While East Lansdowne might be tiny, covering only 0.2 square miles, its real estate market offers great investment potential, writes Alan Heavens for the Philadelphia Inquirer.
The densely populated area offers plenty of single-family detached homes and twins, but very few row houses, according to Barbara Mastronardo, associate broker at Weichert Realtors in Media.
When it comes to real estate markets, one of the downsides for the area is the lack of a rail system, making it a tricky commute to Philadelphia.
“This is a prime area for gentrification and investors,” said Mastronardo.
On the plus side, the houses in this small area are very affordable.
“If you make $40,000 to $50,000 a year, the prices of the eight houses sold in the last six months, ranging from $37,000 to $165,000, are doable,” she said, adding that there are eight houses listed in the area, ranging from $49,000 to $189,000.
Read more about the East Lansdowne real estate market in the Philadelphia Inquirer by clicking here.