1708 N Bouvier St, Philadelphia, PA 19121

Property Description

Inquire about the 3D tour! Turnkey 2018 duplex at $420,000, leased through July 31, 2027, at $50,100/yr. This prices to a 9.31% CAP (including insurance, 5% vacancy, 3% maintenance, trash, snow, license, water) and 8.38 GRM with 2 years of tax abatement remaining. Even after Philly's reassessment-on-sale, the CAP still holds at 8.31%. At 25% down and 6.75%, the deal returns $14,590/yr in cash flow, 13.9% cash-on-cash, and 1.60 DSCR. Note that pictures have been virtually staged/decluttered. Some bedrooms are currently under-occupied through August 2026, though the owner is willing to compensate the rents to the 2026-2027 term if closed before August. Located on the 1700 block of Bouvier, one of the most popular student blocks in the Temple corridor (7-minute walk to campus and SEPTA, clean street, surrounded by other student housing). Temple has had a rough enrollment stretch, which is partly why these asset prices are attractive today. New president John Fry, who reshaped Drexel's footprint during his tenure there, is now driving Temple's campus redevelopment and recruitment efforts, making enrollment more likely to trend upward than downward. Two 4BR/2BA units, central HVAC, in-unit washer and dryer, and modern finishes. Unit A has backyard access; Unit B is larger. At $52,500 per bed and a 22% expense ratio, this outperforms the comp set and is one of the few 2018+ builds in the area trading above a 9 CAP. Full underwriting available on request.