810 Reed St · Allentown, PA 18109

$184,900

3 bd · 1.0 ba · 990 sqft · SingleFamily public records · 45 Days on market

Built 1910 3,200 sqft lot $187/sqft · 19% below area Est $230k · 20% under

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +19.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.2/10.0
• 1% rule +5.0/10.0
• Rent growth +4.1/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well maintained single-Family, Twin house located on the east side of Allentown, just minutes away from Bethlehem. Conveniently situated close to major highways, shopping centers, and local amenities. This home features a large backyard with utility shed. Rear parking spaces with carport. Enjoy relaxing on the covered front porch. The main level offers a large family room, providing plenty of space for gathering and everyday living. The fenced backyard includes side access, adding both privacy and functionality. Property is being sold as-is, providing an opportunity for buyers who are looking to add their personal touch. Access to carport parking in the back of the property is from the alley.

Key facts

• Covered front porch
• Large family room
• Utility shed

Tags

• LARGE BACKYARD
• UTILITY SHED
• REAR PARKING SPACES
• CARPORT
• COVERED FRONT PORCH
• LARGE FAMILY ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $211 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (0.0% below list).
• Recommended offer: $179k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 5.3% in Allentown — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 81/100 on livability (#171 in PA, #1,440 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, employment D.
• Allentown City SD (urban): math 10% / reading 20% proficiency, ranked #513 of 539 in PA (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.6%/yr); 58 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 765 units permitted in Lehigh County in 2024 (286 in 5+ unit buildings).
• This rent runs 38% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Lehigh County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.6% rent growth), your $52k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 24y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $185k implies a 236% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $179,353 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.00% ✗
• Cap rate: 7.66%
• Cash-on-cash: 4.89%
• DSCR: 1.22
• GRM: 8.3

CMA / ARV

• ARV (median comp): $229,752
• List price: $184,900
• Delta: -19.52%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1813 E Cedar St	0.11mi	3/2.0	972 (-2%)	17mo	$280,000	$288	74
847 Oswego St	0.26mi	3/1.0	1,040 (+5%)	14mo	$285,000	$274	68
1909 E Keats St	0.26mi	3/1.5	1,066 (+8%)	7mo	$300,000	$281	67
1103 N Van Buren St	0.50mi	3/1.0	1,048 (+6%)	11mo	$230,300	$220	58
453 N Oswego St	0.36mi	3/1.5	1,064 (+8%)	14mo	$299,000	$281	57
1158 E Congress St	0.62mi	3/1.0	950 (-4%)	11mo	$235,000	$247	55
1903 E Jonathan St	0.69mi	3/1.0	1,001 (+1%)	19mo	$300,000	$300	50
1511 E Highland St	0.47mi	3/1.0	1,120 (+13%)	10mo	$285,000	$254	48
1924 E Congress St	0.44mi	3/1.0	864 (-13%)	18mo	$230,000	$266	43
1519 E Highland St	0.46mi	3/1.5	1,120 (+13%)	18mo	$245,000	$219	39
813 N Kiowa St	0.49mi	4/1.0 (+1)	1,125 (+14%)	15mo	$270,000	$240	37
1019 E Hamilton St	0.72mi	2/2.0 (-1)	1,080 (+9%)	19mo	$270,000	$250	26

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 6.57% rent growth · sell at horizon

5-year hold

• IRR: -4.8%
• Equity multiple: 0.81×
• Total profit: $-9,645
• Equity at exit: $27,569

10-year hold

• IRR: 8.6%
• Equity multiple: 1.76×
• Total profit: $39,314
• Equity at exit: $15,987

Cash invested: $51,772 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Pennsylvania: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

10-day notice; Philadelphia has eviction-court diversion + some protections; otherwise moderate.

Methodology + full state rankings →

ZIP-level market 18109

• Home prices YoY: -21.9%
• Rents YoY: 6.6%
• Active inventory: 58
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,849 high
• Mortgage (P&I): −$970
• Tax from tax record: −$203 /mo · $2,435/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $211

Break-even live

Break-even rent $1,582

Max offer price $184,900

Occupancy floor 84%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1207 E Congress St Allentown, PA	1.0–2.0	1.0–1.5	749	$1,745	$2.33	2d	43	0.66mi
949 E Linden St Allentown, PA	2.0	2.0	880	$1,795	$2.04	14d	1	0.77mi
801-819 N Halstead St Allentown, PA	2.0	2.0	995	$1,795	$1.80	43d	1	0.82mi
801 N Halstead St Allentown, PA	1.0–2.0	1.0–2.0	872	$1,795	$2.06	2d	1	0.82mi
817 E Turner St Allentown, PA	2.0	1.0	850	$1,795	$2.11	2d	1	0.89mi
2010B Pinehurst Ct Allentown, PA	1.0–2.0	1.0	844	$1,850	$2.19	2d	6	0.99mi
967 Stratford St Bethlehem, PA	3.0	1.0	938	$850	$0.91	43d	1	1.15mi
501 E Walnut St Allentown, PA	2.0	2.0	850	$1,795	$2.11	2d	1	1.23mi
333 River Dr Allentown, PA	1.0–2.0	1.0–2.0	869	$2,025	$2.33	2d	13	1.36mi
2132 Pennsylvania Ave Unit 00 B- 7 Bethlehem, PA	2.0	1.0	956	$1,695	$1.77	14d	1	1.38mi
303 E Union St Unit 1st Allentown, PA	2.0	1.0	977	$1,550	$1.59	43d	1	1.40mi
2252 Catasauqua Rd Bethlehem, PA	1.0–2.0	1.0	767	$1,829	$2.38	2d	22	1.45mi

Listing history 14 events

1. 2026-05-08
   status Pending 701-char remark

   Show marketing remark (701 chars)

   Well maintained single-Family, Twin house located on the east side of Allentown, just minutes away from Bethlehem. Conveniently situated close to major highways, shopping centers, and local amenities. This home features a large backyard with utility shed. Rear parking spaces with carport. Enjoy relaxing on the covered front porch. The main level offers a large family room, providing plenty of space for gathering and everyday living. The fenced backyard includes side access, adding both privacy and functionality. Property is being sold as-is, providing an opportunity for buyers who are looking to add their personal touch. Access to carport parking in the back of the property is from the alley.

2. 2026-04-30
   price $184,900 701-char remark

   Show marketing remark (701 chars)

   Well maintained single-Family, Twin house located on the east side of Allentown, just minutes away from Bethlehem. Conveniently situated close to major highways, shopping centers, and local amenities. This home features a large backyard with utility shed. Rear parking spaces with carport. Enjoy relaxing on the covered front porch. The main level offers a large family room, providing plenty of space for gathering and everyday living. The fenced backyard includes side access, adding both privacy and functionality. Property is being sold as-is, providing an opportunity for buyers who are looking to add their personal touch. Access to carport parking in the back of the property is from the alley.

3. 2026-04-13
   price $189,900 701-char remark

   Show marketing remark (701 chars)

   Well maintained single-Family, Twin house located on the east side of Allentown, just minutes away from Bethlehem. Conveniently situated close to major highways, shopping centers, and local amenities. This home features a large backyard with utility shed. Rear parking spaces with carport. Enjoy relaxing on the covered front porch. The main level offers a large family room, providing plenty of space for gathering and everyday living. The fenced backyard includes side access, adding both privacy and functionality. Property is being sold as-is, providing an opportunity for buyers who are looking to add their personal touch. Access to carport parking in the back of the property is from the alley.

4. 2026-03-31
   price $194,900 701-char remark

   Show marketing remark (701 chars)

   Well maintained single-Family, Twin house located on the east side of Allentown, just minutes away from Bethlehem. Conveniently situated close to major highways, shopping centers, and local amenities. This home features a large backyard with utility shed. Rear parking spaces with carport. Enjoy relaxing on the covered front porch. The main level offers a large family room, providing plenty of space for gathering and everyday living. The fenced backyard includes side access, adding both privacy and functionality. Property is being sold as-is, providing an opportunity for buyers who are looking to add their personal touch. Access to carport parking in the back of the property is from the alley.

5. 2026-03-23
   listed $199,900 Active 701-char remark

   Show marketing remark (701 chars)

   Well maintained single-Family, Twin house located on the east side of Allentown, just minutes away from Bethlehem. Conveniently situated close to major highways, shopping centers, and local amenities. This home features a large backyard with utility shed. Rear parking spaces with carport. Enjoy relaxing on the covered front porch. The main level offers a large family room, providing plenty of space for gathering and everyday living. The fenced backyard includes side access, adding both privacy and functionality. Property is being sold as-is, providing an opportunity for buyers who are looking to add their personal touch. Access to carport parking in the back of the property is from the alley.

6. 2014-10-16
   soldstatus $55,000
7. 2014-10-09
   soldstatus $55,000 86-char remark

   Show marketing remark (86 chars)

   Great Location - Only minutes from downtown Bethlehem and Allentown. Being sold As-Is.

8. 2014-10-09
   soldstatus $55,000

   Show marketing remark (86 chars)

   Great Location - Only minutes from downtown Bethlehem and Allentown. Being sold As-Is.

9. 2014-08-16
   listed $65,000 86-char remark

   Show marketing remark (86 chars)

   Great Location - Only minutes from downtown Bethlehem and Allentown. Being sold As-Is.

10. 2014-08-16
    listed $65,000

    Show marketing remark (86 chars)

    Great Location - Only minutes from downtown Bethlehem and Allentown. Being sold As-Is.

11. 2003-03-01
    historical
12. 2003-01-15
    listed $53,000
13. 2002-12-01
    historical
14. 2002-03-06
    listed $53,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast PA · Partial reset (capped growth)

• Current annual tax: $2,435 · $203/mo
• Projected year-2 tax: $2,678 · $223/mo
• Expected delta: +$243/yr (+$20/mo · 10.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 15% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,184
• − Mortgage interest: −$10,357
• − Property taxes: −$2,435
• − Insurance: −$924
• − Repairs & maintenance: −$1,775
• − Management: −$1,775
• − Depreciation: −$5,379
• Taxable loss: −$461
• Est. tax savings @ 24.0%: +$111
• After-tax cash flow: $2,641/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Allentown City SD
• NCES district ID: 4202280
• Math proficiency: 10% ▼ -10.00%
• Reading proficiency: 20% ▼ -15.00%
• Median HH income: $36,337
• Composite: 12.43/100
• National rank: #9630
• State rank: #513 of 539 in PA

Livability — Allentown

• Score: 81/100
• State rank: #171
• US rank: #1440

Category grades

Amenities A Commute A+ Cost of living A+ Crime C+ Employment D Housing A+ Health & safety A+ User ratings D+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Allentown, PA
• County: Lehigh County · 333,019 people
• City population: 172,996
• Metro: Allentown-Bethlehem-Easton, PA-NJ
• Population (ZIP): 18,446
• Household income: $58,031
• Rent vs Own: 47.9% rent · 52.1% own
• Severe rent burden: 898.0

Population outlook (Lehigh County) Hauer SSP2

• Today (2025): 392,957 people
• By 2030: 408,319 · +3.9%
• By 2040: 440,007 · +12.0%
• By 2050: 475,940 · +21.1%
• By 2075: 590,448 · +50.3%
• By 2100: 690,314 · +75.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Hispanic / Latino 55% White 33% Two or more races 15% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 27% Cuban 1% Dominican 18%
• Common ancestry: Hispanic 2% Romanian 1% Polish 1%
• Foreign-born: 22% · Canada, Jamaica
• Languages at home: 53% English-only · Spanish 37% Arabic 6% French/Haitian/Cajun 2%

Political lean MEDSL · Lehigh

• 2024 margin: Toss-up / Even · D 50.7% · R 48.0% · Other 1.2%
• 2008→2024 swing: -12.9pp toward R · 2008: 15.6pp · 2024: 2.7pp
• All cycles: 2024: D+2.7 2020: D+7.6 2016: D+4.4 2012: D+7.5 2008: D+15.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -96.00%
• Current HPI: 342.9027
• Rent YoY: ▲ 6.57%
• Metro: Allentown-Bethlehem-Easton, PA-NJ
• State GDP YoY: ▲ 1.68%
• F500 in state: 34

Industry mix (Fortune 500 HQ in PA)

Industry	F500 HQs	Revenue
▸Healthcare	2	$309B
▸Insurance	2	$27B
▸Telecommunications / Media	1	$124B
▸Industrial Distribution	1	$22B
▸Financial Services	1	$20B
▸Chemicals / Materials	1	$18B

Price history

+248.9% since first listed

14 events — show timeline

• 2026-05-08 Pending — GLVRMLS
• 2026-04-30 Price Changed $184,900 GLVRMLS
• 2026-04-13 Price Changed $189,900 GLVRMLS
• 2026-03-31 Price Changed $194,900 GLVRMLS
• 2026-03-23 Listed $199,900 GLVRMLS
• 2014-10-16 Sold (Public Records) $55,000 Public Records
• 2014-10-09 Sold (MLS) $55,000 GLVRMLS
• 2014-10-09 Sold (MLS) $55,000 GLVRMLS
• 2014-08-16 Listed $65,000 GLVRMLS
• 2014-08-16 Listed $65,000 GLVRMLS
• 2003-03-01 Listing Removed — GLVRMLS
• 2003-01-15 Listed $53,000 GLVRMLS
• 2002-12-01 Listing Removed — GLVRMLS
• 2002-03-06 Listed $53,000 GLVRMLS

Property tax history

-1.6%/yr

Latest (2026): $2,435 · +0.9% YoY. Source: county tax records.