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$329,000

Beds
3
Baths
3.0
sq ft
1,558

402 W Berks St Unit 1, Philadelphia, PA 19122

402 W Berks St Unit 1

PHILADELPHIA, PA 19122

  • 82 days on market
    • Price drop $10,997↓
Welcome to 402 W Berks St, a stunning first-floor condo located in the heart of Philadelphia’s vibrant neighborhood. This RECENTLY BUILT Bi-Level condo features a spacious 3-bedrooms and 3-bathrooms and offers the perfect blend of modern luxury and urban convenience. INVESTOR ALERT. As a NEW investor, you can rent out the rooms or even the entire 2 level condo as you expand your investment portfolio. Coupled with the Tax abatement this condo has until 2031, you could be CASHFLOWING IMMEDIATELY. Market rent for a room is approximately $850 - $950 while market rent for the entire condo is around $2350. Give us a call if you would like more details on investing options for this property. For homeowners, the chef's kitchen is a culinary dream, boasting high-end stainless steel appliances, sleek countertops, and ample cabinet space—perfect for entertaining or everyday cooking. This condo also has a tax abatement which means the new home owner will have to pay little or no property taxes until 2031. Step outside to your private patio backyard, an urban oasis ideal for relaxing or hosting guests. Surrounded by new construction, this area thrives with growth, making it a prime investment opportunity. Enjoy the convenience of living near various trendy restaurants, cafes, and boutique stores just a short walk away. Don't miss your chance to own a piece of this rapidly developing community! Please note the home has been virtually staged.

Details

Property type

Condominium

Est. home value

$368,598

Lot size

Unknown

Price per sq ft

$212

Year built

2019

Annual property taxes

$654

HOA

No

Price History

12/04/2024
Bright

Bright #PAPH2404164

Price change
$329,000
-3.23%
11/16/2024
Bright

Bright #PAPH2404164

Price change
$339,998
11/01/2024
Bright

Bright #PAPH2404164

Price change
$339,999
-2.02%

Schools & Community

Neighborhood: 

West Kensington

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Sidewalks, Street Lights

School district: 

THE SCHOOL DISTRICT OF PHILADELPHIA

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$18,444
Asking price
$329,000
Closing costs (~8% of asking)
-$26,320
Est. remaining loan balance
-$284,236
Cash to seller
$18,444

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Guaranteed Rate Inc

Loan start date

February 2021

Original loan amount

$311,600

Est. remaining balance

$284,236

Interest rate

2.67%

Loan type

New Conventional, 30 year

Seller

Justin Huang

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 12/21/2024 at 11:55 PM

Listing updated: 12/18/2024 at 12:45 PM

Listed by: Deborah A. Spence, Fierce Realty Corp. Phone #: (267) 689-8235

MLS: Bright #PAPH2404164

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