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
Monthly rent collected: $2,200
Property taxes: $143
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?
Cap Rate =11.90%
Cash-on-cash return =
Depends on your leveraging.
- 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