Greater Philadelphia Area- Best Rental Property Areas

[Rob Roth]

Hi everyone. 

I have been doing research and trying to find a property in north western Philadelphia-Overbrook and Wynnfield nieghborhoods that is either a single family or 2-4 unit residential rental for under 250k.

I want a property to get me at least the 1% rule for rent. I am okay with doing minor renovations and cosmetic updates. I have been really struggling finding properties that meet that 1% rule other than total gut and remodel jobs. This summers increase in home prices has only made it more difficult. 

I am now considering expanding my search area and was wondering if anyone could provide insight on the best suburbs and towns around the Philadelphia area or inside the city to find the best rent to price ratios? I am trying to focus on cash flow and get atleast 10% cash on cash returns. Thank you.  

[Garrett Sowle]

@Rob Roth I think you should be able to get a 1% property in almost any part of the city. For under 250k all in I think you could get something in or around Point Breeze or Brewerytown and possibly be able to see some potential appreciation with how those neighborhoods and the surrounding areas are currently trending. Never count on appreciation but invest in a cash flowing property in an area in the path of progress so that if appreciation happens it's a nice bonus!