623 N 32Nd Street, Philadelphia, PA 19104-3787 $419,900
With Pending Contract
Interior Sq. Ft: 2,667
Acreage: 0.04
Age:89 years
Taxes: $11,446
Design/Type:
Interior Row/Townhouse
Description
NOTE: Property is hugely over Assessed. The assessment has been appealed and we're awaiting agreement and adjustment by the city...call listing agent for any questions. Example: if the new 2014 assessment should be set at the current list price, the real estate tax amount might be: $419,900 (sales price) X .013998 (2024 City and SD tax rate) = $5,877.76 annual tax). Attention Investors!! Don’t wait! 2015 renovated legal Triplex in the Mantua/University City area; just blocks from UPenn, Drexel, the Zoo, Mann Music Center and Art Museum. Easy to get to/ from with I76, Vine Street Expwy with MLK Drive immediately contiguous and public transportation steps away. All units in the building are similar including: unit layout, color scheme, kitchen amenities, appliances, granite countertops, hardwood floors, etc. Each is a 2bd/1bath units and all renovated from the studs out in 2015 including all new electrical, HWH, appliances, one or more of the forced air Heating units replaced, Fire Alarm system (recent inspection), etc; keep your maintenance costs at a minimum! All utilities separate and paid by the tenants except water/sewer. Common area Washer/Dryer in basement. Buyers' agent responsible for confirmation of real estate taxes given recent Phila re-assessment and current Tax Appeal. Pro Forma numbers reflective of property taxes at approximate sale price as listed. Remaining tenant is long term and under rented at $1,000/month, the difference available to significantly impact future cap rate. Units should rent closer to $1350/mo. Cap Rate based on pro forma projected annual rents @ $1350/mo and 2024 real estate tax rates assuming adjustment by appeal based on sales price. Current tenant(s) are M2M tenants. All of the units are similar. Cap Rate Calc Example: Projected rental income: $1350 x 3 x 12 = $48600. Projected Expenses: $5,877 (Est Taxes after Appeal) + 2350 (Est Ins) + 165 (Ann Rent Lic Fee) + 350 (Ann Trash Fee) + 600 (CAM/util) + 1200 (Water & Sewer) = $10,542. $48,600 - $10,542 = Est $38,058 (NOI) / $419,900 (List price) = 9.06% Cap Rate.
Home Assoc: No
Condo Assoc: No
Buyer Agency Comp*: 3 % Of Gross Seller Concession: N
Basement: Y
Pool: No Pool
Features
Utilities
Forced Air Heating, Natural Gas, Window Unit(s) Cooling, Electric, Hot Water - Natural Gas, Public Water, Public Sewer
Garage/Parking
On Street
Interior
Dining Area, Floor Plan - Open, Upgraded Countertops, Wood Floors, Hardwood Flooring, Dry Wall, Fire Detection System
Exterior
Brick/Mortar Foundation, Masonry
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Public Elementary (150 schools)
Public Middle (26 schools)
Public High (64 schools)
Private (125 schools)
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This report is a detailed community overview for Philadelphia (19104), Pennsylvania.
Community Quick Facts
- Average travel time to work for people in this community: 25
- Average salary of people in this community: $28,702
Community Summary
- Population Density (ppl / mile): 17,049
- Household Size (ppl): 2.39
- Households w/ Children: 45%
Housing Inventory
- Owned: 3,502 (17.5%)
- Rented: 12,838 (64.0%)
- Vacant: 3,713 (18.5%)
- Total: 20,053
Population Demographics
The population of the community broken down by age group. The numbers at the top of each bar indicate the number of people in the age bracket below.
Climate and Weather
The Temperature chart displays average high and low values for January and July, and is designed to provide an indication of both seasonal and daily temperature variability. The Weather Risk Index indicates the calculated risk of each type of weather event occurring in the future. This risk is based on historical localized storm events and weather patterns. The national average for each type of weather event equals a score of 100, so a score of 200 would represent twice the risk as the national average, and a score of 50 would represent half the risk of the national average.
Temperature
Education
Highest Level of Education Attained
- Less than 9th Grade: 2.2%
- Some High School: 12.4%
- High School Graduate: 25.2%
- Some College: 17.4%
- Associate Degree: 3.9%
- Bachelor's Degree: 18.7%
- Graduate Degree: 20.3%
Income by dollar range
Median Income: $26,979
Fair Market Rents
The Fair Market Rents show average gross rent estimates based on figures provided by the U.S. Department of Housing and Urban Development (HUD).
- Studio: $966
- One Bedroom: $962
- Two Bedroom: $1,033
- Three Bedroom: $1,033
- Four Bedroom: $1,130
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Contact Information
Schedule an Appointment to See this Home
Request more information
or call me now at 302-545-2233
Listing Courtesy of: Bainbridge Realty LLC , (267) 519-9275, hanningesq@comcast.net
The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Patterson-Schwartz Real Estate participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information Deemed Reliable But Not Guaranteed.
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Listing data as of 7/05/2024.