2541 W Seltzer St, Philadelphia PA 19132

3 bed/2 bath SFR / 788 sq ft / BRRRR Turnkey

 

About the project

This is a brick turnkey property in the North Philadelphia West neighborhood. It was built in 1915 and requires extensive cosmetic interior renovation. Lots of street parking available. Close to public transportation and shopping.  We believe there is 20% equity built in to the pricing on this SFR. With a full 9.15% Cap Rate and appreciation potential, this is a great addition to your portfolio.

Price:                              $95,000

Renovation:                  $20,000

Total All In:    $115,000

Rent:                                $1,200/mo

Property Mgmt (10%):   $120

Insurance:                       $58

Taxes:                               $60

Licenses:                         $25

Maintenance (5%):         $60

Vacancy (7%):                 $84

Total Expenses:              $407

NOI per month:              $793

Cap Rate:                         8.28%

GRM:                                 7.22

Comps*:                           $130,000

* Comps are NOT a guarantee, but an estimation of after repair value (ARV)