Updated almost 11 years ago on . Most recent reply
Philadelphia Neighborhoods - Fishtown, Port Richmond, Bridesburg, Kensington
Hello all. So these are the areas I'm interested in: Fishtown, Port Richmond, Bridesburg. I like these areas because of the low vacancies, gentrification, younger professionals moving in, and above average cap rate. I looked at Kensington but was told to stay away from it because the neighborhood is going nowhere fast. I'm looking for a duplex, triplex, or quadplex. Looking to buy something for under $200k and I'd like $900 in monthly rent for every $50k I spend. The $50k includes repairs to get the place rent ready. What do you guys think about these neighborhoods? Do you think I can find something with these numbers? I'm getting mixed answers from agents and property manager. And do you think it's better to find a place that's fully occupied or vacant? Does either situation help in my negotiations? Thanks in advance for the replies.