you can still find some good deals in Kensington. Even though I've seen prices increase over the last two years, there are still some finds, even though they are not as frequent as they once were. Walk the block. If you are comfortable, a perspective tenant would be. If you are not comfortable, a tenant probably would not be either. I have seen some folks get in trouble because a property manager has predicted some extraordinary rent. Before buying an investment property, verify the rent numbers. Not only must the house be able to justify the rent, so to must the neighborhood and the tenants.
Whenever, I am looking to invest in a property, I take in consideration of the location (Blocks around the Property), the Building Condition, and my gut feeling for the potential. It would be best for you to start taking a drive or walk around the neighborhood and see how you feel. Fishtown has been updating a lot in recent years. For more information you can view my website or contact me directly.
I would only buy in Kensington where it most closely borders Fishtown. I believe this will be your best opportunity to benefit from the renaissance, for lack of a better word, that Fishtown is going through.
For that matter, why not buy in Fishtown? While some areas are overpriced, it is still possible to find a good deal in this buyers market. For demographics & crime stats on the areas, visit my site scott2sell.com & click on the neighborhood statistics link at the top of th page.