Note: This Property Has Now Sold
We talk a lot about Philadelphia, the city of brotherly love, on this blog (did you catch the amazing webinar?) – and for good reason. Philadelphia is amazing for us real estate investors. Appreciation is on the upswing – but it’s still got a lot of upward momentum going forward (exactly what you want to look for when you invest in real estate).
Beyond just fundamentals, it has a thriving tenant population – its abundance of hospitals, employers, universities and proximity to DC all make this city a very loveable place for investors.
Even better – we just found you a FOURplex. Yep, folks, that’s four times the rental income in one single property. Can we say cash-flow enough? Take a look.
The photo above is an example of a Philly Fourplex.
As we are rushing to get you the info, we don’t have the finalized image up yet!
Location: Philadelphia, PA
Built In: 1945 (fully renovated and rented – tenant in place as condition of closing!)
Purchase price: $150,500 (not a foreclosure, normal sale)
Property info: 5 bedroom, 4 bathroom, 1,877 Square Feet
Income
Monthly rent collected: $2,200
Expenses
Monthly expenses
Property taxes: $143
Insurance: $80
Home Owners Association: $0
Property management fees: $220
Monthly expenses (conservatively estimated)
Vacancy (7%): $154
Repairs (5%): $110
Total Monthly Expenses- $707
Net Income = Income – Expenses = $1493
-imagine what you could do with this cash-flow?
Advanced Numbers
Cap Rate =11.90%
Cash-on-cash return =
Depends on your leveraging.
Special Terms:
- Deal Applies Only If Reserved Before June 20th
- 1 Year Rental Guarantee: Property manager will pay you the full gross monthly rene event that any of your tenants default during your first year of ownership
- 1 Year Maintenance Guarantee: Property manager will cover all labor and materials for any maintenance required during your first year of ownership
- 15-Year Roof Warranty: All properties come with a 15-year roof warranty
Oh man, I see this one sold. I am interested in properties like this. How can I find more? ….You rock. Thanks for the info.
Yep, it sold literally within minutes of getting posted. We’ll email you and connect you with the seller so you can be in line for the next one.
Is the fourplex still availible that you just posted on twitter?
Hi Arsene! It sure is – at the moment. Want us to email you – or you can send us one too – ali@hipsterinvestments.com