Guess which city we love today? Here’s a hint – it’s the city of brotherly love! That’s right, we’re back to eating cheese steaks again today off in Philly! Hipster has its eyes on Philadelphia for several reasons! First, it’s got these amazingly low and super investor-friendly buy in prices! Next, it’s job-centric with job creation being seriously on the rise here. Finally, this little city that could and can is home to 92 colleges and universities – making it super stable for the rental pool! Today’s hot find is a real gem – check it out!
LOCATION: Philadelphia, PA.
Built In: 1925 (but fully renovated)
Purchase price: $76,450 (not a foreclosure, normal sale)
Property info: 3 bedrooms, 1 bathroom, 1,014 square feet, 2 stories
Monthly rent collected: $950
Monthly expenses (conservatively estimated)
Property taxes: $41
Property management fees: $95
Vacancy (7%): $67
Repairs (5%): $48
Total Monthly Expenses- $315
Net Income = Income – Expenses = $635
Cap Rate = 9.97%
annual net income (non-inclusive of mortgage payment) / purchase price
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 Melissa at firstname.lastname@example.org.
Take the plunge: you won’t regret it!