Investing in Philadelphia 19140

[Jayson Greenblatt]

I was wondering who is investing in the 19140 zipcode. I was looking around there yesterday and was wondering how others have made out. What are reasonable rents and what are reasonable prices to pay o. Single fam and multis?

[Jimmy O'Connor]

@Jayson Greenblatt I'll try and address some of the points here throughout this chain. 

1) 19140 is definitely a strong rental market, certain pockets closer to Germantown see higher ARV if you are looking to flip.

2) Taxes are dirt cheap over there, ranging usually between 300-500 annually. 

3) @David Bokman that seems to be the average of the whole zip code but the 19140 area encompasses a large area- there are several properties North of Erie West of Broad that sell 125-140k for a typical row home around there (most properties are 1200-1400 square feet). East of Broad gets rough, definitely, a rare sight to see standard row homes sell for much more than 100k, usually around that 65-75k mark if they are in decent shape and as low as 20k for on market prices in rough shape.

4) The appreciation play is speculative but the city is actually planning on pumping in money to the Plaza at Broad and Erie since it has so much foot traffic and capacity for commercial. (Apparently, a Marriott is in the works ). That is right by Temple University Hospital.  On top of that, you have Germantown on the NW Boarder of that Zip code. HOWEVER- East of Broad and that high north beyond Lehigh will likely not see significant appreciation for a WHILE. @Chris Martino is right about Kensington in the more immediate future since they already have large brand new multifamily properties at borders of that were once thought to be uncrossable (I'm looking at you, Lehigh Ave).

5) @Alan Blitz I think you are talking about is Mantua/Belmont/Parkside/Possibly Wynnefield Territory (labeling those from south going north to Girard and slightly above). Mantua is appreciating due to its proximity to U-City. Wynnefield is hot due to its proximity to Mainline. In that pocket, Lancaster Ave is a pretty hard border that, when crossed, can take you into Prince of Bel Aire territory of West Philly. 19104 I believe in the zip code that contains all those neighborhoods.

Hope this helps!