762 E Madison St
Comps
Listing Notes
Discover an excellent investment opportunity in one of Philadelphia's fastest-growing neighborhoods. This 3-bedroom, 1-bath home is currently rented for $1,200 per month. Located in the evolving Kensington area - this property sits in a neighbourhood poised for continued revitalisation and growth, often compared to the early days of Fishtown's transformation. While the home is not presently enrolled with the Philadelphia Housing Authority, it qualifies for Section 8 rental rates up to approximately $1,788 per month based on the 19134 ZIP code's current payment schedule, reflecting a 30% increase from last year's rates.
Analysis
Asking price is about 22.2% above where comps + adjustments land — there is room to negotiate.