Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    912 Locust Ave, Unit 22 Philadelphia, PA 19138-2321

    • Residential income homes
    • 9,331 SF
    • 0.49 lot acres
    OFF-MARKET
    Last Sale
    May 17, 2023
    $580,000
    Value Estimations
    $570,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-1607894
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Residential income homes

    Property Details for 912 Locust Ave

    Year built
    1940
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.49 lot acres
    Property size
    9,331 SF
    Zone code
    CMX2
    Property type
    Residential income homes
    Property subtype
    Serviced apartments
    APN
    88-1-4216-30
    APU
    881421630

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $550,000
      ML approach
      $575,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Philadelphia
    County
    Philadelphia
    State
    Pennsylvania
    Longitude
    -75.1603
    Latitude
    40.0459
    CBSA code
    37980
    CBSA name
    PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $3,739
    $66,775
    $200,325
    $267,100
    -
    $66,775
    $200,325
    $267,100

    Comparable in this City

    • Value Estimation
      $2,620,000
      11,602 SF

      5711 Wister St, Unit 27

      BOARDING/ROOMING HOUSE • 11,602 SF
      5711 Wister St, Philadelphia, PA 19138-2820
      View Details
    • Value Estimation
      $1,860,000
      16,616 SF

      7040 Limekiln Pike

      BOARDING/ROOMING HOUSE • 16,616 SF
      7040 Limekiln Pike, Philadelphia, PA 19138-2023
      View Details
    • Value Estimation
      $6,170,000
      33,998 SF

      1314 Tulpehocken St, Unit 32

      BOARDING/ROOMING HOUSE • 33,998 SF
      1314 Tulpehocken St, Philadelphia, PA 19138-1523
      View Details
    • Value Estimation by Request
      2,204 SF

      2004 Chelten Ave

      BOARDING/ROOMING HOUSE • 2,204 SF
      2004 Chelten Ave, Philadelphia, PA 19138-3014
      View Details
    • Value Estimation
      $1,205,000
      12,862 SF

      2020 Champlost Ave, Unit 42

      APARTMENT HOUSE (5+ UNITS) • 12,862 SF
      2020 Champlost Ave, Philadelphia, PA 19138-2425
      View Details
    • Value Estimation
      $3,540,000
      19,520 SF

      5938 20th St, Unit 72

      APARTMENT HOUSE (5+ UNITS) • 19,520 SF
      5938 20th St, Philadelphia, PA 19138-2415
      View Details

    Similar Nearby for Sale

    • $315,000
      2,040 SF

      Philadelphia Quadruplex Investment Opportunity

      Well-maintained quadruplex with immediate income and upside potential.
      7345 Limekiln Pike, Philadelphia, PA 19138
      View Details
    • $160,000
      1,664 SF

      Philadelphia Duplex with Garage

      Two-unit duplex with garage and off-street parking in Philadelphia.
      1965 Georgian Rd, Philadelphia, PA 19138
      View Details
    • $1,450,000
      6,454 SF

      West Oak Lane Multifamily Investment

      12-unit multifamily building in West Oak Lane neighborhood.
      7092 Forrest Ave, Philadelphia, PA 19138
      View Details
    • $615,000
      2,053 SF

      Philadelphia Multifamily Investment Opportunity

      Multifamily property for sale with tenant in place in Philadelphia.
      5839 Crittenden St, Philadelphia, PA 19138
      View Details
    • New
      $205,000
      1,336 SF

      Philadelphia Duplex with Parking

      Investment opportunity: duplex with separate utilities and off-street parking.
      6726 Wyncote Ave, Philadelphia, PA 19138
      View Details
    • New
      $229,900
      1,236 SF

      Philadelphia Multifamily Property for Sale

      Multifamily property in Philadelphia, Pennsylvania, ideal for investment.
      2115 Stenton Ave, Philadelphia, PA 19138
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,512 SF

      Retail Space Available For Rent

      Retail space available for lease in Philadelphia, Pennsylvania.
      6320 Stenton Ave, Philadelphia, PA 19138
      View Details
    • Contact for pricing
      7,375 SF

      Mixed-Use Space in Philadelphia

      10,000 SF mixed-use space with warehouse and office.
      6215 Ardleigh St, Philadelphia, PA 19138
      View Details
    • Contact for pricing
      1,853 SF

      Restaurant with Drive-Thru Available

      Second-generation restaurant with drive-thru and high visibility.
      6242 Stenton Ave, Philadelphia, PA 19138
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    912 Locust Ave, Unit 22
    Philadelphia, PA 19138-2321
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.