Rent multiplier in Germantown (Philadelphia), PA

[Dwight Anderson]

I am doing a 3 unit rehab in Germantown and, upon completion, looking to cash out/re-finance with an ARV based on a rent multiplier method as opposed to a CMA as there are no good comps in a reasonable distance. Do lenders use this method or will it be a futile attempt in a 3 unit property? I tried one of the big lenders but they will only use that method on commercial size (5 units).

Thanks in advance

[Brian Amirian]

@Santiago Marquez It seems high for 780 sq.ft. unless you’re North and West towards Mt Airy. I have a just rehabbed rehabbed 3BR/1 bath 1,300+ Sq.ft. for $1500,1 block East of Germantown on Herman.

@Dan Powers West of Germantown Ave and North towards Mt Airy the rents get better. East Germantown is typically lower, with block by clock differences. It’s getting better by the day though...