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Updated about 1 year ago,

User Stats

60
Posts
10
Votes
Eric Samuels
  • Investor
  • Philadelphia, PA
10
Votes |
60
Posts

Why am I not getting a consistent amount of inquiries on my long term rental unit?

Eric Samuels
  • Investor
  • Philadelphia, PA
Posted

Hi everyone,

My unit 3 bed 1 bath unit in Fishtown, Philadelphia has gone unrented for waaay too long and I'm not sure how to address. I first listed it in April of last year for $1900, dropped to $1850, $1800, $1750, and finally it's at $1675 a month which is way under value. The unit appraised for $1800 a month. I even had a realtor help list it on the MLS and apparently hundreds of other sites and during that time only 3 people looked at the house and overall under 10 people have seen the house since. I have personally listed it on Zillow, Craigslist, and FB marketplace and haven't gotten many bites. I know it's the down season and things should ramp up in the next few months but I feel like I'm missing something. Here's the Zillow and FB market place listings:

https://www.facebook.com/groups/113210443918001/permalink/69...

https://www.zillow.com/b/2401-e-gordon-st-philadelphia-pa-9P...

I'm hoping to get new professional photos because the existing ones are from the previous owner and could be nicer. I'm also considering section 8 which would pay way more but I've heard that my electrical panel would need upgrading which I don't have the money to do without tenants at the moment unfortunately. - https://www.pha.phila.gov/wp-content/uploads/2023/09/HCV-SAF... (zip 19125)

Would love some opinions here.

Thanks,

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