Relatively Safe Philadelphia neighborhoods that cash flow
Hello all,
I've been doing a lot of research on this forum and have driven to a lot of the Philadelphia areas; the 'hot' neighborhoods that are usually talked about on here are Point Breeze, Passyunk square, Pennsport, Port Richmond, Fishtown, Brewerytown, Kensington, penn's landing, and northern liberties.
Few questions:
1. I am interested in obtaining 3 bed/1 bath rowhouse/townhouses in these areas. What are the typical rents for a mid-grade renovation? Say the house is bought for $50k and has 30k in renovations for an ARV of ~$100-120k? What would typical rents be?
2. What are the other fees aside from property taxes that the city would charge on a home?
3. Which areas would be best for a buy and hold strategy?
4. Which areas would be safest?