Point Breeze a good choice?

Asked by Gjdeck, Philadelphia County, PA Thu Aug 13, 2009

Would anyone say that Point Breeze is a good area for a first time home buyer? Especially if I'm looking to invest for a nice return in the next 5-7 years? I know it can be a little rough around the edges but I do see a lot of homes being rehabbed/built. Thanks!

Help the community by answering this question:

+ web reference
Web reference:

Answers

2
Dave Lombardo, Agent, Philadelphia, PA
Fri Aug 14, 2009
I personally like the Point Breeze/Newbold area. I do own some homes there and I did buy them because I saw value in that area. I also live and work in that area. That being said, speculating that an neighborhood is going to apprieciate is not always the bast way to buy. When I bought there, yes I was hopeing the area would appriesieate but I also bought there because it made finacial sense for the time frame I was buying in as well.
In the last 3-5 years I to have seen alot of homes being rehabbed/built there and I am very excited to see if that trend contunues.
Like any city neighborhood it can be as you said "rough around the edges". Streets can change from one block to another. It is important that you learn the area you want to buy in and choose a REALTOR who knows it as well.
Good luck with your search and I hope you find a home you are happy with.
0 votes
Chris & Step…, Agent, Philadelphia, PA
Thu Aug 13, 2009
Yes, as long as you select a good block
- high ratio of occupied homes vs board ups
- blocks closer to Federal and Graduate Hospital
- blocks that are wider and do not dead end

Lots of areas are rough around the edges but will work for investors looking for the mid-term investment like you are. Another place to buy is 19122 Old Kensington. It is sandwiched between the Temple University Campus, Fishtown, and Northern Liberties.

The area around Temple Medical School in Nicetown Tioga/Hunting Park Area 19140 is also a good area for prospectors looking to build student and rental developments. It is a definite build, rent, and hold area.

The truth is.. no matter where you buy, as long as you get a good deal on the purchase, you are a winner when you sell. You never make the money on the sell side you make it when you purchase.
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more