Property Is No Longer Available
Read yesterday’s post all about the five markers of a quality turnkey market? Were you with us for the amazing webinar all about our favorite new turnkey market? If not, here’s the 411: we’re pumped to introduce the Hipster community to our first new pick in the city of brotherly love. Today’s property is nothing short of amazing…why? Well, for one thing – it’s a triplex (and you know how much we love the triplex for great ROI’s). Oh, you close with tenants in place as a condition of closing! Not to mention the one year rent guarantee, the one year home warranty or the 15 year roof warranty it comes with..
First things first, though: why do we love Philly? The cheese steaks? The history? The sports? Yes, all of that plus: Philadelphia is an amazing opportunity for investors right now. The market is on the upswing – but it’s still priced 16 percent below peak value market – making the timing just right for buying. The vacancy rate is below 5% – just what we look for to safeguard your investment – and Philly’s unemployment rate is significantly below the national average. Bottom line? Buy in Philadelphia now to really hit your ROI out of the ballpark…Philadelphia is a real estate rock star, and so is today’s triplex.
Note: This triplex will probably go fast, as it is such a great deal and a triplex is hard to find, but don’t worry – there will be more Philly finds coming your way!
Location: Philadelphia,PA. Built In: 2006 (fully renovated)
Purchase price: $127,500 (not a foreclosure, normal sale)
Property info: 3 bedroom, 3 bathroom, 2,2790 square feet (3 floors, triplex)
Monthly rent collected: $1,950
Property taxes: $105
Property management fees: $195
Monthly expenses (conservatively estimated)
Vacancy (7%): $137
Repairs (5%): $98
Total Monthly Expenses- $614
Net Income = Income – Expenses = $1336
Cap Rate =
annual net income (non-inclusive of mortgage payment) / purchase price = 12.57%
Cash-on-cash return =
Depends on your leveraging.
If you are interested in this property or seeing others like it, contact Melissa at email@example.com.