Revisiting a "boring" investment 4 years later

[Sheryl Sitman]

Investment Info:

Single-family residence buy & hold investment in Philadelphia.

Purchase price: $88,294
Cash invested: $39,451

Our specialty is boring investments. This one was as boring as it gets. Over time, it is generating solid ROI and very nice appreciation.
Rent: $1,320 — same tenant for 4 years (need to raise rent)
$15840/yr Gross Income
taxes $1750
insurance $850
Market Value as of 12/2019: $180,000
Neighboring homes on market in Spring 2020 for over $200k

To date, required large repair to HVAC and a few small maintenance repairs.

What made you interested in investing in this type of deal?

Solid investment and the neighborhood was just starting to improve. My parents owned their very first home in the same neighborhood in the '50's

How did you find this deal and how did you negotiate it?

MLS, fast decision, aggressive offer

How did you finance this deal?

Cash

What was the outcome?

Steady ROI approaching 9% Plus fantastic appreciation

Lessons learned? Challenges?

Overdid the rehab and did not raise rent until now.