132 E Marshall Ave · Langhorne, PA 19047

$389,900

3 bd · 1.0 ba · 1,306 sqft · MultiFamily public records · 23 Days on market

Built 1900

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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 +24.7/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Schools +4.5/10.0
• Livability +3.8/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Immediate possession !!! 4 bedroom 1.5 bath Victorian Twin in much sought after Langhorne Borough. Home is being sold in AS-IS condition. Gas Heat and Central Air. Front covered porch. Pine plank flooring. off street parking. 177& apos; deep lot. walk up attic. Schedule your appointment today to see the Many fine attributes of this home.

Key facts

• Front covered porch
• Victorian twin
• Off street parking

Tags

• VICTORIAN TWIN
• FRONT COVERED PORCH
• PINE PLANK FLOORING
• OFF STREET PARKING
• WALK UP ATTIC

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $390k.

Deal economics

• At list price, monthly cash flow is $816 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $390k).
• Recommended offer: $384k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 2.7% in Langhorne — 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 76/100 on livability (#402 in PA, #3,657 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living C-, amenities F, commute F.
• Neshaminy SD (suburban): math 41% / reading 57% proficiency, ranked #150 of 539 in PA (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: Rents flat; 125 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 663 units permitted in Bucks County in 2024 (106 in 5+ unit buildings).
• At $4,168/mo this rent would consume 46% of the median local household income ($110k/yr) (locally 1064% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Bucks County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($384k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $384,051 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.07% ✓
• Cap rate: 8.80%
• Cash-on-cash: 8.97%
• DSCR: 1.40
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.81% rent growth · sell at horizon

5-year hold

• IRR: -5.1%
• Equity multiple: 0.81×
• Total profit: $-20,282
• Equity at exit: $58,135

10-year hold

• IRR: 1.9%
• Equity multiple: 1.13×
• Total profit: $13,658
• Equity at exit: $33,711

Cash invested: $109,172 (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 19047

• Rents YoY: 0.8%
• Active inventory: 125
• Price-to-rent: 15.6×

Monthly cashflow live

• Estimated rent: $4,168 medium
• Mortgage (P&I): −$2,045
• Tax from tax record: −$270 /mo · $3,238/yr
• Insurance: −$162
• HOA: −$0
• Vacancy / Maint / Mgmt: −$875
• Net cashflow: $816

Break-even live

Break-even rent $3,135

Max offer price $389,900

Occupancy floor 75%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,168
Total (2 units)			$4,168

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: $97,475
• Closing costs: $11,697
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Barclay Ct Langhorne, PA	2.0	2.0	1189	$2,430	$2.04	1d	1	0.49mi

Listing history 16 events

1. 2026-06-18
   days on market $389,900 Active 23 DOM
2. 2026-06-17
   days on market $389,900 Active 22 DOM
3. 2026-06-16
   days on market $389,900 Active 21 DOM
4. 2026-06-15
   days on market $389,900 Active 20 DOM
5. 2026-06-13
   days on market $389,900 Active 18 DOM
6. 2026-06-09
   days on market $389,900 Active 14 DOM
7. 2026-06-08
   days on market $389,900 Active 13 DOM
8. 2026-06-07
   days on market $389,900 Active 12 DOM
9. 2026-06-04
   days on market $389,900 Active 9 DOM
10. 2026-06-03
    days on market $389,900 Active 8 DOM
11. 2026-06-02
    days on market $389,900 Active 7 DOM
12. 2026-06-01
    days on market $389,900 Active 6 DOM
13. 2026-05-31
    days on market $389,900 Active 5 DOM
14. 2026-05-26
    listed $389,900 Active
15. 2015-04-12
    historical
16. 2014-08-18
    listed $250,000

ⓘ 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: $3,238 · $270/mo
• Projected year-2 tax: $4,699 · $392/mo
• Expected delta: +$1,461/yr (+$122/mo · 45.1%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $50,016
• − Mortgage interest: −$21,840
• − Property taxes: −$3,238
• − Insurance: −$1,950
• − Repairs & maintenance: −$4,001
• − Management: −$4,001
• − Depreciation: −$11,343
• Taxable income: $3,643
• Est. tax owed @ 24.0%: −$874
• After-tax cash flow: $8,915/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: Neshaminy SD
• NCES district ID: 4216410
• Math proficiency: 41% ▼ -10.00%
• Reading proficiency: 57% ▼ -14.00%
• Median HH income: $78,072
• Composite: 44.58/100
• National rank: #2782
• State rank: #150 of 539 in PA

Livability — Langhorne

• Score: 76/100
• State rank: #402
• US rank: #3657

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Langhorne, PA
• County: Bucks County · 506,477 people
• City population: 34,563
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 34,563
• Household income: $109,530
• Rent vs Own: 27.6% rent · 72.4% own
• Severe rent burden: 1064.0

Population outlook (Bucks County) Hauer SSP2

• Today (2025): 630,973 people
• By 2030: 627,093 · -0.6%
• By 2040: 609,680 · -3.4%
• By 2050: 584,225 · -7.4%
• By 2075: 539,840 · -14.4%
• By 2100: 483,970 · -23.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 6% Black 5% Hispanic / Latino 4% Asian 4%
• Common ancestry: Romanian 7% Slovak 2% Subsaharan African 1%
• Foreign-born: 7% · Canada, China, Dominican Republic
• Languages at home: 91% English-only · Other Indo-European 3% Spanish 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Bucks

• 2024 margin: Toss-up / Even · D 49.5% · R 49.5%
• 2008→2024 swing: -8.7pp toward R · 2008: 8.7pp · 2024: -0.1pp
• All cycles: 2024: R+0.1 2020: D+4.4 2016: D+0.6 2012: D+1.2 2008: D+8.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -288.47%
• Current HPI: 304.1718
• Rent YoY: ▲ 0.81%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• 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

+56.0% since first listed

3 events — show timeline

• 2026-05-26 Listed $389,900 FSBO.com
• 2015-04-12 Listing Removed — BRIGHT MLS
• 2014-08-18 Listed $250,000 BRIGHT MLS

Property tax history

+1.5%/yr

Latest (2026): $3,238 · +4.7% YoY. Source: county tax records.