We’re back in the city of brotherly love! 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: 1920 (available for CASH PURCHASE ONLY on a “buy-then-renovate” model)*
Purchase price: $159,000 (not a foreclosure, normal sale)
Property info: 4 bedrooms, 2 bathrooms, 1,980 square feet, 2 stories
Monthly rent collected: $1,600
Monthly expenses (conservatively estimated)
Property taxes: $83
Property management fees: $128
Vacancy (7%): $112
Repairs (5%): $80
Total Monthly Expenses- $468
Net Income = Income – Expenses = $1,132
Cap Rate =8.54%
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)
- 12 Months 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
- 6 Months 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
* Philadelphia properties are available for CASH PURCHASE ONLY on a “buy-then-renovate” model. These are properties in high-demand Philly areas. You will get a professionally renovated property, then have the new appraised value be more than your total out of pocket expenses.
Note: The total (already discounted) price shown for all Philadelphia properties includes the price of the distressed property PLUS the full renovation cost.
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!