NOT LISTED FOR SALE

Estimated Value: $371,792 - $402,000

-- Bed
2 Baths
2,315 Sq Ft
$168/Sq Ft Est. Value

Last Sold December 13, 2021

Last sale price $330,000 $143 Per Sq Ft

Est. 18% increase in value since last sale

Current estimated payment $2,563/month

Highlights

  • Straight Thru Architecture
  • Forced Air Heating System
  • 1-minute walk to 33rd and Wallace Playground
  • No HOA

About This Home

As of December 2021

Drexel University/UPenn Duplex on a great block close to campus with new construction in every direction. This solid building has 2 units that have been fully occupied with no vacancies for the last 8 years. Unit 1 - 3bd/1.5ba bilevel unit with a spacious living room and dining room, renovated kitchen with espresso cabinets, granite countertops, stainless steel appliances, as well as, a convenient powder room on this level. Upstairs features 3 bedrooms and a full hall bathroom with 2 large hall closets. This unit also includes a huge dry unfinished basement great for storage and has the mechanicals and in unit laundry. Large rear yard is great for barbecues and relaxing. Unit 2 - 1bd/1ba setup as a spacious flat with awesome center city skyline views. Good size living room and bedroom and hall bathroom. Both units have under market rents and could use some upgrades to obtain top rents in this desirable university area. Both units are on month to month leases and current rents are $2155/month (Unit 1 $1600/month & Unit 2 $555/month). Projected rents are Unit 1 $2200/month and Unit 2 $1100/month totaling $3300/month depending on upgrades. Both tenants pay electric/gas/cable, and the landlord pays water. Developer Opportunity; The lot is huge at 15.5 X 100 ft and the seller has floor plans for a triplex with 3 - 2bd/1ba units and could possibly have 2 - 2bd/1ba units and a 4bd/2ba unit if you finish the basement. If you choose the triplex renovation, rents can exceed $5500/month. Many options for this property especially since it is located in a desirable area that will never lose value with off campus living at high demand. Co-listing agent is the owner.

Last Agent to Sell the Property

Christopher Somers

KW Empower License #RS278328 Listed on: 07/16/2021

KW Empower

Co-Listed By

Eric Fargnoli

KW Empower

Last Buyer's Agent

Leron Grossman

Victory Real Estate, LLC License #RM423874

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,770

Year Built

  • Built in 1935

Lot Details

  • 1,562 Sq Ft Lot
  • Lot Dimensions are 15.41 x 101.39

Parking

  • On-Street Parking

Home Design

  • 2,315 Sq Ft Home
  • Duplex
  • Straight Thru Architecture
  • Masonry

Utilities

  • Window Unit Cooling System
  • Forced Air Heating System
  • Natural Gas Water Heater

Community Details

  • No Home Owners Association
  • 2 Units

Listing and Financial Details

  • Tax Lot 120
  • Assessor Parcel Number 242143200

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,770

Year Built

Built in 1935

Lot Details

0

Listing Details

  • Property Type: Multi-Family
  • Property Sub Type: Duplex
  • Structure Type: Interior Row/Townhouse
  • Architectural Style: Straight Thru
  • Ownership: Fee Simple
  • New Construction: No
  • Expected On Market: 2021-07-16
  • Year Built: 1935
  • Automatically Close On Close Date: No
  • Remarks Public: Drexel University/UPenn Duplex on a great block close to campus with new construction in every direction. This solid building has 2 units that have been fully occupied with no vacancies for the last 8 years. Unit 1 - 3bd/1.5ba bilevel unit with a spacious living room and dining room, renovated kitchen with espresso cabinets, granite countertops, stainless steel appliances, as well as, a convenient powder room on this level. Upstairs features 3 bedrooms and a full hall bathroom with 2 large hall closets. This unit also includes a huge dry unfinished basement great for storage and has the mechanicals and in unit laundry. Large rear yard is great for barbecues and relaxing. Unit 2 - 1bd/1ba setup as a spacious flat with awesome center city skyline views. Good size living room and bedroom and hall bathroom. Both units have under market rents and could use some upgrades to obtain top rents in this desirable university area. Both units are on month to month leases and current rents are $2155/month (Unit 1 $1600/month & Unit 2 $555/month). Projected rents are Unit 1 $2200/month and Unit 2 $1100/month totaling $3300/month depending on upgrades. Both tenants pay electric/gas/cable, and the landlord pays water. Developer Opportunity; The lot is huge at 15.5 X 100 ft and the seller has floor plans for a triplex with 3 - 2bd/1ba units and could possibly have 2 - 2bd/1ba units and a 4bd/2ba unit if you finish the basement. If you choose the triplex renovation, rents can exceed $5500/month. Many options for this property especially since it is located in a desirable area that will never lose value with off campus living at high demand. Co-listing agent is the owner.
  • Special Features: None

Interior Features

  • Total Sq Ft: 2315
  • Living Area Sq Ft: 2315
  • Price Per Sq Ft: 166.26
  • Above Grade Finished Sq Ft: 2315
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 655

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Construction Materials: Masonry
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: No Pool
  • Tidal Water: No
  • Water View: No

Garage/Parking

  • Garage: No
  • Type Of Parking: On Street

Utilities

  • Central Air Conditioning: No
  • Cooling Fuel: Electric
  • Cooling Type: Window Unit(s)
  • Heating Fuel: Natural Gas
  • Heating Type: Forced Air
  • Heating: Yes
  • Hot Water: Natural Gas
  • Sewer/Septic System: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • HOA: No

Schools

  • School District: THE SCHOOL DISTRICT OF PHILADELPHIA
  • School District Key: 300200397108
  • School District Source: Listing Agent

Green Features

  • Clean Green Assessed: No

Lot Info

  • Improvement Assessed Value: 230962.00
  • Land Assessed Value: 38338.00
  • Land Use Code: U50
  • Lot Size Acres: 0.04
  • Lot Dimensions: 15.41 x 101.39
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 1562.00
  • Year Assessed: 2021
  • Zoning: RM1

Rental Info

  • Existing Lease Type: Month To Month
  • Rent Control: No
  • Total Actual Rent: 25860.00
  • Units Leased Count: 2
  • Vacation Rental: No

Tax Info

  • Assessor Parcel Number: 1028136
  • School Tax: 2068.00
  • Tax Annual Amount: 3770.00
  • Assessor Parcel Number: 242143200
  • Tax Lot: 120
  • Tax Total Finished Sq Ft: 2315
  • County Tax Payment Frequency: Annually
  • Tax Year: 2021
  • Close Date: 12/13/2021

Multi Family

  • Other Units: Unit 1,Unit 2

MLS Schools

  • School District Name: THE SCHOOL DISTRICT OF PHILADELPHIA

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 16, 2021
Closed on
Dec 10, 2021
Sold by
Fargnoli Eric and Dugalic Vanya
Bought by
Grossman Holdings Llc
Seller's Agent
Christopher Somers
KW Empower
Buyer's Agent
Leron Grossman
Victory Real Estate, LLC
List Price
$439,900
Sold Price
$330,000
Premium/Discount to List
-$109,900
-24.98%
Current Estimated Value
$389,264

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$59,264
Avg. Annual Appreciation
4.23%
Original Mortgage
$247,500
Interest Rate
3.22%
Mortgage Type
New Conventional

Purchase Details

Listed on
May 22, 2014
Closed on
Sep 5, 2014
Sold by
Bigham B A
Bought by
Fargnoli Eric and Dugalic Vanya
Seller's Agent
Marcia Singh
RE/MAX Achievers-Collegeville
Buyer's Agent
Eric Fargnoli
KW Empower
List Price
$210,000
Sold Price
$210,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.41%
Original Mortgage
$206,196
Interest Rate
3.75%
Mortgage Type
FHA

Purchase Details

Closed on
Oct 6, 1980
Bought by
Bigham B A
Source: Public Records

Range of Values:

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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Grossman Holdings Llc $330,000 City Line Abstract
Fargnoli Eric $210,000 None Available
Bigham B A $15,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Grossman Holdings Llc $247,500
Previous Owner Fargnoli Eric $220,500
Previous Owner Fargnoli Eric $206,196
Previous Owner Bigham B A $56,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/13/2021 12/13/21 Sold $330,000 -14.3% $143 / Sq Ft
10/11/2021 10/11/21 Price Changed $384,900 -3.8% $166 / Sq Ft
09/24/2021 09/24/21 Price Changed $399,900 -2.4% $173 / Sq Ft
09/05/2021 09/05/21 Price Changed $409,900 -2.4% $177 / Sq Ft
08/25/2021 08/25/21 Price Changed $419,900 -2.3% $181 / Sq Ft
08/10/2021 08/10/21 Price Changed $429,900 -2.3% $186 / Sq Ft
07/16/2021 07/16/21 For Sale $439,900 +109.5% $190 / Sq Ft
09/05/2014 09/05/14 Sold $210,000 0.0% $91 / Sq Ft
08/08/2014 08/08/14 Pending -- -- --
05/22/2014 05/22/14 For Sale $210,000 -- $91 / Sq Ft
Source: Bright MLS

Tax History Compared to Growth

Source: Public Records

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 $5,869 $409,500 $81,900 $327,600
2024 $5,869 $409,500 $81,900 $327,600
2023 $5,869 $419,300 $83,860 $335,440
2022 $3,770 $419,300 $83,860 $335,440
2021 $3,770 $0 $0 $0
2020 $3,770 $0 $0 $0
2019 $3,628 $0 $0 $0
2018 $3,161 $0 $0 $0
2017 $3,161 $0 $0 $0
2016 $3,161 $0 $0 $0
2015 $2,346 $0 $0 $0
2014 -- $175,100 $15,931 $159,169
2012 -- $15,936 $2,959 $12,977
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Bright MLS

MLS Number: PAPH2009650

Bright MLS

APN: 242143200