What You Should Know

An AI-generated overview of this parcel — zoning context, recent activity, and what matters most for redevelopment.

Zoning & Land Use

Zoning DistrictCMX1 - Neighborhood Commercial Mixed-Use

Building TypeAPT 2-4 UNITS 2 STY MAS+O

CategoryMULTI FAMILY

Year Built1980 (est.)

Valuation & Sales

Market Value (TY2027)$441,700

Last Sale Price$475,000

Last Sale DateJanuary 22, 2026

Taxable Land$88,340

Taxable Building$353,360

Homestead ExemptionNone

Physical Characteristics

Total Lot Area3,034 sq ft

Livable Area2,140 sq ft

Frontage28 ft

Depth107 ft

Stories2

Est. Units3 (approx.)

Bedrooms4

Bathrooms4

Exterior ConditionAverage

Garage0

Ownership

OwnerLondaridze Dali

Owner 2Londaridze Vakhtang

Political Representation

City Council DistrictN/A

City Council MemberN/A

Ward56

PA House DistrictN/A

PA House RepresentativeN/A

PA Senate DistrictN/A

PA Senate RepresentativeN/A

Congressional DistrictN/A

Congressional RepresentativeN/A

Census Tract345

Activity Timeline

Nearby Activity

Comparable Sales

Two different questions, answered together: what this property is worth as built, and what the land underneath it is worth on its own. Not an appraisal.

Building value

Arm's-length sales of similar nearby homes — prices the structure.

Land value

Vacant-land and teardown sales — prices the lot on its own.

Sale-by-sale detail

Buildable CapacityBeta

CMX-1Commercial Mixed-Use

Zoning Envelope

Max Height: 38 ft; Per adjacent RM-2
Lot Coverage: 70%; Per adjacent RM-2
FAR: —; Per adjacent RM-2
Max GFA: 6,371 sf
Max Units: 8; Coverage × height

Building Code (IBC Ch. 5)

Construction Type: Type V-B; wood frame · ~$100/sf base
Net Realizable Units: 8; 83% net-to-gross vs. 8 gross

Model a specific massing to see the construction type it requires (zoning capacity above is unchanged):

StoriesFloor plate (SF)

Adjacency resolved: Standards governed by adjacent RM-2 district (§14-503(1)(b)).By-right capacity based on Philadelphia Zoning Code §14-701. Actual development potential may vary based on overlays, variances, setbacks, parking requirements, and site conditions.Utilization and redevelopment potential data will be available after the next data update.

Bonuses and Policy ScenariosBeta

Toggle a bonus or policy scenario to see how it affects feasibility. Selections here update the Pro Forma card below, including its Excel export. Not law today scenarios are hypothetical only — not something available under current Philadelphia zoning code.

Select a scenario above to compare against the base case

3D Massing

Development Pro FormaBeta

Yield on cost:+Pencils10-yr IRR:Marginal

Market data: Citywide submarket

Total Dev Cost

$1.5M

$181,387/unit

Stabilized NOI

$106K

Yield on Cost

7.3%

Above 6% threshold

Equity Multiple

2.38x

8 units / Type V Wood Frame

Revenue

Gross Potential Rent$157K

Blended Market Rent (at delivery)$2.56/sf/mo

Effective Gross Income$145K

Development Cost

Land & Acquisition$116K

Hard Costs$954K

Soft Costs$381K

Total Development Cost$1.5M

10-yr IRR

10.4%

Below 15% threshold

Cash-on-Cash

4.2%

DSCR

1.25x

Target: 1.20x+

Year 10 NOI

$122K

Net Sale Proceeds

$924K

at 6.5% cap

LIHTC Screening Beta

Not Applicable

Screening-level LIHTC feasibility based on the market-rate pro forma above. Not a substitute for a qualified LIHTC consultant.

Income Mix Preset

30/50/60% AMI — strong PHFA scoring

Affordable %

Investor $/Credit

Grants / Subsidies

Receives federal assistanceHOME, CDBG, HOPWA, HTF, project-based vouchers. Triggers §504 (5% accessible + 2% hearing/vision). The credit alone does not.Elevator buildingBrings every unit into Type B scope instead of the ground floor only. Defaulted from the modeled story count.

Prevailing wageApplies once a project receives $100K+ in city financial assistance (e.g. City Gap Financing, the typical LIHTC subsidy source).Land Bank disposition ($1 nominal)Models this parcel as if acquired via the Land Bank at nominal cost — not yet an active City program for LIHTC deals.

9% Annual Credit

$131K

$1.2M total equity

4% Annual Credit

$58K

$0.5M total equity

Eligible Basis

$1.5M

100.0% applicable

Surplus (9%)

$0.8M

Fully funded

Recommendation

Only 8 units — PHFA minimum for 9% is 25 units. Too small for bond-financed 4% deal as well.

Income Averaging (IRC §42(g)(1)(C))

Compliant

Avg AMI: 51.3% (max 60%)

Affordable Units: 8 / 8

Applicable Fraction: 100.0%

Sources of Funds

LIHTC Equity (9%)

$1,178,631

Permanent Debt

$1,151,003

Total Sources$2,329,634

Surplus$758,547

Accessibility requirements8 units

Type A (fully adaptable)

IBC §1107.6.2.2.1 — 2% above 20 units

none

Type B / Fair Housing

IBC §1107.7.1 — ground-floor units only without elevator

§504 mobility-accessible

not applied — no federal assistance declared

n/a

§504 hearing / vision

not applied — no federal assistance declared

n/a

Without elevator service only ground-floor units are covered. That count is estimated by distributing units evenly across the modeled stories — replace it with a real unit schedule before relying on it.

QCT/DDA 130% basis boost not yet implemented — check HUD QCT map manually.

100% affordable — eligible for landscape buffer exemption (§14-705(1)), reducing site costs.