1921 W. Berks St.
Phila., Pa  19121

5 BR, 1 BA Single
5 blocks from Temple Univ.
Needs Rehab

Great Student Rental with $800 /mo Cash Flow

$85,000
Seeking Investor/Buyer
to close by Dec. 31

SEE FINANCIAL ANALYSIS
AT BOTTOM OF PAGE


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PROPERTY INFO:

1921 W. BERKS ST.
PHILA. PA.  19121

Lot:                         15 x 53'
Interior Sq. Ft.:     1,446
Taxes:                   ONLY $233/year!!!    Apply for Tax Abatement with your rehab permits and lock your low taxes in for 10 years!

CASH FLOW PROJECTIONS & FINANCING:  (estimated)
ASSUMPTION: BUY CASH, REHAB, & REFI TO HOLD:

Purchase:                $85,000
Closing Costs In:        $4,000
Rehab:                      45,000
Holding Costs:             4,000

TOTAL ACQUISITION COSTS:  $140,000

After Rehab Value:       $200,000


MONTHLY RENTAL INCOME:   
4 Bedrooms -                                              $2,000   

MONTHLY EXPENSES:
Mortgage P & I:                           $989
($140K, 25 yrs,  7%)
Taxes:                                           20
Insurance:                                      66
Maintenance:                                 30

TOTAL EXPENSES:                                - $1,104        

MONTHLY CASH FLOW:        $896 !!!!! 

*This is a rough estimate; buyer should do their own Cash Flow projections based on your financing  & mgmt. choices.




CONDITION/REHAB NOTES:

  • Heater Replaced:  1998
  • Rubber Roof:         2001
  • It is recommended that you convert this to a

                 4 BR, 2 BA for student rentals
  • Add a 2nd full bath on 3rd floor.
  • There's a back room beside kitchen to add a 1st fl. half bath and laundry room.
  • Add Central Air, refinish hardwood floors, renovate kitchen, replace windows, paint or stucco exterior,  replace doors, paint interior, miscellaneous repairs.

  • Estimated Repairs:  $35K to $45K