Yup – we’re back to eating cheese steaks again this week – but boy, do they taste good. If you’re a longtime blog reader, you know we’ve fallen in love – with the city of brotherly love (otherwise known as Philadelphia). Why are we so gaga for this real estate investment market? Well, it’s on the upswing – but it’s not totally there yet (which means your property appreciates – something any investor can appreciate…). Beyond that, there are some real values to be found if you enjoy a deep discount (and let’s be honest – who doesn’t….!?
Philadelphia is chock full of stable renters who want the properties our favorite supplier here is offering. Check out the details and be sure to reach out for more info about this particular awesome pad or similar ones. Today’s featured find is an oldie but goodie; your contact information is right at the bottom.
Built In: 1925 (fully renovated and rented!)
Purchase price: $65,00 (not a foreclosure, normal sale)
Property info: 3 bedroom, 1 bathroom, 1,325 square feet, 2 Car Garage
Monthly rent collected: $900
Property taxes: $71
Home Owners Association: $0
Property management fees: $90
Monthly expenses (conservatively estimated)
Vacancy (7%): $63
Repairs (5%): $45
Total Monthly Expenses- $329 (yes, low – we obviously like this)
Net Income = Income – Expenses = $571 ! Wooot: imagine what you could do with this cash-flow each month… comment below if you’re so inspired!
Cap Rate =10.54%
Cash-on-cash return =
Depends on your leveraging
- 1 Year Rental Guarantee: Property manager will pay you the full gross monthly rent in the 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
If you are interested in this amazing property – or seeing others like it, just contact Ali at firstname.lastname@example.org – we’ll get right back to you!