29,932 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,111
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Contemporary condominium with private outdoor space, quartz-finished kitchen, and three full bathrooms.
Where is this residential income property located?
The property is located at 970 N MARSHALL STREET Unit 7 Philadelphia, PA.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Three‑bedroom, three‑bathroom condominium built in 2017; Tax abatement remaining; Kitchen with gray soft‑close cabinetry, quartz countertops, and GE stainless steel appliances
