 Mon, Feb 4 2008 4:24 PM
|
|
billuke
|
Minimal Rehab Rental Property in W. Philly
|
|
If you want an investment property that can be ready for rental within a week or two after settlement, this is it.
This is a nice house that needs minimal cosmetics on a lovely street. Owner has passed away in a nursing home and is being sold by the son, which I met. A new rubber roof was installed in Oct. 2006. Eat-in kitchen with new stove, fenced back yard. Nice security doors in front and back. Newer windows.
Only work needed is paint and carpet for the second floor bedrooms, replace drop ceiling panels in the kitchen and replace electrical breaker box. That’s all! Contractor’s estimate is at $ 3,500.
5725 Filbert St., Phila., PA 19139
Taxes $ 344, 3/1, 1176 sq. ft.
· Positive Cash Flow
· Minimal Rehab, house in good shape
· Below ARV
Comps:
11/29/07 131 N. Edgewood 75K 1088 sq.ft.
8/15/07 149 N. 59th 89K 1152 sq.ft.
7/26/07 5637 Arch 77K 1170 sq.ft.
8/30/07 122 S. 57th 92K 1080 sq. ft.
ARV $ 79,000
Price $ 49,000 (Contract $ 46,000 + $ 3,000)
Rent in this area about $ 750
Cash Out Option:
- 75% LTV = $ 59,000 Mort. Debt, gives youabout $ 6,000 in your pocket with still $ 135 PCF !!!
Call or email me for additional pictures or questions.
Bill Jur
215-435-5180
billuke@covad.net
|
|