Calling all investors, house-hackers, and hands-on first-time buyers: this classic brick rowhome in Southwest Philadelphia's Elmwood/Kingsessing section is ready for a full renovation and priced to make the numbers work. Sold as-is, this 3-bedroom, 1-bath home offers the bones and layout of the well-kept rowhomes throughout the block, just waiting for a new kitchen, updated systems, and a modern finish.
At $99,000, this property is priced to leave substantial built-in equity for the buyer who puts in the renovation work. The home right next door was sold recently by the same listing agent.
For the buy-and-hold investor, three-bedroom rentals in Kingsessing are currently commanding around $1,700/month, putting this property on track for strong cash-on-cash returns once renovated. For an owner-occupant, the layout and neighborhood rents also support a house-hack strategy -- live in part of the home while renting out the rest to offset the mortgage. It's an equally compelling entry point for a first-time buyer looking for a sweat-equity project in a location with real upside.
Location works in this property's favor. It sits about a block from Elmwood/Woodland Avenue, a corridor of restaurants, markets, and corner stores, and roughly 0.1 miles from SEPTA's Route 11 (T4) trolley line, giving quick, direct transit access to University City -- home to Penn, Drexel, Penn Presbyterian Medical Center, HUP, and CHOP -- as well as Center City, about 6 miles away.
Bring your contractor and your vision. Renovation/rehab financing (such as an FHA 203(k) or investor rehab loan) is recommended given the property's condition.
Book your showing today. This won't last long!
