North Philadelphia Off-Market Property. Deal or No Deal?

[Frank Nouma]

Hello BP Family, I would like to get your opinion on this. I recently found a "Deal" in Strawberry Mansion Philadelphia (19121). This is a fully gutted property that will need a complete rehab. Here are the details:

1,074 sq 3b/1ba Rowhouse 2 stories + basement, zoned RSA-5

Asking = $28,000.00

Rehab -> $80,000.00 - $90,000.00

ARV -> $155,000.00 - $180,000.00

Average Rent (3/1) => $1,221 (Per Philadelphia Housing Authority)

Deal or No Deal? Please explain why.