506 W Master St Philadelphia, PA 19122
Olde Kensington NeighborhoodEstimated payment $3,275/month
Total Views
230
--
Bed
--
Bath
1,955
Sq Ft
$294
Price per Sq Ft
Highlights
- Traditional Architecture
- 90% Forced Air Heating and Cooling System
- 3-minute walk to Thomas Hart Park
- Solar owned by a third party
About This Home
Welcome to 506 Master Street, a modern duplex in the Ludlow section of Kensington, directly across from Cruz Playground and just a short walk to the shops and restaurants along Girard Avenue. Built in 2015, this turnkey property offers a perfect opportunity for an owner-occupant to offset their mortgage with rental income while enjoying the benefits of a booming neighborhood with significant nearby development. The lower unit (905 sq ft) features 2 bedrooms, 1 full bath, and a private rear yard perfect for outdoor entertaining or gardening. The upper unit (1,050 sq ft) also offers 2 bedrooms and 1 full bath, with large windows flooding the space with natural light. Both units feature hardwood floors, spacious layouts, separate laundry, and updated finishes that make moving in or leasing seamless. Additional highlights include: solar panels on the roof for energy savings, separate utilities for each unit, delivered fully vacant for immediate rental or occupancy flexibility. Previously rented at $1,650/month for the upper unit with potential for $2,000/month+ in today's market and $1,450/month for the lower unit with potential for $1,800/month+. Whether you’re looking to build wealth or expand your investment portfolio with a low-maintenance property, 506 Master Street offers the ideal blend of location, modern construction, and long-term upside in a rapidly developing area. Don’t miss your chance to own a move-in-ready duplex across from a beautiful park in the heart of Kensington.
Listing Agent
Kurfiss Sotheby's International Realty License #RS343604 Listed on: 07/10/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $1,080
Year Built
- Built in 2015
Lot Details
- 918 Sq Ft Lot
- Lot Dimensions are 16.00 x 59.00
Parking
- On-Street Parking
Home Design
- 1,955 Sq Ft Home
- Duplex
- Traditional Architecture
- Brick Exterior Construction
- Metal Siding
- Concrete Perimeter Foundation
Eco-Friendly Details
- Solar owned by a third party
Utilities
- 90% Forced Air Heating and Cooling System
- Natural Gas Water Heater
Listing and Financial Details
- Assessor Parcel Number 885177120
Community Details
Overview
- 2 Units
- Kensington Subdivision
Building Details
- 2 Vacant Units
Map
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Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $1,081 | $77,200 | $77,200 | -- |
| 2024 | $1,081 | $77,200 | $77,200 | -- |
| 2023 | $1,081 | $77,200 | $77,200 | $0 |
| 2022 | $1,081 | $77,200 | $77,200 | $0 |
| 2021 | $1,081 | $0 | $0 | $0 |
| 2020 | $1,081 | $0 | $0 | $0 |
| 2019 | $1,081 | $0 | $0 | $0 |
| 2018 | $1,050 | $0 | $0 | $0 |
| 2017 | $62 | $0 | $0 | $0 |
| 2016 | $62 | $0 | $0 | $0 |
| 2015 | $430 | $0 | $0 | $0 |
| 2014 | -- | $4,400 | $4,400 | $0 |
| 2012 | -- | $352 | $352 | $0 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/10/2025 07/10/25 | For Sale | $575,000 | +1433.3% | $294 / Sq Ft |
| 10/23/2013 10/23/13 | Sold | $37,500 | -50.0% | -- |
| 09/17/2013 09/17/13 | Pending | -- | -- | -- |
| 11/16/2012 11/16/12 | For Sale | $75,000 | -- | -- |
Source: Bright MLS
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $37,500 | None Available | |
| Deed | $8,500 | None Available | |
| Deed | $5,000 | None Available | |
| Sheriffs Deed | $9,900 | None Available |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $350,000 | Commercial | |
| Closed | $260,000 | Construction |
Source: Public Records
Similar Homes in Philadelphia, PA
Source: Bright MLS
MLS Number: PAPH2514750
APN: 885177120
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