Honestly: we can’t count the number of reasons to invest in Philadelphia real estate. Low buy-ins. True cash flow. A city on the upswing and property values on the rise. It’s close to New York City and Washington D.C: colleges, hospitals, employers, culture, art – Philadelphia has it all PLUS some incredible deals on turnkey properties. Interested? You should be.
Today’s property is a duplex – which means one property and two rental incomes. We love that, don’t you? Less to manage and more cash in your pocket. Oh yeah: it has tenants (aka cash flow) in place. Easy, hassle-free, head-ache free. Just what our smart Hipster investors want and need for their busy schedules. Let’s take a look! Ready to take the plunge and become a real estate investor? This is a spectacular find….
Location: Philadelphia, PA
Built In: 1916 (but fully renovated)
Purchase price: $107,300 (not a foreclosure, normal sale)
Property info: 2 bedrooms, 2 bathrooms, 1,552 square feet
Monthly rent collected: $1,400
Property taxes: $113
Property management fees: $112
Monthly expenses (conservatively estimated)
Vacancy (7%): $98
Repairs (5%): $70
Total Monthly Expenses- $468
Net Income = Income – Expenses = $932
Cap Rate =
annual net income (non-inclusive of mortgage payment) / purchase price = 10.43%
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 property or seeing others like it, contact Melissa at firstname.lastname@example.org.
Take the plunge: you won’t regret it!