137 South St · Allentown, PA 18109

$159,000

3 bd · 1.0 ba · 1,138 sqft · Townhouse public records · 20 Days on market

Built 1928 1,702 sqft lot Est $220k · 28% under

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Why this score? — see what drove the B- 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 +25.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.6/10.0
• 1% rule +6.7/10.0
• 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

Great opportunity to transform this spacious attached row home in a quiet, desirable neighborhood. Featuring 3 bedrooms, 1.5 baths, a large living and dining room, dry basement, oversized front porch, and a generously sized backyard with rear street access offering potential for a private parking pad. Ideal for a homeowner looking to build equity or an investor seeking strong upside potential. With solid bones and plenty of space, this fixer-upper is ready for your vision and renovation ideas.

Key facts

• Rear street access
• Private parking pad
• Dry basement

Tags

• DRY BASEMENT
• OVERSIZED FRONT PORCH
• GENEROUSLY SIZED BACKYARD
• REAR STREET ACCESS
• PRIVATE PARKING PAD

Property features AI

Exterior

• Parking: 1-car garage; Off-street parking; Parking pad; On-street parking
• Utilities: Public water; Public sewer
• Home design: 2-story building
• Construction: Brick, brick veneer, block and wood siding construction; Asphalt/fiberglass roof; Basement and slab foundations
• Exterior features: Public water; Public sewer

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Primary bedroom on the second floor (13.6 x 9.6)
• Flooring: Hardwood floors; Vinyl floors
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Baseboard heating; Wall/window air conditioning units
• Interior features: Dining area; Eat-in kitchen; Fireplace in family room
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $159k.

Deal economics

• At list price, monthly cash flow is $383 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Recommended offer: $157k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.2% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 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 $5k 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 $45k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($157k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $156,615 (1.5% below list)

Questions for the listing agent

1. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.17% ✓
• Cap rate: 9.18%
• Cash-on-cash: 10.31%
• DSCR: 1.46
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $219,634
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
203 E Union St	0.21mi	3/1.0	1,120 (-2%)	3mo	$165,000	$147	85
268 E Mosser St	0.23mi	3/1.5	1,138 (0%)	9mo	$240,000	$211	80
243 E Elm	0.17mi	2/1.0 (-1)	1,056 (-7%)	7mo	$189,900	$180	69
339 E Howe	0.50mi	3/1.0	1,140 (+0%)	9mo	$167,000	$146	69
334 E Mosser St	0.34mi	3/1.5	1,080 (-5%)	7mo	$255,900	$237	68
132 W Chew St	0.75mi	3/1.0	1,160 (+2%)	1mo	$192,000	$166	62
38 Pittston St	0.57mi	3/1.5	1,208 (+6%)	6mo	$245,000	$203	56
172 Chestnut St	0.69mi	3/1.0	1,064 (-6%)	3mo	$197,000	$185	55
804 S Armour St	0.54mi	3/1.5	1,008 (-11%)	4mo	$245,000	$243	50
127 Bryan St	0.74mi	3/1.0	1,036 (-9%)	3mo	$150,000	$145	48
708 S Armour St	0.52mi	3/2.5	1,008 (-11%)	6mo	$275,000	$273	45
701 S Front St	0.52mi	2/1.5 (-1)	1,272 (+12%)	6mo	$245,000	$193	44

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: 3.1%
• Equity multiple: 1.12×
• Total profit: $5,507
• Equity at exit: $23,707

10-year hold

• IRR: 15.8%
• Equity multiple: 2.50×
• Total profit: $66,676
• Equity at exit: $13,747

Cash invested: $44,520 (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: 7.2×

Monthly cashflow live

• Estimated rent: $1,852 high
• Mortgage (P&I): −$834
• Tax from tax record: −$181 /mo · $2,170/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $383

Break-even live

Break-even rent $1,368

Max offer price $159,000

Occupancy floor 74%

Sensitivity live

Price	-10% $473	-5% $428	+0% $383	+5% $338	+10% $293
Rent	-10% $236	-5% $309	+0% $383	+5% $456	+10% $529
Rate	-1.0pp $463	-0.5pp $423	base $383	+0.5pp $341	+1.0pp $299

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
503 S Austin St Unit 524 Allentown, PA	2.0	1.0	1000	$1,750	$1.75	24d	1	0.07mi
503 S Austin St Unit 520 Allentown, PA	2.0	1.0	1000	$1,650	$1.65	15d	1	0.07mi
503 S Austin St Unit A Allentown, PA	2.0	1.0	1000	$1,650	$1.65	3d	1	0.07mi
503 S Austin St Unit 514 Allentown, PA	2.0	1.0	1000	$1,550	$1.55	15d	1	0.07mi
503 S Austin St Unit 503 A Allentown, PA	2.0	1.0	1000	$1,900	$1.90	15d	1	0.09mi
503 S Austin St Unit 517 A Allentown, PA	2.0	1.0	1000	$1,900	$1.90	15d	1	0.09mi
230 E Fairview St Allentown, PA	3.0	2.0	1414	$2,300	$1.63	24d	1	0.18mi
303 E Union St Unit 1st Allentown, PA	2.0	1.0	977	$1,550	$1.59	44d	1	0.33mi
333 River Dr Allentown, PA	1.0–2.0	1.0–2.0	869	$2,025	$2.33	3d	13	0.45mi
501 E Walnut St Allentown, PA	2.0	2.0	850	$1,795	$2.11	3d	1	0.50mi
717 S Filmore St Allentown, PA	2.0	1.0	950	$1,745	$1.84	3d	1	0.68mi
236 N Front St Allentown, PA	3.0	1.0	1020	$1,800	$1.76	3d	1	0.69mi
208 Ridge Ave Allentown, PA	4.0	1.0	1396	$1,700	$1.22	24d	1	0.69mi
208 Ridge Ave Allentown, PA	4.0	1.0	1396	$1,600	$1.15	3d	1	0.69mi
1012 Constitution Dr Allentown, PA	2.0	1.0	1400	$1,495	$1.07	24d	1	0.73mi
132 Chew St Allentown, PA	3.0	1.0	1160	$1,995	$1.72	15d	1	0.74mi
201 N 3rd St Allentown, PA	2.0	2.0	1145	$2,128	$1.86	3d	4	0.81mi
305 N 2nd St #1 Allentown, PA	2.0	1.0	757	$1,500	$1.98	24d	1	0.82mi
817 E Turner St Allentown, PA	2.0	1.0	850	$1,795	$2.11	3d	1	0.86mi
605 E Susquehanna St Allentown, PA	3.0	1.0	1092	$2,500	$2.29	15d	1	0.90mi
146 W Susquehanna St Allentown, PA	2.0	1.5	1200	$1,995	$1.66	15d	1	0.93mi
949 E Linden St Allentown, PA	2.0	2.0	880	$1,795	$2.04	15d	1	0.94mi
120 N 4th St Unit 2 Allentown, PA	2.0	1.0	780	$1,475	$1.89	44d	1	0.95mi
1509 S Albert St Allentown, PA	3.0	1.0	920	$1,750	$1.90	22d	1	1.07mi
407 N 4th St Allentown, PA	3.0	1.5	1321	$1,550	$1.17	24d	1	1.11mi
45 N 6th St Allentown, PA	2.0	1.0–2.0	1002	$3,616	$3.61	3d	13	1.11mi
26 N 6th St Allentown, PA	1.0–2.0	1.0–2.0	953	$2,224	$2.33	3d	9	1.14mi
520 W Cumberland St Allentown, PA	1.0–2.0	1.0–2.0	929	$2,293	$2.47	3d	13	1.16mi
517 Elliger St Allentown, PA	3.0	1.5	1235	$1,700	$1.38	24d	1	1.17mi
702 Saint John St Apt 3 Allentown, PA	2.0	1.0	896	$1,400	$1.56	3d	1	1.20mi
218 N 6th St Apt 3 Allentown, PA	3.0	1.0	750	$1,600	$2.13	24d	1	1.20mi
27 N 7th St Allentown, PA	2.0	1.0–2.0	840	$2,222	$2.64	3d	11	1.22mi
621 W Turner St Apt 14 Allentown, PA	3.0	1.0	800	$1,395	$1.74	24d	1	1.22mi
107 N 7th St Allentown, PA	2.0	1.0–2.0	855	$2,972	$3.47	3d	23	1.23mi
427 N 5th St Unit 2 Allentown, PA	2.0	1.0	800	$1,400	$1.75	15d	1	1.23mi
743 N Halstead St Allentown, PA	3.0	1.0	1356	$1,800	$1.33	3d	1	1.24mi
748 S Hall St Unit 1 Allentown, PA	3.0	1.5	1183	$2,000	$1.69	24d	1	1.24mi
626 Oak St Allentown, PA	3.0	1.0	1396	$1,900	$1.36	44d	1	1.24mi
395 W Allen St Allentown, PA	3.0	1.0	1344	$1,800	$1.34	24d	1	1.25mi
451 W Liberty St Allentown, PA	2.0	1.0	1126	$1,395	$1.24	44d	1	1.25mi

Listing history 15 events

1. 2026-06-18
   days on market $159,000 Active 20 DOM
2. 2026-06-17
   days on market $159,000 Active 19 DOM
3. 2026-06-16
   days on market $159,000 Active 18 DOM
4. 2026-06-15
   days on market $159,000 Active 17 DOM
5. 2026-06-14
   days on market $159,000 Active 15 DOM
6. 2026-06-10
   days on market $159,000 Active 12 DOM
7. 2026-06-09
   days on market $159,000 Active 11 DOM
8. 2026-06-08
   days on market $159,000 Active 10 DOM
9. 2026-06-07
   days on market $159,000 Active 9 DOM
10. 2026-06-03
    days on market $159,000 Active 5 DOM
11. 2026-06-02
    days on market $159,000 Active 4 DOM
12. 2026-06-01
    days on market $159,000 Active 3 DOM
13. 2026-05-31
    days on market $159,000 Active 2 DOM
14. 2026-05-31
    remarks 498-char remark
15. 2026-05-31
    listed $159,000 Active 1 DOM

ⓘ 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: $2,170 · $181/mo
• Projected year-2 tax: $2,341 · $195/mo
• Expected delta: +$171/yr (+$14/mo · 7.9%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% 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: $22,229
• − Mortgage interest: −$8,906
• − Property taxes: −$2,170
• − Insurance: −$795
• − Repairs & maintenance: −$1,778
• − Management: −$1,778
• − Depreciation: −$4,625
• Taxable income: $2,176
• Est. tax owed @ 24.0%: −$522
• After-tax cash flow: $4,068/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

1 event — show timeline

• 2026-05-28 Listed $159,000 GLVRMLS

Property tax history

-1.9%/yr

Latest (2026): $2,170 · +0.8% YoY. Source: county tax records.