650 Fairmount Ave Philadelphia, PA 19123-2704
Apartment buildings
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Individually Owned
~
Est. High Equity
For Lease
1 / 3
Contact for pricing
650 Fairmount Ave, Philadelphia, PA 19123-2704
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Estimated value
No estimation on file for this property yet.
Property ID
US73-1650090
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
125,440 SF
Lot
3.48 ac (151,589 SF)
Zoning code
RM2
APN
88-1-0067-16
UPID
US73-1650090
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
since 2026
Last sale
$805,000
7 recorded transactions
Zoning & alternative use
RM2 · Philadelphia, PA
Zoning description
The Residential Multi Family districts are primarily intended to accommodate moderate to high density, multi unit residential buildings in areas where such development already exists or where it is desired in the future
General category
RESIDENTIAL
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Realmo’s models returned no estimation for this property yet.
2
Subject property
Included free
GBA
125,440 SF
Lot area
3.48 ac
Year built
1975
Stories
3
APN
88-1-0067-16
Assessed value
$18,000,000
Annual tax
$251,964
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$251,964
Selected cap rate
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 880 sales
$278
—
County 880 sales
$278
—
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
6
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 1 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
355,211.43%
Selected cap rate for this apartment buildings
Derived from the Philadelphia market rent, vacancy and expense benchmarks for this use type.
NOI (est.)
$124k *
Last sale · Dec 2025
$805k
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$34
Move the market yield to see immediate price impact.
Value / SF
$0
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
355,210.93%355,211.43%355,211.93%
$112k
$31
$31
$31
$124k
$35
$34
$34
$137k
$38
$38
$38
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
1 found
None confidence · county-verified
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$251,964
Tax year 2023
Assessed value
$18,000,000
Assessed 2023
Previous assessed
$18,000,000
+0.0% YoY
Effective rate
1.40%
On assessed value
Assessed land
$18,000,000
Land market value
$18,000,000
Total market value
$18,000,000
Applied tax rate
14.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Status
For Lease
Year built
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
3
Total area
125,440 SF
Lot
3.48 ac (151,589 SF)
Zoning code
RM2
APN
88-1-0067-16
UPID
US73-1650090
Jurisdiction
PHILADELPHIA
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
RM2 · Philadelphia, PAZoning RM2 · permitted uses
RM2 · Philadelphia, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
The Residential Multi Family districts are primarily intended to accommodate moderate to high density, multi unit residential buildings in areas where such development already exists or where it is desired in the future
General category
RESIDENTIAL
Building & site characteristics
From public records
Year built
1975
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
3
Lot
3.48 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
RM2
RESIDENTIAL
Jurisdiction
Philadelphia, PA
Recorded code
RM2
Official district
RM2
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for RM2 in Philadelphia, PA.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
Official documentVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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