Public Records
Edition
Philadelphia400 block of Wallace StJuly 8, 2026

House report

404 Wallace St

3 bd · 3 ba · 4 stories · 2,930 sqft · ICMX · built 2015

Owner-occupied · assessed $961K · sold 2×. On the 400 block of Wallace St.

Street view of 404 Wallace St
From the street — imagery © Google
From above — imagery © Esri, Maxar
The story of this houseAI · written from the public record

Reading this house's deeds, permits and assessments…

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

The tax bill is temporary

Today's $12,555/yr reflects a 10-year abatement. It jumps to about $13,452/yr in 2027 — $897/yr more. Price the full bill, not the current one.

If you own it

When the abatement ends, file for Homestead

An abated home cannot also take the Homestead Exemption. From 2027 it can — knocking about $1,400/yr off the full bill.

Derived from this house's public records and the city's rules as of 2026 (abatement ordinance, Homestead, rental licensing, lead certification, L&I process, excavation protections). Informational only — not legal, tax, or investment advice.

The investment read

How this house has moved and where it's pointed: the city's assessed value (not a listing price) over 12 years, charted against its block; appreciation is that history's pace, and the 5-year figure simply extends it. Yield estimates rent-vs-price from area rents. Ask the analyst below to dig into any number.

Assessed value
$961K
built 2015
Price / sq ft
$328
block $336 · in line w/ block
Appreciation
+52%
+4%/yr, city 6.5%
In 5 years (~2031)
~$963K
+4%/yr own pace held 5 yrs — extrapolation, not a forecast
Est. tax / yr
$13K
1.31% effective, abated
Gross yield
—
Times sold
2

Value vs. the block, over time — sales, permits & L&I events marked on the line

$0$500K$1.0M2016: Sold $755K2018: Sold $800K$961K201620222027
This houseBlock median & rangeSale
The paper trailNew construction

Bought for $755K in 2016, built new (tax-abated), sold for $800K in 2018.

  1. 2016 $755KSold
  2. 2018 $800KSold

Flags: tax-abated — the bill lags real value. Informational only — not investment advice or a consumer report (FCRA).

The abatement clock

This house pays about $12,555/yr under a 10-year tax abatement. In 2027 the bill reaches its full ~$13,452/yr — a step up of $897/yr. Drag the slider.

2017: ~$2,131/yr2018: ~$2,459/yr2019: ~$2,624/yr2020: ~$2,748/yr2021: ~$2,748/yr2022: ~$2,748/yr2023: ~$2,690/yr2024: ~$2,690/yr2025: ~$2,690/yr2026: ~$2,690/yr2027: ~$12,555/yr2028: ~$13,452/yr (projected)201720272028
2027~$12,555/yrfrom the record

now: ($961,000 assessed − $64,086 abated) × 1.3998% ≈ $12,555/yr 2027: $961,000 assessed × 1.3998% ≈ $13,452/yr Flat 100% exemption (pre-2022 program, started 2017), then the cliff — reassessments move both lines. After expiry an owner-occupant can claim the Homestead Exemption (~$1,400/yr off); an abated home can't hold both.

The house, on paper

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

Bedrooms
3
Bathrooms
3
Stories
4
Interior
2,930 sqft
livable area
Lot
837 sqft
Basement
Full, finished
city code A
Heat
Forced hot air
city code A
Central air
Yes
Garage
1 space
Exterior condition
Above average
city code 3
Interior condition
Above average
city code 3
Quality grade
A-
assessor's grade
Zoning
ICMX
city zoning code

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

Run the numbers

What owning 404 Wallace St takes, at your price and your rate. Taxes are this house's actual bill from the city record; rent starts at the area median. Assessed value is not an asking price — set the price slider to the real one.

$961K
20%
6.875%
$7K/mo

When this house last sold (2018) a 30-year mortgage ran about 4.54% — Freddie Mac's average that year.

Mortgage
—
P&I · 30-yr fixed
All-in monthly
—
+ taxes & insurance
Cash to close
—
down + ~4% costs
Cash flow
—
rent − all costs · /mo
Cap rate
—
NOI ÷ price
Cash-on-cash
—
year-1 return on cash in

Estimates for orientation, not advice. Assumes a 30-year fixed loan, $1,400/yr insurance, 1% of price/yr maintenance; taxes from this parcel's record (with the abatement toggle above).

Next door: 402 Wallace St  ·  406 Wallace St

Where this comes from

City datasets are fetched live from OpenDataPhilly (phl.carto.com) and cached briefly. AI-written passages are generated from these records only and rejected if they state a number the record doesn't hold.

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