I lived in an area with beautiful historic architecture and saw it rot away for years, neglected by the very same people who scream gentrification at the top of their lungs.They want to live in beautiful areas with lots of amenities and pay rock bottom rents without any hipsters or yuppies moving in.

I called the assessors office and she said it likely could double or triple the taxes but could apply for historic exemption, but I don’t want to count on that and then be left holding the bill which would kill all cash flow.

I’m pretty optimistic but I would keep in mind crime is at historic lows right now, in the areas your looking at.   

The zoning was changed a few years ago to be "form based" which means the city cares more about the historical facade than what goes on behind it in a large part of the city center. 

Keeping an eye on the Washington Heights area, as it seems there is a ton of investing potential there.Looking for people who have street specific knowledge, a gauge on an estimated price per square foot for a rehab, or an understanding of the historical society rules with renovations. 

I historically I think if you look at some of the worst ghettos in our country they are often pretty convenient locations with beautiful buildings.

The 2nd one was a massive project of a 6200SF historic mansion on the waterfront which will be 4 units.

You had to put together the Advanced Business Model which takes your P&L and projects it out to 10 years, make certain assumption on Appreciations using Historic Data, calculate the 10 year Mortgage Balance, 10 year NOI and Cashflows, and boil it down to an Internal Rate of Return (IRR). 

Sometimes lots need, rezoning, variances, perk test for septic, utility service, road access, right of ways, historic clearances, or some other action to enhance the marketability of lots and land. 

Many investors see Philadelphia as an ideal investment environment - for several factors.Just one, is that historically Philadelphia always tends to hold its values, even in 2007.