Description

Hey Investors,

Great flip opportunity in Elmwood (Philadelphia 19142)! This 3BR/1BA 1008 sqft townhouse at 2239 Bonaffon St sits in a block where renovated row homes are consistently closing in the $185,000–$237,000 range, while distressed shells are trading in the $58,000–$97,000 range — a textbook spread for a value-add flip play. The neighborhood is showing real momentum with multiple recent retail sales and investor activity, making this a compelling buy-low, renovate, sell-high opportunity.

Strategy: Flip | Specs: 3 BR / 1 BA | 1008.0000 SQFT | Year Built: 1920 | Zoning: N/A

The Money & ARV:
* Target Rent: $1,450 – $1,650/mo
* Est. Rehab: $55,200 (Full interior renovation: kitchen, bath, flooring, paint, mechanical updates, roof inspection, windows)
* Realistic ARV: $185,000 (Anchored by 1758 S Avondale St — 3BR/1BA, 1104 sqft, sold 04/30/26)
* Aggressive ARV: $210,000 (Top-tier renovation potential, supported by 6520 Wheeler St — 3BR/3BA, 960 sqft, sold 05/05/26 at $237,000)
* The Spread: With distressed comps in the $58K–$97K range and a renovated ARV of $185K–$210K, a well-executed flip can yield $60,000–$90,000+ in gross profit before carrying costs.

Why this deal?
Elmwood is an active investor market with a clear two-tier pricing structure — distressed properties trading in the $58K–$100K range and fully renovated row homes commanding $185K–$237K — meaning the renovation premium is real and well-supported by recent closed sales. The density of recent retail sales (multiple closings within the last 60 days within 0.25 miles) confirms buyer demand for move-in-ready product in this corridor. A full renovation targeting the $185K–$195K ARV range is highly achievable given the comp support, and the 1008 sqft floorplan keeps rehab costs manageable. Experienced flippers and first-timers alike will find the numbers compelling here — lock it up and get to work.