As you all know – and well – living in PA is pretty amazing. From job markets to affordable housing to no ends of colleges – not to mention a big Hipster factor – PA is one great place to invest. The market is on the upswing – but not all the way there (leaving LOTS of real opportunity for sustained growth without the annoying competition ….)!
Since we love real data, be sure to check out this information-packed article all about why living in Philly such a great choice (Aside from the cheese steaks, yum).
Location: Philadephia, PA
Built In: 2009 (fully renovated and ready for some great tenants)
Purchase price: $72,500 (not a foreclosure, normal sale)
Property info: 4 bedroom, 1 bathroom, 1,449 square feet
Monthly rent collected: $950 (we love this cash-flow, don’t you?!)
Property taxes: $60
Property management fees: $95
Monthly expenses (conservatively estimated)
Vacancy (7%): $67
Repairs (5%): $48
Total Monthly Expenses- $329
Net Income = Income – Expenses = $621 !!!
Cap Rate =10.14%
Cash-on-cash return =
Depends on your leveraging.
- 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
If you are interested in this amazing property – or seeing others like it, contact Melissa at email@example.com.