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Sold for $72,500
  • $72,500

    1944 E Somerset St, Philadelphia, PA 19134

    3beds
    1,018sqft
    Townhouse
    Built in 1925
    798 Square Feet Lot
    $164,200 Zestimate®
    $71/sqft
    $1,662 Estimated rent

    Home value

    $164,200

    $143,000 - $186,000

    $1,662/mo

    Zestimate® history
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    What's special

    ### 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.

    Zillow last checked:

    Listing updated:

    Listed by:

    Derek Greene 860-560-1006,

    The Greene Realty Group

    Bought with:

    NON MEMBER, 0225194075

    Non Subscribing Office

    Source: Bright MLS,MLS#: PAPH2401608MLS Logo

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 3
    • Bathrooms: 1
    • Full bathrooms: 1
    Basement
    • Area: 0
    Heating
    • Central, Natural Gas
    Cooling
    • None, Electric
    Appliances
    • Included: Gas Water Heater
    Features
    • Basement: Unfinished
    • Has fireplace: No
    Interior area
    • Total structure area: 1,018
    • Total interior livable area: 1,018 sqft
    • Finished area above ground: 1,018
    • Finished area below ground: 0

    Property

    Parking
    • Parking features: On Street
    • Has uncovered spaces: Yes
    Accessibility
    • Accessibility features: None
    Features
    • Levels: Three
    • Stories: 3
    • Pool features: None
    Lot
    • Size: 798 Square Feet
    • Dimensions: 14.00 x 57.00
    Details
    • Additional structures: Above Grade, Below Grade
    • Parcel number: 252017800
    • Zoning: RSA5
    • Special conditions: Standard

    Construction

    Type & style
    • Home type: Townhouse
    • Architectural style: Other
    • Property subtype: Townhouse
    Materials
    • Masonry
    • Foundation: Block
    Condition
    • New construction: No
    • Year built: 1925

    Utilities & green energy

    • Sewer: Public Sewer
    • Water: Public

    Community & HOA

    Community
    • Subdivision: Port Richmond
    HOA
    • Has HOA: No
    Location
    • Region: Philadelphia
    • Municipality: PHILADELPHIA

    Financial & listing details

    • Price per square foot: $71/sqft
    • Tax assessed value: $62,900
    • Annual tax amount: $880
    • Date on market: 9/26/2024
    • Listing agreement: Exclusive Agency
    • Listing terms: Cash,Private Financing Available,Other
    • Ownership: Fee Simple

    Price history

    DateEventPrice
    10/8/2024Sold$72,500-9.3%$71/sqft
    Source: Bright MLS #PAPH2401608 Report a problem
    10/7/2024Pending sale$79,900$78/sqft
    Source: Bright MLS #PAPH2401608 Report a problem
    9/27/2024Listed for sale$79,900+183.8%$78/sqft
    Source: Bright MLS #PAPH2401608 Report a problem
    11/8/2017Listing removed$28,153-37.4%$28/sqft
    Source: Auction.com Report a problem
    8/15/2017Listed for sale--
    Source: Auction.com Report a problem
    7/19/2005Sold$45,000+150%$44/sqft
    Source: Public Record Report a problem
    1/6/2004Sold$18,000+5.9%$18/sqft
    Source: Public Record Report a problem
    2/5/2003Sold$17,000-14.6%$17/sqft
    Source: Public Record Report a problem
    8/12/1998Sold$19,900$20/sqft
    Source: Public Record Report a problem

    Public tax history

    YearProperty taxesTax assessment
    2025$994 +12.9%$71,000 +12.9%
    2024$880 $62,900
    2023$880 +130.4%$62,900
    2022$382 --
    2021$382 +7.5%--
    2018$356 --
    2017$356 +5%--
    2016$339 --
    2015$339 --
    2014$339 +4.5%$24,200 +221.8%
    2012$324 $7,520
    2011-- $7,520
    2010-- $7,520
    2009-- $7,520
    2008-- $7,520
    2007-- $7,520
    2006-- $7,520
    2005-- $7,520
    2004-- $7,520
    2003-- $7,520 +39.9%
    2002-- $5,376 +3.7%
    2000-- $5,184
    1999-- $5,184
    Find assessor info on the county website

    Neighborhood: Richmond

    Nearby schools

    GreatSchools rating
    Schools provided by the listing agent
    • District: The School District Of Philadelphia

    Source: Bright MLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

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    Estimated market value
    $164,200
    Get a cash offer in 3 minutes
    Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
    Estimated market value
    $164,200