Patterson-Schwartz Real Estate1944 E Somerset Street, Philadelphia, PA 19134-3453 $79,900
Interior Sq. Ft: 1,018
Acreage: 0.02
Age:99 years
Style:
Other
Subdivision: Port Richmond
Design/Type:
End of Row/Townhouse
Description
### Investor Special: 1944 E Somerset St, Philadelphia, PA **Price: $79,900** **Type: Cash or Commercial Lending Only** Welcome to an exceptional investment opportunity in one of Philadelphia's most rapidly transforming neighborhoods! 1944 E Somerset St is primed for the savvy investor looking to capitalize on the burgeoning real estate market in this vibrant area. Property Overview This property presents a unique chance to acquire a diamond in the rough. The home requires significant renovations but is perfectly situated to take advantage of the ongoing revitalization efforts in the neighborhood. As an investor special, this property is available for cash buyers or those utilizing commercial lending—making it an excellent fit for those ready to dive into a project with significant upside potential. Neighborhood Growth E Somerset St is located in a neighborhood experiencing a renaissance, with new developments, trendy cafes, and local shops breathing fresh life into the area. The proximity to major transportation routes and the emerging cultural scene make this location increasingly desirable. Investors can expect an uptick in property values as more people are drawn to the charm and convenience of this community. Financial Highlights- **As-Is Cash Sales**: Comparable properties in the area are selling for around $100,000 in their current condition, highlighting the competitive market for renovation projects.- **After Repair Value (ARV)**: Once revitalized, this property has an impressive after repair value reaching up to **$300,000**. This substantial difference between the purchase price and ARV signifies a lucrative investment opportunity.- **Return on Investment**: If purchased at the listed price of $100,000, the potential return on investment is nothing short of beautiful. With smart renovations and updates, investors can expect to see significant equity growth once the property is brought up to market standards. Renovation Potential Imagine transforming this property into a modern living space that reflects the vibrant energy of the neighborhood. With careful planning, your renovations can include open-concept living areas, updated kitchens, and stylish bathrooms that appeal to today’s buyers. The property’s layout offers flexibility, allowing for creativity in design that can maximize rental income or resale value. Investment Strategy This property is ideal for both seasoned investors looking to expand their portfolios and newcomers eager to dive into real estate. Whether your plan is to flip the property for a quick profit or hold onto it for rental income, the potential here is remarkable. Given the neighborhood's upward trend, your investment will not only contribute to the local economy but also provide a substantial return as the area continues to grow. Conclusion Don't miss out on this incredible investment opportunity at 1944 E Somerset St, Philadelphia, PA. With the right vision and investment, this property can become a cornerstone of your real estate portfolio. The combination of a low purchase price, high ARV, and a rapidly appreciating neighborhood make this an investor’s dream. **Act fast—properties like this are in high demand!** Schedule a viewing today and take the first step toward realizing your investment goals.
Home Assoc: No
Condo Assoc: No
Basement: Y
Pool: No Pool
Features
Utilities
Central Heating, Natural Gas, None, Electric, Hot Water - Natural Gas, Public Water, Public Sewer
Garage/Parking
On Street
Interior
Unfinished Basement
Exterior
Block Foundation, Masonry
Select a school from the following list. Schools are grouped by school type.
The schools on this list are selected by their proximity of up to 5 miles to the property address.
Proximity does not guarantee enrollment eligibility. Please contact the school directly for more information on enrollment requirements.
* If there are more than 5 schools of any type within a close proximity, click on the button to see additional schools of that type near the search address.
Public Elementary (131 schools)
Public Middle (26 schools)
Public High (58 schools)
Private (84 schools)
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This report is a detailed community overview for Philadelphia (19134), Pennsylvania.
Community Quick Facts
- Average travel time to work for people in this community: 33
- Average salary of people in this community: $35,487
Community Summary
- Population Density (ppl / mile): 16,293
- Household Size (ppl): 3.01
- Households w/ Children: 95%
Housing Inventory
- Owned: 10,809 (45.8%)
- Rented: 9,589 (40.6%)
- Vacant: 3,220 (13.6%)
- Total: 23,618
Population Demographics
The population of the community broken down by age group. The numbers at the top of each bar indicate the number of people in the age bracket below.
Climate and Weather
The Temperature chart displays average high and low values for January and July, and is designed to provide an indication of both seasonal and daily temperature variability. The Weather Risk Index indicates the calculated risk of each type of weather event occurring in the future. This risk is based on historical localized storm events and weather patterns. The national average for each type of weather event equals a score of 100, so a score of 200 would represent twice the risk as the national average, and a score of 50 would represent half the risk of the national average.
Temperature
Education
Highest Level of Education Attained
- Less than 9th Grade: 11.6%
- Some High School: 20.0%
- High School Graduate: 40.4%
- Some College: 12.6%
- Associate Degree: 5.1%
- Bachelor's Degree: 7.4%
- Graduate Degree: 2.8%
Income by dollar range
Median Income: $31,533
Fair Market Rents
The Fair Market Rents show average gross rent estimates based on figures provided by the U.S. Department of Housing and Urban Development (HUD).
- Studio: $619
- One Bedroom: $711
- Two Bedroom: $920
- Three Bedroom: $958
- Four Bedroom: $1,140
© 2024 LiveBy. All Rights Reserved.
Contact Information
Schedule an Appointment to See this Home
Contact our Customer Service Center
or call us at 302-234-5270
Listing Courtesy of: The Greene Realty Group , (860) 560-1006, office@thegreenerealtygroup.com
The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Patterson-Schwartz Real Estate participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information Deemed Reliable But Not Guaranteed.
Copyright BRIGHT, All Rights Reserved
Listing data as of 9/28/2024.
Broker Compensation
An offer of broker compensation or seller concession is not a guarantee. All compensation offers and concessions are negotiable and subject to written agreement between the parties. Please consult with your real estate agent for more information.
