Long time no see, Philly! Who’s ready for a little cheese steak and cash flow? We are! The market here is on an upswing – but there’s still room to get in while the going’s hot. There are tons of job opportunities. Colleges. Employers. Ready renters.
And yes. We are still eating and loving those famous Philly cheese steaks. The black and white cookies are pretty good – and the liberty bell – well it’s the Liberty Bell, after all. Beyond the basic tourist trappings, and they’re touristy for good reason, Philadelphia has a lot to offer the savvy investor.
Simply put, Philly is opportunity for an investor who wants a hot deal at a hot price. Check out the latest deal we found and add it to your portfolio!
Single Family Home
Built In: 1950 (fully renovated with a tenant in place as condition of closing)
Purchase price: $149,000 (not a foreclosure, normal sale)
Property info: 3 bedrooms, 1 bathroom, 1,158 square feet, 2 stories
Monthly rent collected: $1,500
Monthly expenses (conservatively estimated)
Property taxes: $120
Property management fees: $120
Vacancy (7%): $105
Repairs (5%): $75
Total Monthly Expenses- $485
Net Income = Income – Expenses = $1,015
Cap Rate =8.18%
Cash-on-cash return =
Depends on your leveraging
- Appraisal Guarantee: Renovated property guaranteed by Seller to appraise for more than you paid (or seller will buy it back)
- 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 amazing property – or seeing others like it, just contact Melissa at firstname.lastname@example.org – we’ll get right back to you!