What $1.75M Gets You in Philadelphia
Ever wonder how far your money will go real-estate wise in our closest major urban neighbor, Philadelphia? Check out this gorgeous, meticulously restored townhome, tucked away in the heart of Philadelphia, on one of the city’s most pristine and rarely available streets, Delancey Place.
From the checkerboard marble entry to the rich hardwood floors and restored millwork, this home is the epitome of restrained elegance, regardless of what city one calls home. This townhouse features 3,000 square feet of livable space; four fireplaces, plantation shutters, ceiling fans, recessed lighting throughout, custom built-ins in every room; and much more.
The living and dining rooms are divided by a graceful archway and provide impressive entertaining spaces. A gourmet kitchen offers stone counters, double ovens, sub zero refrigerator, and dual dishwasher drawers. An intimate walled garden wraps to the side of the house creating a private rear entrance (ideal for bikes, recycling and grocery deliveries). The 2nd level features a paneled library or den with walls of custom bookshelves and a tiled, gas fireplace. Gracious master suite features a sitting area fronting the arts & crafts fireplace, flanked by custom display shelving and offers original red pine flooring & high ceilings. Walk-in closet w/ extensive organization and laundry adjoins the sumptuous bath. Separate jetted tub, enclosed marble shower and double vanity with stone vessel sinks complete the spa experience. Top floor has an open den w/ built-in bookcases, refrigerator and original pine floors – could be an additional bedroom if enclosed. French doors lead to the 3rd floor roof deck with lush container garden and tree top views – your private, green retreat. Front bedroom has built-in Murphy bed, bookcase and is currently used as a music room. Subway tiled hall bath with pedestal sink, tub/shower combination and hexagon accents complete this level. Basement has great ceiling height providing outstanding additional storage and houses the home’s mechanical systems. Sellers are offering 1 year pre-paid Parking at Acorn Garage with acceptable price. Certainly worth the two hour drive from DC!
Cribline Math Analysis:
With 20 percent down on $4,900,000 of $980,000, the mortgage amount would be $3,920,000. At an estimated 4 percent interest rate fixed for 30 years the gross payment would be about $23,200 per month. If you were to rent out a boat slip for $1,000 per month, that would reduce the gross payment to $22,200 per month. After tax deductions, the net payment would be about $16,230 per month.
Happy House Hunting in Philadelphia!