SoPhilly Spotlight: Renovated Starter edition

Often during our searches for SoPhilly Spotlights, we get lost in dreaming about having more than we can afford. So, this week, we set out to find one for the people.

1723 S. Mole St

Located in Newbold at 1723 S Mole St., this week’s selection comes in at a modest $179,900. At about 800 square feet, this 2-bed, 1-bath home is on the small side but it has a partially finished basement and a wee patio. Plus, it’s spitting distance to the South Philly Tap Room, so that’s a perk.

1723 S. Mole St1

From the Craigslist listing:

This 2 bedroom, 1 bath contemporary home features modern open design layout w/gourmet kitchen, granite countertops, 42″ self closing cherry wood cabinetry, SS appliances including range, microwave, frig & D/W. Ultra modern bath w/ oversized designer tiles. Spacious bedrooms with great closets, ceiling fan in main and diamond patterned Berber carpets.

1723 S. Mole St2

1723 S. Mole St5
This bedroom is a standard, respectable size, but there’s no picture of the second one, so we’d be stunned if it was actually “spacious.”

1723 S. Mole St6
Looks like a hotel, no?

Basement is semi finished with carpet & washer /dryer hookup. Finishes include hardwood flooring on main level, all new windows, high efficiency heating & cooling, new 100 AMP electrical service & wiring throughout w/recessed lighting, new pex plumbing, roof warranty, hard wired smoke and carbon detectors.

Kinda finished
Kinda finished
Told you it was "wee."
Told you it was “wee.”

And possibly the best perks:

Only steps to popular coffee shops, cafés and gastropubs, 2 blocks to Passyunk Ave, 1 block from the re-Newbold project (18 new homes/condos), easy to public transportation and just minutes to Center City

What do you think about $179,900 for this location?

8 thoughts on “SoPhilly Spotlight: Renovated Starter edition

  • January 24, 2014 at 1:46 pm

    I can confirm at least a handful of New Yorkers are drooling.

  • January 25, 2014 at 12:19 pm

    “The people”

    Still have to make 70k/yr to afford this house. Remind me again what the average Household income is for this city? (~38k

    Right, so who are these common people?

  • January 26, 2014 at 8:38 am

    Where do you get 70k a year? The standard home debt to income ratio is 28% which for this house is $37,928 a year assuming a 20% down payment.

    • January 27, 2014 at 1:47 pm

      how many people making 37/yr have 20% down payment set up? I am coming at this from the advice that your house shouldn’t cost more than 2.5 times your annual salary.

  • January 29, 2014 at 2:06 pm

    A couple where each person makes $35k/year would meet that $70k threshold. For a finished home just about anywhere in the city, $180k is a pretty good deal.

  • January 29, 2014 at 3:23 pm

    If I needed a house with only 2 bedrooms, I’d be on this house like stank on poop.

  • February 3, 2014 at 4:03 pm

    Ah Philly. I lived it 10 years. I loved it. It bled me dry. I had to leave (and I still miss it today). *sigh*

    How do people make money in that city (other than brian roberts of commycast).

    I would dream of buying something like this, but the employment market in philly is such that you would completely fail on your mortgage after a few years as all the employment in Philly seems disposable and the pay rates are slave like.

    Problem here is, the cost of things/living in philly goes up and up and the wages do not move. Gentrification is nice, but when nobody can afford it, let’s see what happens.

    But really, this is the nicest affordable thing I’ve seen in this area. Man, I’d kill to snatch this up.

    • February 3, 2014 at 4:40 pm

      All the employment? That’s a pretty drastic assessment. Sure the job base within the city isn’t as strong as it could be…..

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