Last updated on June 21st, 2023
airbnb property for sale Philadelphia City Center
Philly, best known for cheesesteaks? You’ll be surprised to know that Philadelphia City offers more than just its popular food! With plenty of iconic landmarks and art galleries that are considered as favorites by both locals and travelers, this beautiful city is also a haven for property investors.
To begin with, the major costs and potential revenue are one of the few factors that should be considered before deciding to purchase a property. Another excellent option is to do rental arbitrage in Philadelphia, since it’s fairly popular and does not require you to purchase a property as a start.
If you are looking to invest in a property where you can maximize profitability in Philadelphia, then now is the right time to do so! Based on Roofstock’s report on Philadelphia’s housing market, home values have increased by 6.5% over the year!
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“In April 2022, the housing demand in the Philadelphia metro area remained strong. Home prices continue to rise fast in the Philadelphiaregion, with particularly high price growth among single-family detached homes across the region.”
– Norada Real Estate on Philadelphia’s Housing Market
Airbnb occupancy rates by city declare that an average host in Philadelphia can earn up to $31,392 during the peak seasons of July – September. With over 4,476 Airbnb listings in Philadelphia, it’s certainly a catch for property investors!
Here’s an interesting fact: One of the Airbnb hosts featured in our podcast, Into The Airbnb, as he shares his hosting experience in Philly. Listen for more Airbnb hosting tips in Philadelphia:
Aside from looking at a property’s fascinating architectural design, proximity to major tourist areas, and accessibility to the best go-to places, the primary step is to determine profitability. In this article, we’ll discuss the metrics in order to gauge the best property investment.
This includes the best website recommendations for property investment, defining property gross rental yield, cash-on-cash return, and annual revenue, along with some of the most ideal and profitable properties according to their location. Stoked to learn more? Continue reading!
Is Property Investment Profitable in Philadelphia City Center?
If you’re wondering, “how much can I make on Airbnb”? Here’s the answer! It was discovered that a 2-bedroom apartment in Philadelphia City Centre can generate an annual revenue of $45,701 with a steady occupancy rate of 58% and a nightly rate of $195.
airbnb property for sale Philadelphia City Center
Homes for Sale in Philadelphia City Center
Finding the best properties that have the potential to produce high yields and capital growth are certainly some of the preferences of major investors. It’s always best to ask for assistance from real estate agents to access exclusive and unique properties during the development stage.
At the same time, it’s even better when a property investor like you conducts research about predicted growths and market forecasts. Here are some of the profitable properties in Philadelphia City Centre along with the calculated gross rental yield, cash-on-cash return, and annual revenue:
1324 Locust St Apt 630, Philadelphia, PA 19107
1. Studio-type Property for Sale in Philadelphia
Near 12\13th & Locust Street Station
Asking Price: $77,000
| GROSS RENTAL YIELD | 23.86% |
| ANNUAL REVENUE | $18,371 |
| CASH ON CASH RETURN | 45.81% |
4704 N Carlisle St, Philadelphia, PA 19141
2. 1-Bedroom Property for Sale in Philadelphia
Near W Wyoming Ave
Asking Price: $69,990
| GROSS RENTAL YIELD | 25.99% |
| ANNUAL REVENUE | $18,187 |
| CASH ON CASH RETURN | 52.19% |
3407 Arbor St, Philadelphia, PA 19134
3. 2-Bedroom Property for Sale in Philadelphia
Near E Ontario St
Asking Price: $85,000
| GROSS RENTAL YIELD | 25.95% |
| ANNUAL REVENUE | $22,060 |
| CASH ON CASH RETURN | 52.09% |
2540 N 22nd St, Philadelphia, PA 19132
4. 3-Bedroom Property for Sale in Philadelphia
Near N 22nd St
Asking Price: $99,900
| GROSS RENTAL YIELD | 27.32% |
| ANNUAL REVENUE | $27,293 |
| CASH ON CASH RETURN | 56.19% |
1969 Georgian Rd, Philadelphia, PA 19138
5. 4-Bedroom Property for Sale in Philadelphia
Near Ogontz Ave
Asking Price: $160,000
| GROSS RENTAL YIELD | 26.48% |
| ANNUAL REVENUE | $42,360 |
| CASH ON CASH RETURN | 53.66% |
Conclusion
Since Airbnb is rapidly increasing and constantly changing for each city in the world, it is crucial to make decisions based on wild guesses. The data points mentioned in this article for Philadelphia such as Airbnb occupancy rates, annual revenue, and average daily rate should be the primary basis before investing in a property.
Hence, if the data presented above has given you ideas to boost your strategic pricing plan for your business, then an Airbnb rental arbitrage calculator is certainly what you need for success in the long run. It’s a fact that some of the STR investors are also considering Airbnb Rental Arbitrage, but they still need to have a reliable data tool on which to base their conclusions!
As we live in a digital era, an accurate data analytics tool can help your business stand out among your surrounding competitors and benchmark your property by tracking the occupancy rates of competing listings in your preferred city.
