I have an opportunity to invest in a "row house" in Philadelphia (19122 zip code). It is a few blocks from Temple University. Can anyone provide me with some real world (living and/or investing) experience in this area? All options are on the table.
My research, so far, has made me skeptical of this area due to crime, and the status of most other properties in the area (Google street view). Other data available online has left me to believe this area is "not bad" with a low unemployment rate and average home cost around $110k.
Side note: I'll be in class today so my responses may be delayed.
Thanks in advance,
Kyle Mann
I went to temple starting in 1994 and have since watched the area around the school go from very bad to somewhat promising. That being said it is very much block to block and I would recommend walking around to see where this house is. I've been interested in buying in this area as well but I've been hesitant because I know that I wouldn't live there myself. To put it bluntly it's a tough area to buy in if you don't know it well.
I went to temple starting in 1994 and have since watched the area around the school go from very bad to somewhat promising. That being said it is very much block to block and I would recommend walking around to see where this house is. I've been interested in buying in this area as well but I've been hesitant because I know that I wouldn't live there myself. To put it bluntly it's a tough area to buy in if you don't know it well.
I agree with Matt. Temple area investing requires a lot of knowledge of the area or luck. Most properties advertised as temple are in locations that temple students would not rent in.
Hi Kyle, if you don't know the area well, I'd be happy to give you some advice. I specialize in the off campus housing market at Temple and know the neighborhood very well. What are the cross streets of your row house?
One thing about the Temple area, while it may be lucrative in terms of an investment, the area is quite promising but it's a student demographic. You have to consider this as your income would come from student off campus rentals. Students tend to be a little harder on property than other types of renters. You would have to consider extra wear and tear and possible destruction. But if you are prepared for that...go for it
Hi Kyle, if you don't know the area well, I'd be happy to give you some advice. I specialize in the off campus housing market at Temple and know the neighborhood very well. What are the cross streets of your row house?
Don't want to hijack OP's thread but I also am interested in the Temple area. What would you say the borders are for students renting? I'm looking at a house on 18th street and below susquehanna. Thanks for any advice.