First and foremost: amazing buy in price, amazing ROI on this one.
Philadelphia is a market on the rise – and Hipster loves markets on the rise. We also love the liberty bell, the proximity to DC, the booming job market, all of the great colleges – and of course, those legendary Philly cheese steaks (regular or vegetarian).
If you want to buy in to a fully renovated turnkey property that puts cash in your bank each month, this one could be your next buy. The price point is affordable, the return is strong – the fundamentals are excellent. We love this seller. We love this city. We love this single family. Oh, and we love the cash-flow here. Check it out.
Built In: 1932 (fully renovated, tenant in place as condition of closing)
Purchase price: $63,000 (not a foreclosure, normal sale)
Property info: 3 bedroom, 1 bathroom, 1,120 square feet
Monthly rent collected: $900
Property taxes: $81
Property management fees: $90
Monthly expenses (conservatively estimated)
Vacancy (7%): $63
Repairs (5%): $45
Total Monthly Expenses- $339
Net Income = Income – Expenses = $562 !
Cap Rate =10.70%
Cash-on-cash return =
Depends on your leveraging.
If you are interested in this amazing property – or seeing others like it, contact Melissa at email@example.com.