Multi-family report

1242 N 15th St

4 bd · 3 stories · 2,500 sqft · RM1 · built 2025

Entity-held · assessed $628K (2026) · 2027 OPA assessment $713K · 2 licensed units · sold 3×. On the 1200 block of N 15th St.

Street view of 1242 N 15th St
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BlockReport AI · cited public records

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Property summary

“Open” reflects records available then historical records keep their source dates estimates are labeled

Question or correct this record

BlockReport can explain a discrepancy, but it cannot rewrite an official City record. Use the agency that owns the underlying fact:

The estimate, live balance, and back-tax record are different.

BlockReport can calculate the annual tax from the City’s taxable assessment. Payments, credits, interest, and a current amount due live separately in Philadelphia Tax Center.

Estimated annual Real Estate Tax$2,110/year

2026 taxable assessment $150,720 × 1.3998%. Estimate—not a bill or account balance.

OPA also publishes a 2027 assessment of $712,500; it is not the 2026 billed-year value.

Official current account balanceCheck live

A Tax Center balance is net of bills, payments, credits, interest, and adjustments. A credit—or an amount due—is not automatically “back taxes.”

OPA 471189700
Open Philadelphia Tax Center →Choose “View period balance” to see the tax year and any credit, interest, or delinquency.
Exemption classificationPartial assessment exemption — basis unverified

2026 OPA taxes $150,720 of $628,000 assessed. The assessment fields alone do not identify a program, approval date, expiration, or buyer eligibility.

See the assessment math →
Full-assessment scenario$8,791/year

Applying the same rate to the billed-year full assessment. OPA's numeric split does not say when or whether the current treatment changes.

See the assessment math →
Historical delinquency sources No current conclusion

This parcel did not match the June 2022 delinquency snapshot. That absence does not confirm the account is current today.

For a purchase, refinance, or closing, request the City’s official Property Payoff statement in Tax Center under “More options.”

What stands out

From the public record
Finding

New construction

Record summary

new construction appears in a 2024 permit with a reduced taxable assessment shown.

View supporting records →

What to do with this

The record, translated into moves — what a buyer, the owner, and a landlord would each want to check next under Philadelphia's actual rules.

If you’re buying

Verify the current tax bill and exemption

The 2026 taxable assessment implies about $2,110/yr, while applying the same rate to the full assessment would imply about $8,791/yr — $6,681/yr more. OPA's assessment split does not establish the exemption program, expiration, or buyer eligibility. Verify the basis and live bill with OPA and Revenue.

If you’re the landlord

Licensed rental — keep it that way

Renewal requires city tax clearance and zero open L&I violations on the property. A lapsed license suspends the right to collect rent or evict.

Derived from the fetched property records and linked City guidance as of 2026. Assessment treatment is not a substitute for an exemption approval, live balance, title report, license, occupancy certificate, or inspection. Informational only — not legal, tax, or investment advice.

Who's behind it

Masters Associates LLC · corporate / LLC owner

• Tax bills mail to 5 W 5th St, Bridgeport PA, 19405 — outside Philadelphia
• Holds an active rental license for this address

Assessment and tax history

Every fetched annual City assessment for this building, compared with its block and ZIP. The figures show assessment change, the billed-year tax estimate, dated tax records, and recorded transfers. They do not estimate market appreciation or investment return.

Assessed value
$628,000
2026 billed-year assessment · 2027: $712,500 · built 2025
Price / sq ft
$285
block $260 · above block
Assessment change
+10378%
+53%/yr since 2016 · 2027 +13% vs 2026
Est. tax bill / yr
$2,110
0.34% effective, reduced taxable assessment
Jun 2022 tax snapshot
No match
not proof the account is current
Times sold
3
licensed rental

Assessment vs. the block and ZIP · every dated City record marked on the line

$0$500K$1.0MZIP 19121 median$713K2009201220152018202120242027
Property assessmentBlock median & rangeZIP 19121 medianAssessmentL&I violationAppealPermitInspectionLicense

Scroll horizontally to move through the years. Each icon sits on its recorded date; records without a day are labeled and centered within their year. Select one to explain the filing.

Highlight
Every dated record26 events · exact dates, newest first
  1. LicenseRental
  2. PermitNew Construction
  3. InspectionL&I investigation
  4. PermitNew Construction or Additions
  5. L&I violationWORK NOT ACCORDING TO PLANS
  6. L&I violationWORKMANLIKE- BUILDING CODE
  7. PermitExcavation
  8. InspectionL&I investigation
  9. L&I violationEXTERIOR AREA WEEDS
  10. L&I violationRUBBISH & GARBAGE
  11. AppealZBA Permit Denial - Variance
  12. PermitNew construction, addition, GFA change
  13. PermitZoning/use
  14. L&I violationEXT A-VACANT LOT CLEAN/MAINTAI
  15. L&I violationCLIP VIOLATION NOTICE
  16. L&I violationEXT A-VACANT LOT CLEAN/MAINTAI
  17. L&I violationCLIP VIOLATION NOTICE
  18. AppealZoning board appeal
  19. L&I violationCLIP VIOLATION NOTICE
  20. L&I violationEXT A-VACANT LOT CLEAN/MAINTAI
  21. L&I violationCLIP VIOLATION NOTICE
  22. L&I violationEXT A-VACANT LOT CLEAN/MAINTAI
  23. L&I violationCLIP VIOLATION NOTICE
  24. L&I violationEXT A-VACANT LOT CLEAN/MAINTAI
  25. InspectionCSUINITIAL
  26. L&I violationWALL CRACK/FRACT ID

The paper trail

new construction appears in a 2024 permit with a reduced taxable assessment shown.

  1. 2023 2 L&I violationsL&IL&I: 2 failed, 1 passedL&I visit
  2. 2024 New ConstructionPermitExcavationPermitNew Construction or AdditionsPermitNew Construction or AdditionsPermitNew Construction or AdditionsPermitNew ConstructionPermit2 L&I violationsL&IL&I: 1 failed, 2 passedL&I visitNew ConstructionPermitNew ConstructionPermit

Browse the source ledger

The chart above is the primary timeline. This drawer preserves every underlying dated row and its filed status for source-level review.

Open the City record ↗
Browse 37 dated records deeds, permits, inspections, licenses, violations, certifications & appeals
  1. LicenseRental

    License 0995221 · Active

    MASTERS ASSOCIATES LLC · Expires 2026-12-08

  2. PermitNew Construction

    Permit EP-2024-002445 · Completed

    Electrical Permit for combo RP-2023-009757

  3. PermitNew Construction

    Permit MP-2024-001111 · Completed

    Mechanical / Fuel Gas Permit for combo RP-2023-009757

  4. InvestigationL&I investigation

    Case CF-2024-037667 · PASSED

    The cited inspection visit was marked passed.

  5. PermitNew Construction

    Permit FP-2024-001068 · Completed

    FOR THE INSTALLATION OF AN AUTOMATIC FIRE SUPPRESSION SYSTEM IN ACCORDANCE WITH NFPA 13D THROUGHOUT THREE STORY BUILDING TO INCLUDE 1-INCH COMBINED WATER SERVICE LINE AS PER APPROVED PLANS. ALL WORK SHALL BE DONE IN ACCORDANCE WITH APPROVED PLANS/HYDRAULIC CALCULATIONS. IF FIELD CONDITIONS VARY CONTACT DESIGN ENGINEER PRIOR TO THE START OF ANY WORK.

  6. PermitNew Construction or Additions

    Permit PP-2024-003412 · Completed

    Plumbing Permit (Interior) for combo RP-2023-009757

  7. PermitNew Construction or Additions

    Permit PP-2024-003410 · Completed

    Plumbing Permit (Water Distribution) for combo RP-2023-009757

  8. PermitNew Construction or Additions

    Permit PP-2024-003411 · Completed

    Plumbing Permit (Exterior Building Drainage) for combo RP-2023-009757

  9. ViolationWORK NOT ACCORDING TO PLANS

    Case CF-2024-037667 · Violation VI-2024-030573 · Code A-302.10/2 · COMPLIED

    Resolution: COMPLIED - OWNER REPAIR City marked this violation complied with; check the resolution date and live case for what was accepted.

  10. InvestigationL&I investigation

    Case CF-2024-037667 · FAILED

    The cited inspection visit was marked failed; later rows may show follow-up or resolution.

  11. ViolationWORKMANLIKE- BUILDING CODE

    Case CF-2024-036902 · Violation VI-2024-030111 · Code A-104.1/1 · CLOSED

    Resolution: CLOSED - WRITTEN IN ERROR City marked the record closed; open the case for the closing reason.

  12. InvestigationL&I investigation

    Case CF-2024-036902 · PASSED

    The cited inspection visit was marked passed.

  13. PermitExcavation

    Permit SP-2024-000272 · Completed

    Site / Utility Permit for RP-2023-009757

  14. PermitNew Construction

    Permit RP-2023-009757 · Completed

    FOR THE ERECTION OF AN ATTACHED STRUCTURE WITH ROOF DECK AND ROOF DECK ACCESS STRUCTURE. FOR USE AS TWO (2) DWELLING UNITS (TWO-FAMILY HOUSEHOLD LIVING) BUILDING TO BE FULLY SPRINKLERED. SEPARATE PERMITS REQUIRED FOR MEP & FP WORK.

  15. InvestigationL&I investigation

    Case CF-2023-107749 · PASSED

    The cited inspection visit was marked passed.

  16. InvestigationL&I investigation

    Case CF-2023-107749 · FAILED

    The cited inspection visit was marked failed; later rows may show follow-up or resolution.

  17. ViolationEXTERIOR AREA WEEDS

    Case CF-2023-107749 · Violation VI-2023-080569 · Code PM15-302.4 · COMPLIED

    Resolution: COMPLIED - OWNER REPAIR City marked this violation complied with; check the resolution date and live case for what was accepted.

  18. ViolationRUBBISH & GARBAGE

    Case CF-2023-107749 · Violation VI-2023-080570 · Code PM15-308.1 · COMPLIED

    Resolution: COMPLIED - OWNER REPAIR City marked this violation complied with; check the resolution date and live case for what was accepted.

  19. AppealZBA Permit Denial - Variance

    Appeal ZP-2022-010695 · Completed · Granted with conditions

    Related permit ZP-2022-010695 · PERMIT FOR THE ERECTION OF AN ATTACHED STRUCTURE WITH ROOF DECK AND ROOF DECK ACCESS STRUCTURE. FOR USE AS THREE (3) DWELLING UNITS (MULTI-FAMILY HOUSEHOLD LIVING) AND THE CREATION OF ONE (1) PARKING SPACE. SIZE AND LOCATION AS SHOWN IN PLA

  20. PermitNew construction, addition, GFA change

    Permit ZP-2022-010695 · Completed

    *AMENDMENT 1/10/24 TO CHANGE EGRESS WELL LOCATIONS, BAYS, PARKING LOCATION.* FOR THE ERECTION OF AN ATTACHED STRUCTURE WITH ROOF DECK AND ROOF DECK ACCESS STRUCTURE. SIZE AND LOCATION AS SHOWN IN PLAN.

  21. PermitZoning/use

    Permit 747733 · COMPLETED

    FOR THE ERECTION OF AN ATTACHED STRUCTURE HEIGHT 33.1 FT) WITH CELLAR, AND AN ACCESSORY ROOF DECK FOR RESIDENTIAL USE ONLY (GUARD RAILS 42" HIGH) WITH ROOF ACCESS PILOTHOUSE (PILOTHOUSE CONTAIN STAIRS AND LANDING ONLY; MAXIMUM HEIGHT 10 FT. ROOF DECK SET BACK AT LEAST FIVE FT FROM THE EXTREME FRONT BUILDING LINE). SIZE AND LOCATION AS SHOWN IN THE APPLICATION. USES - FOR VACANT COMMERCIAL SPACE ON FIRST FLOOR (MUST OCCUPY 100% OF THE GROUND FLOOR FRONTAGE WITH A MINIMUM DEPTH OF 30') (USES ONLY PERMITTED IN CMX-2 THAT NOT TO REQUIRE OFF STREET PARKING AS PER TABLE 14-802-2, USE REGISTRATION PERMIT IS REQUIRED PRIOR TO OCCUPANCY) AND HOUSEHOLD LIVING TWO (2) FAMILY DWELLING UNITS (ON 2ND AND 3RD FLOORS). NO SIGN ON THIS PERMIT

  22. ViolationEXT A-VACANT LOT CLEAN/MAINTAI

    Case 537079 · Violation 3961235 · Code PM-302.2/4 · COMPLIED

    City marked this violation complied with; check the resolution date and live case for what was accepted.

  23. ViolationCLIP VIOLATION NOTICE

    Case 537079 · Violation 3961234 · Code CP-01 · COMPLIED

    City marked this violation complied with; check the resolution date and live case for what was accepted.

  24. ViolationEXT A-VACANT LOT CLEAN/MAINTAI

    Case 487273 · Violation 3608934 · Code PM-302.2/4 · COMPLIED

    City marked this violation complied with; check the resolution date and live case for what was accepted.

  25. ViolationCLIP VIOLATION NOTICE

    Case 487273 · Violation 3608933 · Code CP-01 · COMPLIED

    City marked this violation complied with; check the resolution date and live case for what was accepted.

  26. AppealZoning board appeal

    Appeal 23776 · CLOSED · Withdrawn

    Related permit 544882 · PERMIT FOR FOR THE NEW CONSTRUCTION OF AN ATTACHED STRUCTURE WITH ROOF DECK ABOVE REAR THIRD FLOOR ROOF; SIZE AND LOCATION AS SHOWN IN THE SUBMITTED PLAN/APPLICATION; FOR USE AS ONE COMMERCIAL SPACE (USE REGISTRATION REQUIRED PRIOR TO OCCUP

  27. ViolationCLIP VIOLATION NOTICE

    Case 438374 · Violation 3225954 · Code CP-01 · COMPLIED

    City marked this violation complied with; check the resolution date and live case for what was accepted.

  28. ViolationEXT A-VACANT LOT CLEAN/MAINTAI

    Case 438374 · Violation 3225955 · Code PM-302.2/4 · COMPLIED

    City marked this violation complied with; check the resolution date and live case for what was accepted.

  29. ViolationCLIP VIOLATION NOTICE

    Case 398467 · Violation 2907034 · Code CP-01 · COMPLIED

    City marked this violation complied with; check the resolution date and live case for what was accepted.

  30. ViolationEXT A-VACANT LOT CLEAN/MAINTAI

    Case 398467 · Violation 2907035 · Code PM-302.2/4 · COMPLIED

    City marked this violation complied with; check the resolution date and live case for what was accepted.

  31. ViolationCLIP VIOLATION NOTICE

    Case 382591 · Violation 2806032 · Code CP-01 · COMPLIED

    City marked this violation complied with; check the resolution date and live case for what was accepted.

  32. ViolationEXT A-VACANT LOT CLEAN/MAINTAI

    Case 382591 · Violation 2806033 · Code PM-302.2/4 · COMPLIED

    City marked this violation complied with; check the resolution date and live case for what was accepted.

  33. ViolationCLIP VIOLATION NOTICE

    Case 320737 · Violation 2393465 · Code CP-01 · COMPLIED

    City marked this violation complied with; check the resolution date and live case for what was accepted.

  34. ViolationEXT A-VACANT LOT CLEAN/MAINTAI

    Case 320737 · Violation 2393466 · Code PM-302.2/4 · COMPLIED

    City marked this violation complied with; check the resolution date and live case for what was accepted.

  35. InvestigationCSUINITIAL

    Case 195048 · CLOSED

    City marked the record closed; open the case for the closing reason.

  36. ViolationWALL CRACK/FRACT ID

    Case 195048 · Violation 1283050 · Code PM-308.1/8 · COMPLIED

    City marked this violation complied with; check the resolution date and live case for what was accepted.

  37. InvestigationCSUINITIAL

    Case 195048 · FAILED

    The cited inspection visit was marked failed; later rows may show follow-up or resolution.

What this record suggests

The City file documents 10 permits touching electrical work, plumbing, roof work. 10 carries a completed, issued, or approved status; that documents the filing, not the present quality of the work.

Flags: material assessment exemption — legal basis and term unverified · active rental license · 2 zoning/board appeals on record. Informational only — not investment advice or a consumer report (FCRA).

The assessment exemption gap

OPA's 2026 taxable assessment implies about $2,110/year. Applying the same 1.3998% rate to the full assessed value would imply ~$8,791/year$6,681/year more. That is a scenario, not a forecast: the assessment split alone does not identify the exemption program, approval date, expiration, transfer treatment, or live Tax Center balance.

2016: ~$95/yr2017: ~$95/yr2018: ~$95/yr2019: ~$95/yr2020: ~$95/yr2021: ~$95/yr2022: ~$95/yr2023: ~$921/yr2024: ~$921/yr2025: ~$2,387/yr2026: ~$2,110/yr20162026
2026~$2,110/yrestimated from assessment

2026: ($628,000 assessed − $477,264 exempt) × 1.3998% ≈ $2,110/yr full-assessment scenario: $628,000 × 1.3998% ≈ $8,791/yr The OPA amount does not prove a ten-year abatement or any other specific program. Obtain the approval history and verify the current Tax Center account; a buyer should not assume the seller's relief transfers or restarts.

The property, on paper

The city assessor's field record — the physical spec sheet behind the assessed number.

Bedrooms
4
Stories
3
Interior
2,500 sqft
livable area
Lot
1,002 sqft
Basement
Full, finished
city code A
Heat
Forced hot air
city code A
Central air
Yes
Garage
1 space
Exterior condition
Newer construction
city code 1
Newer construction
Interior condition
Newer construction
city code 1
Newer construction
Zoning
RM1
city zoning code
Zoning appeals
2
Completed · Granted with conditions · 2023

OPA field-assessment attributes. Condition and grade are the assessor's codes, not an inspection.

Run the numbers

What owning 1242 N 15th St takes, at your price and your rate. Taxes start with an annual estimate from the City’s taxable assessment, not a current bill or balance; rent starts at 2 licensed units × ~85% of the area's median unit rent — the whole building's income, not one unit's. Assessed value is not an asking price — set the price slider to the real one.

$713K
20%
6.875%
$2K/mo

When this house last sold (2022) a 30-year mortgage ran about 5.34% — Freddie Mac's average that year.

Mortgage
P&I · 30-yr fixed
All-in monthly
+ taxes & insurance
Estimated cash needed
down + 4% planning allowance
Modeled cash flow
rent − shown costs · /mo
Modeled cap rate
modeled NOI ÷ price
Modeled cash-on-cash
modeled year-1 return

Scenario for orientation, not advice. Assumes a 30-year fixed loan, $1,400/yr insurance, 1% of price/yr maintenance, and buyer cash equal to the down payment plus 4%. Taxes use this parcel's taxable assessment with an optional full-assessment stress test, not a live Tax Center balance. Cash flow and returns exclude vacancy, management, utilities, HOA or condo fees, leasing costs, income tax, and unplanned capital work.

Block context

1242 N 15th St sits on the 1200 block of N 15th St. Open the block report to compare its parcels, ownership and public-record history.

See the whole block →

Next door: 1240 N 15th St  ·  1238 N 15th St

Where this comes from

Methodology & freshness

This report was assembled Jul 11, 2026, 3:41 AM ET. Available City datasets are queried from OpenDataPhilly (phl.carto.com) and the cited City ArcGIS feeds; record queries paginate rather than silently taking a first page. For this property: Permits: queried · Violations: queried · Investigations: queried · Appeals: queried · Licenses: queried · Building certifications: queried. “Unavailable” means the source query failed or was not supplied, not “no record.” Reports re-pull on view after seven days and on an overnight rolling schedule; citywide benchmarks recompute weekly. Source dates still govern: the parcel-level tax-delinquency snapshot is June 2022 and the separate detailed tax ledger ends in 2016, so neither establishes today’s balance. The live balance and date-effective payoff must be verified in Tax Center. AI-written passages are grounded in the assembled record and rejected if they state a number the record does not hold.

Official city record ↗  ·  L&I history ↗  ·  See the whole block  ·  Download this record (JSON)