What's Available Wednesday? Philadelphia!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.

Beyond the basic tourist trappings, 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

Location: Philadelphia,PA

Built In: 1920 (available for CASH PURCHASE ONLY on a “buy-then-renovate” model)*

Purchase price: $88,000 (not a foreclosure, normal sale)

Property info: 3 bedrooms, 1 bathroom, 1,092 square feet, 2 stories

Income

Monthly rent collected: $950

Expenses

Monthly expenses (conservatively estimated)

Property taxes: $67

Insurance: $65

Property management fees: $76

Vacancy (7%): $67

Repairs (5%): $48

Total Monthly Expenses- $322

Net Income = Income – Expenses = $629

Advanced Numbers

Cap Rate =8.57%

Cash-on-cash return =

Depends on your leveraging

Special Terms:

  • 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 melissa@hipsterinvestments.com – we’ll get right back to you!

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