This trinity on North 4th Street in Northern Liberties had its price recently reduced by $4,900 to $185,000, making it the least expensive home currently for sale in the neighborhood. | TREND image via RE/MAX Access
The wave of redevelopment and gentrification has pretty much run its course in Northern Liberties, even though there are still new construction and renovation projects moving through the city’s development pipeline.
Because of this, we thought we’d ask: Are there any affordable homes left in the neighborhood?
It turns out there are. Real estate research and analytics firm NeighborhoodX ran the numbers for us and found the 10 least expensive homes currently on the market in NoLibs. They’re listed on the interactive chart below. Mouse over the bars to see details about each of the homes.
The good news: None of them list for more than $300,000. They range in size from the 694-square-foot trinity condo pictured above, the least expensive property currently on the market, to a 1,164-square-foot, three-bedroom, one-bath home on Dunton Street that is the second least expensive home on the market.
“In order to compare these properties to each other, we also looked at the price per square foot,” said Constantine Valhouli, director of research for NeighborhoodX. The asking prices ranged from $154 per square foot for the Dunton Street home to $336 per square foot for a 775-square-foot, one-bedroom condo in Waterfront Square (901 N. Penn St. #R2205, the third-highest-priced of the 10 homes).
What this means is that there are still ownership opportunities in Northern Liberties priced within reach of first-time home buyers and younger professionals. There is one consideration to take into account for some of these units, however, and that’s the monthly condo fee on top of your mortgage. That won’t necessarily be a deal-breaker, though: Zillow estimates that the mortgage on the least expensive condo below will run $700 a month. Add the $168 monthly condo fee and you’re still paying less than you would to rent a one-bedroom apartment in the same neighborhood.
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Updated Aug. 8, 10:24 a.m., to correct information about the mix of units in the infographic above.