Cambridge Row: Same Neighborhood, Same Street, Which Is the Better Deal?
The 2800 block of Cambridge Street, on the edge of Brewerytown, is quiet and narrow, lined by a combination of homes with high stone stoops and houses with wooden porches that could have been airlifted from Mt. Airy. Like the rest of that neighborhood on the rise, Cambridge is a street of contradictions, but a pretty one in a convenient location. Just a block away on Girard Avenue, new businesses like Mugshots, Rybrew and Brewerytown Beats have popped up, increasingly gentrifying the area. Perhaps the biggest indication of change in the neighborhood? The soon-to-open Shifty’s Tacos, an eatery from the crew at Honey’s Sit ’n Eat.
MM Partners is responsible for much of the development in the area, including what it’s dubbed “Cambridge Row” on the 2800 block. Addresses that will benefit from their attention, according to Philadelphia Real Estate Blog, are 2804, 2806 and 2818 Cambridge. It seems 2800 is also getting some work done by its owners.
Not surprisingly, the value of real estate on this block seems to be going up, with landlords reluctant to negotiate. Let’s look at two houses on the same block and see what you get.
Square feet: 728
Year Built: 1925
What the agent has to say about the house: “Fabulous completely renovated home with garage and deck on a great Art Museum Area block. From the front patio, step up into a first floor with restored original hardwood floors and built-in shelves; new eat-in kitchen (2010) with glass tile backsplash, under-cabinet lighting and ample counter space, high ceiling with recessed lighting; back door leading to separate garage with private Harper St. access, currently used as a workshop, featuring utility sink, electric service and great storage potential. Second floor master suite has new carpet, front bedroom with built-in shelves; dressing room with double closet and additional laundry closet with full-size washer and dryer; full bath w/ tub; large rear second floor deck over garage with Trex decking. Clean basement with mechanicals has great ceiling height and can be easily finished. This one-bedroom home is a fantastic starter home, and could be converted back into a two-bedroom. Shows beautifully, move-in ready.”
Last sold for: $26,500 in 1996
Current asking price: $219,900
Square feet: 1,052
Year Built: 1924
What the agent has to say about the house: “This beautiful home offers refinished original hardwood floors, high ceilings, crown molding and custom closets. A tastefully updated kitchen boasts stainless steel appliances, dishwasher, garbage disposal and plenty of cabinet space. Spend your summer on the custom deck overlooking the spacious back yard with fire pit…This beautiful home has everything you need and is the least expensive, move-in ready place on the block!!! One year appliance warranty included….”
Last sold for: $230,000 in 2008
Current asking price: $269,900
So which is the better deal?