The Block Report

House report

4223 Wallace St

3 bd · 1 ba · 2 stories · 756 sqft · RSA6 · built 1925

Owner-occupied · assessed $99K · sold 2×. On the 4200 block of Wallace St.

Street view of 4223 Wallace St
From the street — imagery © Google
From above — imagery © Esri, Maxar

Property summary

Assessment$99KCity assessed value Last sale$22KRecorded 2011 Est. taxes$0/yearAnnual city record Permits0Shown in this report ViolationsNone openNo open L&I cases

What stands out

From the public record
Finding

New construction

Why it matters

Bought for $10K in 2004, built new (tax-abated), sold for $9K in 2011.

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

The tax bill is temporary

Today's $0/yr reflects a 10-year abatement. It steps up every year and reaches about $1,389/yr in 2037 — $1,389/yr more. Price the full bill, not the current one.

Built 1925: lead rules apply

Federal law requires a lead-paint disclosure at sale for any pre-1978 home. If it will be rented, Philadelphia also requires a lead-safe or lead-free certificate before a rental license can issue.

Zoned RSA6: one household by right

Single-family attached, small lot. Converting to a duplex or apartments needs a use variance the zoning board rarely grants — Pennsylvania courts require a physical hardship of the lot itself, and economics alone do not qualify.

If you own it

When the abatement ends, file for Homestead

An abated home cannot also take the Homestead Exemption. From 2037 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 record to dig into any number.

Assessed value
$99K
built 1925
Price / sq ft
$131
block $133 · in line w/ block
Appreciation
+115%
+7%/yr, city 6.5%
In 5 years (~2031)
~$100K
+7%/yr own pace held 5 yrs — extrapolation, not a forecast
Est. tax / yr
—
Gross yield
—
Times sold
2

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

$0$100K$200KBefore this chart — 2004: Sold $10K 2011: Sold $9K$99K201620222027
This houseBlock median & rangePermit

The paper trail

New construction

Bought for $10K in 2004, built new (tax-abated), sold for $9K in 2011.

  1. 2004 $10KSold
  2. 2011 $9KSold

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 $0/yr under a 10-year tax abatement that steps down every year. In 2037 the bill reaches its full ~$1,389/yr — a step up of $1,389/yr, 10 assessment years out. Drag the slider.

2016: ~$645/yr2017: ~$645/yr2018: ~$645/yr2019: ~$885/yr2020: ~$918/yr2021: ~$918/yr2022: ~$918/yr2023: ~$171/yr2024: ~$171/yr2025: ~$88/yr2026: ~$88/yr2027: ~$0/yr2028: ~$139/yr (projected)2029: ~$278/yr (projected)2030: ~$417/yr (projected)2031: ~$556/yr (projected)2032: ~$695/yr (projected)2033: ~$833/yr (projected)2034: ~$972/yr (projected)2035: ~$1,111/yr (projected)2036: ~$1,250/yr (projected)2037: ~$1,389/yr (projected)2038: ~$1,389/yr (projected)201620372038
2027~$0/yrfrom the record

now: ($99,200 assessed − $99,200 abated) × 1.3998% ≈ $0/yr 2037: $99,200 assessed × 1.3998% ≈ $1,389/yr The abated slice shrinks ~10% a year (post-2022 program, started 2027) — 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
1
Stories
2
Interior
756 sqft
livable area
Lot
640 sqft
Exterior condition
Average
city code 4
Interior condition
Average
city code 4
Quality grade
C
assessor's grade
Zoning
RSA6
city zoning code

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

Run the numbers

What owning 4223 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.

$99K
20%
6.875%
$725/mo

When this house last sold (2011) a 30-year mortgage ran about 4.45% — 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).

Block context

4223 Wallace St sits on the 4200 block of Wallace St. Open the block report to compare its parcels, ownership and public-record history.

See the whole block →

Next door: 4221 Wallace St  ·  4225 Wallace St

Where this comes from

Methodology & freshness

City datasets are fetched live from OpenDataPhilly (phl.carto.com) and cached briefly. Dossiers re-pull automatically — on view once they're a few weeks old, plus a nightly rolling sweep — and citywide benchmarks recompute weekly. 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)