WAW-Philadelphia-Nov-2014Guess 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!

Single-Family Home

LOCATION: Philadelphia, PA.

Built In: 1927 (but fully redeveloped, including: plumbing, electrical, you name it)

Purchase price: $68,000 (not a foreclosure, normal sale)

Property info: 3 bedrooms, 1 bathroom, 1,032 square feet, 2+ stories

INCOME

Monthly rent collected: $900

EXPENSES

Monthly expenses (conservatively estimated)

Property taxes: $31

Insurance: $65

Property management fees: $90

Vacancy (7%): $83

Repairs (5%): $45

Total Monthly Expenses- $294

Net Income = Income – Expenses = $606

ADVANCED NUMBERS

Cap Rate = 10.69%

annual net income (non-inclusive of mortgage payment) / purchase price

Cash-on-cash return =

Depends on your leveraging.

SPECIAL TERMS

  • 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 melissa@hipsterinvestments.com.

Take the plunge: you won’t regret it!

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