Home Buying in 19103>Question Details

Joe, Home Buyer in Philadelphia, PA

I am contemplating a condo purchase in the Fitler Square area, along the river. It cost 300k for 700 square

Asked by Joe, Philadelphia, PA Tue Dec 11, 2007

I am contemplating buying a 700 sq ft newly converted condo in Fitler Sq along the river (one bedroom one bath) for 300k. Is this a reasonable price? How much do they rent for approx? How safe is the area?

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__________________’s answer
Fitler Square is an awesome neighborhood of the city and totally safe. There are a lot of classic trinities and federal style rows in the neighborhood as well as newer condos. The location is superb...walking distance to 30th Street station for Amtrak and all Septa rail lines. The neighborhood is very friendly and there are a lot of families there. Also ideal, is its direct access to the Schuylkill River Trail at 20th and Locust and its own park and dog park. THere are lots of neighborhood restaurants, shops, etc. In my opinion, 300k is an excellent price. 23 "A Condominium" which just went up in a less ideal location than you described is sold out or nearly sold out and priced from 400k to 2.4 million.
0 votes Thank Flag Link Tue Dec 11, 2007
Hey Joe,
The number one question here is what is your over-all goal with this property. Are you buying it for yourself to live in, are you buying to rent out, ect....i've lived in Philadephia center city area for many years and i work as a lending specialist for a local bank. I'd love to be able to go over a number of different options that you shoud definately take a look at. You can contact me at akanevsky@midacap.com or directly at 267-474-8050.
thank you,
Alina Kanevsky
0 votes Thank Flag Link Tue Jun 24, 2008
Joe,
Fred is right, we would need and address or building. You would also need to consult your real estate professional regarding what the rents would be if you are buying it for investment. You can go to Philly.gov to check crime statistics.
Lastly, check out what else is in the area. Have you only seen this unit? Have you compared it to other units in the Fitler Square and surrounding areas. Before you purchase I would take some time to tour the area yourself. Walk around, stop at a coffee shop. Not just once, but a few times, morning, noon and night. This will give you a better bearing of what goes on at all hours. Whether you are going to occupy the unit or not you will want to be secure with your decision
0 votes Thank Flag Link Wed Jun 18, 2008
Depends on the exact location. Contact me and I will be happy to help you. 877-282-5789
Web Reference: http://www.fredglick.com
0 votes Thank Flag Link Wed Mar 26, 2008
That is extremely expensive per square foot but it's a great area. The Locust Point condos are extremely overpriced and small but pretty. I'm not sure of the resale value, especially given the limited market for the step up one bedroom lofts.
0 votes Thank Flag Link Mon Jan 28, 2008
Joe, Unfortynately I do not specialize in rentals and I don't want to misinform you. I would call the rental dept at Plumer (my company) 215-922-4200. They can give you the best answer.
Web Reference: http://www.plumerre.com
0 votes Thank Flag Link Sat Dec 15, 2007
Hi Joe:
I would ask you to present that very same important question to your Realtor, You really should be doing your home search with the assistance of a Realtor working for you as your Buyers Agent. There would be not cost to you for these services. The area you are speaking is a hight desireable area with easy assess to center city night life. A Realtor Buyers Agent can help you by providing with properties in that similiar area that are currently active and also recently sold to provide the best comparison as to the proper value of the home/cono you are interested in purchasing. We can also provide to you the resources to research community and shool information in answering your last question. Feel free to visit my real estate website since all these resources can be found there. Contact me if I can be of any futher assistance.
0 votes Thank Flag Link Fri Dec 14, 2007
I can purchase a parking spot in an enclosed garage for 35k. The condo fee is approx $275/mo which includes trash, water, sewer and the building. The unit has all new HW floors, ss appliances, granite countertops, new windows. It has been completely updated. It has 1 bath and is considered a "platform" bedroom. I have looked online and listing prices, but not sure about actual sale prices in the 19103 area? What do you anticipate for monthly rent? Thank you Mereille!
0 votes Thank Flag Link Fri Dec 14, 2007
Before that question can be answered....Does it have parking? What is the condo fee? And I am guessing it has only 1 bath. Several condos sold in the last six months in Fitler square for well below $300K. You would want to compare what you are contemplating buying with what others have paid for similar properties. Then you will know if it's reasonable. In terms of area, it is safe. In terms of rentability, it is an appealing area for anyone to rent, especially students and doctors the work and study in University City.
0 votes Thank Flag Link Thu Dec 13, 2007
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