Philadelphia St. Joes rental

[Rob Roth]

Hi everyone,

I am in the midst of purchasing a property near St. Joes University in Philadelphia. I have had such a difficult time estimating rents i the area I thought I would see if anyone has any idea on rent per for student housing in the area. The property is a 4 bed 2 full bath 1300 sqft w/ finished basement and medium grade finishes. The property is a 5 minute walk from campus. I have had my realtor run comps and done my own research. I have found such desparity in comps from 1700-3000 a month. Does anyone have any experience of knowledge of this area and give me an idea what I could expect for rent?

Thanks 

[Bill Goodland]

I would see what rentometer says first to get a decent ballpack.

Then look on zillow, realtor, craigslist, facebook marketplace etc. next to get a better idea of what value certain quality units bring. For example, new flooring may mean another $300 in rent in some markets but not matter much in others. 

Lastly, if you're looking specifically to rent to St. Joes students, I would look to see if you can find a St. Joes Off Campus Housing facebook page where people post available off campus rentals which often occur around this time of year for a lease starting in August. Some colleges even have specific offices that assist with this kind of this that you may be able to contact, get a quote of what most students are paying and even list your rental on a school provided off-campus housing portal.