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.
Listed by Lindsey Toconita
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License #RS343604
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Kurfiss Sotheby's International Realty
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6108062113
Last updated November 19, 2025
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Source: BrightMLS #PAPH2514750
Listing Facts
TypeMulti-family
NeighborhoodOld Kensington
Days on Prevu155
Taxes$1,080/year
Size1,955 sqft
Price per sqft$243
Location
Mortgage Calculator
Listing History
11/19/2025
Price Decreased
$475,000
10/15/2025
Price Decreased
$495,000
09/26/2025
Price Decreased
$525,000
09/05/2025
Price Decreased
$549,000
07/10/2025
Listed by Kurfiss Sotheby's International Realty
$575,000
Property Details for 506 W Master Street
Exterior
Construction
New Construction: No
Number Of Units Total: 2
Year Built: 2015
Architectural Style: Traditional
Construction Materials: Brick, Metal Siding
Features
Other Structures: Above Grade, Below Grade
Waterfront: No
Measurements
Lot Dimensions Source: Assessor
Lot Size Acres: 0.02
Lot Size Dimensions: 16
Lot Size Source: Assessor
Lot Size Square Feet: 918
Lot Size Units: Square Feet
Financial
Taxes
Tax Annual Amount: $1,080.00
Tax Year: 2024
Interior
Features
Fireplace: No
Measurements
Living Area: 1,955
Living Area Source: Estimated
Other
Location
Subdivision Name: KENSINGTON
Parking
Parking
Garage: No
Utilities
Equipment
Cooling: Central A/C
Heating: 90% Forced Air
Has Heating: Yes
Sewer: Public Sewer
Water Source: Public
Frequently Asked Questions
How many bedrooms does this multi-family home have?
There is bedrooms in this multi-family home at 506 W Master Street.
What are the annual taxes for 506 W Master Street?
Annual taxes for this multi-family home are estimated at $1,080.
How does 506 W Master Street compare to other multi-family homes in Old Kensington?
This multi-family home is listed 45% below the average price for multi-family homes in Old Kensington and has been on the market for 102 more days than the typical home in this area.
What is the square footage on this multi-family home?
According to the MLS, this listing is 1,955 sqft.
506 W Master Street is a -bedroom multi-family home for sale in PHILADELPHIA PA 19122. On Prevu for 155 days at $475,000. This includes a recent price decrease of $20,000. This home features 1,955 square feet of living space, located in Old Kensington. The median listing price for multi-family homes in this area is $499,900. View other multi-family home listings in Philadelphia.
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