Well, finally something that’s been touted here at this blog site for several years is proving to be true, although it comes to no surprise for those of us seeking, wholesaling and purchasing cash flow real estate investments in Philadelphia and the region.
Based on a Zillow “Home Value Index”, a slideshow released last week on CNBC’s website has two Philly zip codes coming in at second and third place in the U.S.
Philadelphia homes in the South Philly zip code of 19145 (# 2) has seen a “year-over-year price growth of 19.1%“, while the zip code of 19148 (#3) has seen a “year-over-year price growth of 16.9%”.
At sellphillyproperty.com , we have wholesaled and purchased ourselves cheap investment houses in these zip code areas over the years. They have become great cash flow investments for our real estate property investor client base. There is also a spill over effect from these zip codes too. With Philadelphia Zillow’s one year home value going down only .1%, there have been pockets of Philadelphia investment homes being purchased at great values resulting in cash flow and equity.
These are the zip code areas neighboring 19145 and 19148. The various neighborhood growth developments being acted out in the Philadelphia Northern Liberties, University City (19104 # 14 with 13.5% growth), West Philadelphia, South Philadelphia, Temple Univ. - North Philly, Nicetown/Logan (Temple’s newly opened medical school) and parts of northeast Philly, are undeniable.
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Great points. There is certainly ample investment opportunity in many parts of Philadelphia. Old Kensington, just north of Northern Liberties, and Fishtown have been other areas of interest for investors. Those investing for the longer term will certainly be rewarded.
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