2246 Cross st st New construction of a single - family house

[Tairone Dos Reis]

Investment Info:

Single-family residence buy & hold investment in Philadelphia.

Purchase price: $65,000
Cash invested: $250,000
Sale price: $550,000

The new construction home located at 2246 Cross St Philadelphia PA 19146 features a beautiful custom brick front with large windows that stretch from floor to ceiling, allowing for ample natural light to enter the living spaces. The back of the house is fitted with custom viroc cement panels and pavers, which add to its visual appeal.

Inside, the house boasts a cozy fireplace and spacious 10-foot ceilings, providing a comfortable and inviting living space. The kitchen is fitted with custom-made cabinets, a cooktop, a wall oven, a pot filler, and a custom cement countertop. Additionally, each floor is equipped with a central vacuum for easy cleaning.

The house is adorned with beautiful white oak hardwood flooring, and the metal floating stairs are custom-made, adding to the modern, luxurious aesthetic of the home. Other notable features include a full hall bathroom, a laundry area, custom-built closets, a walk-in closet, and a custom bar. Skylights provide plenty of natural light and give the house a bright and airy feel.

The icing on the cake is the stunning city view that can be enjoyed from the house, making it a truly unique and desirable living space.

How did you finance this deal?

The construction of the new home at 2246 Cross St Philadelphia PA 19146 was financed through a Hyperion Bank construction loan. A construction loan is a type of short-term loan that is used to finance the construction of a new property, and is typically paid back with a long-term mortgage once construction is complete. Hyperion Bank is a local community bank in Philadelphia that offers construction loans, among other financial services, to individuals and businesses.

How did you add value to the deal?

By building a new single-family house, i added value in several ways. Firstly, i created a new living space that can be enjoyed by its future occupants, providing a home for a family or individuals looking for a place to call their own. Additionally, new construction homes often feature modern amenities and designs that meet the needs and desires of today's homeowners, making the property more attractive to potential buyers.

What was the outcome?

As the owner of the property, i have the potential to benefit financially through appreciation in the property's value over time, as well as rental income if i choose to rent the property out. Overall, building a new single-family home can provide numerous benefits and add value in many different ways.