Because let’s get real. We’ve gained about 100 pounds just because we love investing in Philadelphia and those darn cheese steaks so much. Yikes! But how can you beat market rents increasing 10% in the last 4 years? Or how the market-wide vacancy rate remains under 5% (which means there’s a high demand for rental properties)?
So how about it? Ready to check out this triplex that puts $1,362 in your pocket every month? Better jump on it fast before it’s snapped up by someone else!
Built In: 1915 (fully renovated)
Purchase price: $135,000 (not a foreclosure, normal sale and with tenants in place as condition of closing!!)
Property info: 3 bedrooms, 3 bathrooms, 1,980 square feet, 2+ stories
Monthly rent collected: $1,950
Property taxes: $83
Property management fees: $195
Monthly expenses (conservatively estimated)
Vacancy (7%): $137
Repairs (5%): $98
Total Monthly Expenses- $588
Net Income = Income – Expenses = $1,362
Cap Rate =
annual net income (non-inclusive of mortgage payment) / purchase price = 12.11%
Cash-on-cash return =
Depends on your leveraging.
- 1 Year Rental Guarantee:
Property manager will pay you the full gross monthly revenue 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 email@example.com. Take the plunge: you won’t regret it!