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 DistrictRM1 - Residential Multi-Family

Building TypeVACANT LAND RESIDE < ACRE

CategoryVACANT LAND

Year BuiltN/A

Valuation & Sales

Market Value (TY2027)$68,900

Last Sale Price$155,000

Last Sale DateFebruary 13, 2020

Taxable Land$68,900

Taxable Building$0

Homestead ExemptionNone

Physical Characteristics

Total Lot Area560 sq ft

Livable AreaN/A

Frontage16 ft

Depth35 ft

StoriesN/A

Units0

BedroomsN/A

BathroomsN/A

Exterior ConditionN/A

GarageN/A

Ownership

OwnerKorzekwa Kenneth Ray

Owner 2Nagar Swati

Political Representation

City Council DistrictN/A

City Council MemberN/A

Ward29

PA House DistrictN/A

PA House RepresentativeN/A

PA Senate DistrictN/A

PA Senate RepresentativeN/A

Congressional DistrictN/A

Congressional RepresentativeN/A

Census Tract139

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

RM-1Multi-Family Residential

Zoning Envelope

Max Height: 38 ft; 3 stories
Lot Coverage: 75%
FAR: —
Max GFA: 1,260 sf
Max Units: 1; Coverage × height

Building Code (IBC Ch. 5)

Construction Type: Type V-B; wood frame · ~$85/sf base
Net Realizable Units: 1; 83% net-to-gross vs. 1 gross

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

StoriesFloor plate (SF)

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:−Doesn't Pencil

Market data: Citywide submarket

Total Dev Cost

$322K

$321,528/unit

Stabilized NOI

$23K

Yield on Cost

7.0%

Above 6% threshold

Equity Multiple

2.30x

1 units / Type V Wood Frame

Revenue

Gross Potential Rent$31K

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

Effective Gross Income$29K

Development Cost

Land & Acquisition$96K

Hard Costs$160K

Soft Costs$65K

Total Development Cost$322K

10-yr IRR

9.8%

Below 15% threshold

Cash-on-Cash

3.3%

DSCR

1.20x

Target: 1.20x+

Year 10 NOI

$27K

Net Sale Proceeds

$202K

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

$22K

$0.2M total equity

4% Annual Credit

$10K

$0.1M total equity

Eligible Basis

$0.2M

100.0% applicable

Surplus (9%)

$0.1M

Fully funded

Recommendation

Only 1 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: 50% (max 60%)

Affordable Units: 1 / 1

Applicable Fraction: 100.0%

Sources of Funds

LIHTC Equity (9%)

$199,044

Permanent Debt

$244,232

Total Sources$443,276

Surplus$101,577

Accessibility requirements1 units

Type A (fully adaptable)

IBC §1107.6.2.2.1 — 2% above 20 units

none

Type B / Fair Housing

does not apply below four units

none

§504 mobility-accessible

not applied — no federal assistance declared

n/a

§504 hearing / vision

not applied — no federal assistance declared

n/a

Fewer than four units — IBC §1107.6.2.2.2 and the Fair Housing Act design requirements both start at four, so neither reaches this building. A confident zero, not a withheld number.

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.