BRRRR in Suburban (good schools) Philadelphia

[Elaine Lai]

I saw a house yesterday that is gutted and cleaned out. New electric, roof, porch, plumbing, drywall. The work is solid but unfinished. Needs full bathroom (shower, toilet, sink, etc) and kitchen. After renovation value in the area is about $150k for old but livable, to $220k+ for nicely updated homes. There is a lot of construction happening in the area. Luxury apartments and single homes. Walking distance to the Philly train and Main St. w/ good breweries, restaurants and shops. They have an offer for $90k cash and wanted to know if I can top it. At $95k cash with a $45k renovation budget, do you think it’s still worth it?? The area is a Blue Ribbon school district BTW. Thank you!