We don’t want to tell you how much weight we’ve gained ever since we fell in love with those iconic philly cheese steaks – and the whole city itself. Why? Well, as if you didn’t already know from this blog, simply put: Philadelphia is an absolute dream for an investor looking for low-key, hassle-free monthly cash flow and a steady stream of tenants alongside ace property managers.
It’s also on the rise – but it’s not at the top yet. So – regardless of your tactic – buy and hold or buy, hold for a while and then sell – you’re in good shape when you invest in the city of brotherly love.
Today’s two story single family Philly house is a dream for an investor looking to get in to the game. It’s already rented, comes with amazing guarantees so you can ditch the cold feet – and is available for a very low buy-in rate. Salivating yet? Sound too good to be true? Well – see for yourself (and be sure to take note of the low monthly expenses and the guarantees!!!).
Location: Philadelphia, PA
Built In: 1937 (fully redeveloped)
Purchase price: $65,000 (not a foreclosure, normal sale)
Property info: 3 bedrooms, 1 bathroom, 1,093 square feet
Monthly rent collected: $850
Property taxes: $60
Property management fees: $85
Owner Paid Utilities: $0
Monthly expenses (conservatively estimated)
Vacancy (7%): $60
Repairs (5%): $43
Total Monthly Expenses- $252
Net Income = Income – Expenses = $598
Cap Rate =
annual net income (non-inclusive of mortgage payment) / purchase price = 11.03%
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 property or seeing others like it, contact Ali at email@example.com. Take the plunge: you won’t regret it!