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Old Posted Jun 8, 2018, 4:47 AM
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hammersklavier hammersklavier is offline
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Quote:
Originally Posted by Sloper View Post
Good to see Camden getting revitalized. I just looked at real estate prices in Camden on Zillow, holy crap - now might be the perfect time to buy, renovate and flip, so cheap! Do Philly folks see the urban neighborhoods over there booming anytime soon? Is the Philly market pricing people across the river? I haven't been there in a couple decades and, well, you know how bad it was back then.
Camden's bottomed out but it's still very much a long game. I'd expect to see returns take a 30-year timeframe to achieve in more desirable parts of town, and perhaps as long as 50 on the city periphery. As others have noted, there's still plenty of stock in Philly to work through.

The main advantage Camden could have, though -- although I don't see this starting to move renovations until the area around the MFL is mostly revitalized at the very least -- is PATCO accessibility: there are lots of places in Philly, like Oxford Circle, Fairhill, or Allegheny, that take longer to get to from Center City than the Ferry Ave. PATCO stop. It's also got that riverfront, although the bulk of it remains active port facilities.
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