Description

We just identified a high-leverage “Total Rehab” project in Cobbs Creek (19143)! 5738 Delancey St hit the market yesterday and is the definition of an “Investor Special.” This 2-story brick row is a complete blank canvas, requiring a full gut but offering a massive equity spread. With a renovated comp on Addison St just closing for $239,000, the ceiling for this pocket is officially proven.

We have 5738 Delancey St—a 948 sqft rowhome built in 1925. Currently configured as a 2-bedroom, 1-bathroom, the “total rehab” status allows you to optimize the layout (potentially adding a 3rd bedroom or 1.5 baths) to maximize appraisal value.

Specs: 2 BR / 1 BA (Configurable to 3/1) | 948 SQFT | Year Built: 1925 | Zoning: RSA5 | Status: Active (New Listing – 24 hrs).

💰 The Money:

Target Rent: $1,550 – $1,750/mo (Post-Renovation)

Est. Rehab: $60,000 – $80,000 (Full Gut: HVAC, Electric, Plumbing, Roof, Finishes)

Est. Refi Payment: ~$700/mo (High Cash Flow Potential!)

📊 ARV SUMMARY & MATH (SOLD ONLY – LAST 6 MONTHS)

ARV (Conservative): $185,000

ARV (Realistic/Selected): $215,000 (Based on neighborhood velocity and model size)

ARV (Aggressive): $239,000 (Justified by 5339 Addison St sale)

Market Context: The property was picked up for $31,800 in Nov 2025 and is now being repositioned. You are buying the shell at ~$100/sqft, while the top-of-market renovated product is moving at $250/sqft.

🚀 Why this deal?

The “Addison” Ceiling: Having a $239,000 sold comp (5339 Addison) within 0.4 miles provides the ultimate confidence for a high-end retail flip exit.
Fresh Inventory: This just hit the market. While the seller is asking $95k, the “Total Rehab” and “AS-IS” requirement provides a window for a fast cash offer to beat out financed buyers.
Transit Goldmine: Located in the 19143 zip, you are minutes from the Market-Frankford Line, offering tenants a 15-minute commute to Center City.