Updated over 4 years ago on . Most recent reply
Investing in Darby, PA
I'd love to hear various investors' opinions on Darby. Many investors I know refuse to buy anything in Darby. Common issues making this town a no-go zone for both seasoned and new investors alike are high taxes, safety in the area and lack of longer term appreciation outlook.
That being said, other investors I work with love to buy in this area thanks to the lower acquisition costs, decently higher rents/cashflow and opportunity for guaranteed income thanks to Delco's relatively simple Section 8 program (simple in contrast to Philadelphia county where a S8 license is required). Many investors I work with have had plenty of success with the properties they have bought here in raising rents and dealing with minor maintenance issues left behind by the previous owner.
Additionally I've noticed the values in Darby keep rising as some investors are not afraid to flip houses in this area for quick profits with less work needed in rehab. I've seen a few unbelievable comps selling in the 170s, 180s and even as high as $225k! I've heard the (somewhat) tounge-in-cheek expression thrown around that "Darby is the new Point Breeze".
What are your thoughts on investing in Darby? Do you currently own any rentals in Darby, and how have they performed for you since closing? Do you write this zipcode off as a no-go zone, and if so, why? Would you ever consider flipping here? Is Darby the next Point Breeze?