Carroll Park - SFH - Buy and Hold

[Michael Lenahan]

Investment Info:

Single-family residence buy & hold investment in Phila.

Purchase price: $40,000
Cash invested: $41,500

Link to photos: https://photos.app.goo.gl/YqAx8eakL3VwhzY79

5503 Master St, Philadelphia, PA is a townhouse home that contains 1,194 sq ft and was built in 1925. It contains 3 bedrooms and 2 bathrooms. This home last sold for $40,000 in November 2019. The Zestimate for this house is $144,303, which has increased by $8,212 in the last 30 days. The Rent Zestimate for this home is $1,300/mo, which has increased by $90/mo in the last 30 days.

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

Former mentor owned and operated this house as an illegal rooming house for years and it fell into disrepair. He sold to me to 40K to get out.

How did you finance this deal?

Redeployed BRRR money and Cash reserves.

How did you add value to the deal?

Total rehab from top to bottom.