208 Hobart St · Bethlehem, PA 18015

$150,000

3 bd · 1.0 ba · 896 sqft · SingleFamily public records · 40 Days on market

Built 1910 795 sqft lot $167/sqft · at area comps Est $210k · 29% 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 +29.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• Rent growth +4.3/5.0
• Livability +4.1/5.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity knocks! Welcome to this charming, adaptable home in South Side Bethlehem. Currently three bedrooms with the potential to convert up to five, the main level offers a roomy living area and a separate dining room—perfect for daily living and entertaining. Step outside to a fenced yard with a patio ideal for gatherings. The walk-out basement adds extra living space and includes a separate laundry room for convenience. The second floor contains three comfortable bedrooms and a full bath, while the expansive third-floor bonus room can serve as an extra bedroom, home office, or guest suite. Ideal for homeowners or investors, this location is close to Wind Creek Casino, Lehigh University, SteelStacks, shopping, dining, public transit, and major commuter routes.

Key facts

• Fenced yard
• Separate dining room
• Walk-out basement

Tags

• FENCED YARD
• SEPARATE DINING ROOM
• WALK-OUT BASEMENT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $529 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $146k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 4.3% in Bethlehem — 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 82/100 on livability (#138 in PA, #1,122 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: commute F.
• Bethlehem Area SD (urban): math 31% / reading 49% proficiency, ranked #342 of 539 in PA (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Donegan El Sch (math 5% / reading 34%, grade F, #1,259 of 1,518 statewide, top 84%, 449 students, 90% FRL); Broughal Ms (math 7% / reading 31%, grade F, #447 of 512 statewide, top 88%, 500 students, 88% FRL); Freedom Hs (math 49% / reading 5%, grade F, #365 of 437 statewide, top 85%, 1,753 students, 38% FRL) — zoned schools average 72% FRL vs 43% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 40% district-wide (-18 pts) — the specific schools serving this property underperform the Bethlehem Area SD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+7.2%/yr); 156 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 567 units permitted in Northampton County in 2024 (151 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.2% rent growth), your $42k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y 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.
• Current owner paid $60k; list at $150k implies a 150% 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 $145,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 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 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?
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: 1.28% ✓
• Cap rate: 10.52%
• Cash-on-cash: 15.11%
• DSCR: 1.67
• GRM: 6.5

CMA / ARV

• ARV (median comp): $209,828
• List price: $150,000
• Delta: -28.51%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 7.18% rent growth · sell at horizon

5-year hold

• IRR: 10.2%
• Equity multiple: 1.42×
• Total profit: $17,808
• Equity at exit: $22,365

10-year hold

• IRR: 22.5%
• Equity multiple: 3.30×
• Total profit: $96,600
• Equity at exit: $12,969

Cash invested: $42,000 (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 18015

• Home prices YoY: -30.7%
• Rents YoY: 7.2%
• Active inventory: 156
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,924 high
• Mortgage (P&I): −$787
• Tax from tax record: −$142 /mo · $1,704/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $529

Break-even live

Break-even rent $1,255

Max offer price $150,000

Occupancy floor 68%

Sensitivity live

Price	-10% $614	-5% $571	+0% $529	+5% $486	+10% $444
Rent	-10% $377	-5% $453	+0% $529	+5% $605	+10% $681
Rate	-1.0pp $604	-0.5pp $567	base $529	+0.5pp $490	+1.0pp $450

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1209 Mechanic St Bethlehem, PA	3.0	1.0	1003	$2,000	$1.99	22d	1	0.09mi
1201 E 4th St Unit 4 Bethlehem, PA	3.0	1.5	1100	$1,800	$1.64	45d	1	0.11mi
1113 E 4th St Unit 1 Bethlehem, PA	2.0	1.0	1000	$1,350	$1.35	25d	1	0.18mi
1306 E 4th St #3 Bethlehem, PA	2.0	1.0	1000	$1,550	$1.55	45d	1	0.25mi
938 E 4th St Unit 102 Bethlehem, PA	2.0	1.0	813	$1,970	$2.42	45d	1	0.29mi
938 E 4th St Unit G02 Bethlehem, PA	2.0	1.0	813	$1,970	$2.42	15d	1	0.29mi
938 E 4th St Unit 201 Bethlehem, PA	2.0	1.0	982	$2,350	$2.39	45d	1	0.29mi
938 E 4th St #401 Bethlehem, PA	2.0	1.0	928	$2,150	$2.32	45d	1	0.29mi
738 E 4th St Unit 1 Bethlehem, PA	3.0	1.0	750	$1,600	$2.13	15d	1	0.45mi
740 Laufer St Bethlehem, PA	3.0	1.5	910	$1,650	$1.81	15d	1	0.50mi
610 E 3rd St Bethlehem, PA	1.0–2.0	1.0–2.0	974	$3,008	$3.09	4d	8	0.53mi
824 E 8th St Bethlehem, PA	2.0	1.5	952	$1,400	$1.47	45d	1	0.64mi
650 E North St Bethlehem, PA	2.0	1.0–2.0	935	$2,350	$2.51	15d	7	0.69mi
1630 E 9th St Bethlehem, PA	2.0	1.0	750	$1,750	$2.33	15d	1	0.73mi
530 High St Unit 32 Bethlehem, PA	2.0	1.0	800	$1,595	$1.99	15d	1	0.90mi
708 Linden St Unit 2 Bethlehem, PA	2.0	1.0	800	$1,500	$1.88	15d	1	0.92mi
746 Linden St Unit 2 Bethlehem, PA	3.0	1.0	1008	$1,975	$1.96	45d	1	0.97mi
401 E Goepp St #2 Bethlehem, PA	2.0	1.0	750	$1,875	$2.50	25d	1	1.02mi
11 W 2nd St Bethlehem, PA	2.0	2.0	1620	$2,550	$1.57	25d	4	1.03mi
30 E Market St Bethlehem, PA	2.0	1.0	800	$1,650	$2.06	25d	1	1.04mi
229 E Union Blvd Unit 1st Floor Bethlehem, PA	2.0	1.0	1000	$1,675	$1.68	4d	1	1.05mi
229 E Union Blvd Unit 2nd Floor Bethlehem, PA	2.0	1.0	982	$1,595	$1.62	4d	1	1.05mi
1130 Pembroke Rd Unit 2 Bethlehem, PA	2.0	1.0	750	$1,750	$2.33	45d	1	1.14mi
62 E Garrison St Bethlehem, PA	2.0	2.0	800	$1,450	$1.81	45d	1	1.14mi
214 Clearfield St Freemansburg, PA	3.0	1.0	966	$1,700	$1.76	4d	1	1.18mi
228 W 3rd St Bethlehem, PA	2.0	1.0	750	$1,595	$2.13	45d	1	1.21mi
69 E Goepp St Bethlehem, PA	3.0	1.0	1100	$2,150	$1.95	4d	1	1.23mi
30 W Broad St Bethlehem, PA	1.0–2.0	1.0–2.0	648	$2,490	$3.84	15d	14	1.23mi
30 W Broad St Bethlehem, PA	1.0–2.0	1.0–2.0	660	$2,620	$3.97	4d	20	1.23mi
315 Clearfield St Unit A Freemansburg, PA	2.0	1.0	1040	$2,000	$1.92	4d	1	1.27mi
315 Clearfield St Freemansburg, PA	2.0	1.0	1040	$2,000	$1.92	4d	1	1.27mi
50 W Garrison St Unit 1 Bethlehem, PA	2.0	1.0	900	$1,395	$1.55	4d	1	1.33mi
521 Hess St Bethlehem, PA	3.0	1.0	1120	$1,500	$1.34	22d	1	1.35mi
414 Cherokee St Unit 414 2nd Fl Bethlehem, PA	2.0	1.0	800	$1,800	$2.25	15d	1	1.43mi
320 2nd Ave Bethlehem, PA	3.0	1.0	1024	$1,950	$1.90	4d	1	1.46mi
124 W Union Blvd Unit 214 Bethlehem, PA	2.0	2.0	1000	$2,120	$2.12	25d	1	1.47mi
541 Jischke St Bethlehem, PA	3.0	1.0	1090	$1,800	$1.65	25d	1	1.49mi

Listing history 13 events

1. 2026-05-10
   status Pending 781-char remark

   Show marketing remark (781 chars)

   Opportunity knocks! Welcome to this charming, adaptable home in South Side Bethlehem. Currently three bedrooms with the potential to convert up to five, the main level offers a roomy living area and a separate dining room—perfect for daily living and entertaining. Step outside to a fenced yard with a patio ideal for gatherings. The walk-out basement adds extra living space and includes a separate laundry room for convenience. The second floor contains three comfortable bedrooms and a full bath, while the expansive third-floor bonus room can serve as an extra bedroom, home office, or guest suite. Ideal for homeowners or investors, this location is close to Wind Creek Casino, Lehigh University, SteelStacks, shopping, dining, public transit, and major commuter routes.

2. 2026-05-08
   price $150,000 781-char remark

   Show marketing remark (781 chars)

   Opportunity knocks! Welcome to this charming, adaptable home in South Side Bethlehem. Currently three bedrooms with the potential to convert up to five, the main level offers a roomy living area and a separate dining room—perfect for daily living and entertaining. Step outside to a fenced yard with a patio ideal for gatherings. The walk-out basement adds extra living space and includes a separate laundry room for convenience. The second floor contains three comfortable bedrooms and a full bath, while the expansive third-floor bonus room can serve as an extra bedroom, home office, or guest suite. Ideal for homeowners or investors, this location is close to Wind Creek Casino, Lehigh University, SteelStacks, shopping, dining, public transit, and major commuter routes.

3. 2026-04-04
   price $160,000 781-char remark

   Show marketing remark (781 chars)

   Opportunity knocks! Welcome to this charming, adaptable home in South Side Bethlehem. Currently three bedrooms with the potential to convert up to five, the main level offers a roomy living area and a separate dining room—perfect for daily living and entertaining. Step outside to a fenced yard with a patio ideal for gatherings. The walk-out basement adds extra living space and includes a separate laundry room for convenience. The second floor contains three comfortable bedrooms and a full bath, while the expansive third-floor bonus room can serve as an extra bedroom, home office, or guest suite. Ideal for homeowners or investors, this location is close to Wind Creek Casino, Lehigh University, SteelStacks, shopping, dining, public transit, and major commuter routes.

4. 2026-03-31
   listed $149,000 Active 781-char remark

   Show marketing remark (781 chars)

   Opportunity knocks! Welcome to this charming, adaptable home in South Side Bethlehem. Currently three bedrooms with the potential to convert up to five, the main level offers a roomy living area and a separate dining room—perfect for daily living and entertaining. Step outside to a fenced yard with a patio ideal for gatherings. The walk-out basement adds extra living space and includes a separate laundry room for convenience. The second floor contains three comfortable bedrooms and a full bath, while the expansive third-floor bonus room can serve as an extra bedroom, home office, or guest suite. Ideal for homeowners or investors, this location is close to Wind Creek Casino, Lehigh University, SteelStacks, shopping, dining, public transit, and major commuter routes.

5. 2026-03-31
   historical

   Show marketing remark (781 chars)

   Opportunity knocks! Welcome to this charming, adaptable home in South Side Bethlehem. Currently three bedrooms with the potential to convert up to five, the main level offers a roomy living area and a separate dining room—perfect for daily living and entertaining. Step outside to a fenced yard with a patio ideal for gatherings. The walk-out basement adds extra living space and includes a separate laundry room for convenience. The second floor contains three comfortable bedrooms and a full bath, while the expansive third-floor bonus room can serve as an extra bedroom, home office, or guest suite. Ideal for homeowners or investors, this location is close to Wind Creek Casino, Lehigh University, SteelStacks, shopping, dining, public transit, and major commuter routes.

6. 2026-03-25
   listed $148,000 Active
7. 2017-04-10
   soldstatus $60,000
8. 2017-04-06
   soldstatus $60,000 Sold
9. 2017-03-09
   status Pending
10. 2017-01-28
    listed $69,900 Active
11. 2016-11-23
    historical
12. 2016-06-07
    listed $90,000 Active
13. 1992-07-01
    soldstatus $41,000

ⓘ 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: $1,704 · $142/mo
• Projected year-2 tax: $2,037 · $170/mo
• Expected delta: +$333/yr (+$28/mo · 19.6%)

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% 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: $23,087
• − Mortgage interest: −$8,402
• − Property taxes: −$1,704
• − Insurance: −$750
• − Repairs & maintenance: −$1,847
• − Management: −$1,847
• − Depreciation: −$4,364
• Taxable income: $4,174
• Est. tax owed @ 24.0%: −$1,002
• After-tax cash flow: $5,344/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: Bethlehem Area SD
• NCES district ID: 4203570
• Math proficiency: 31% ▼ -2.00%
• Reading proficiency: 49% ▼ -6.00%
• Median HH income: $55,124
• Composite: 34.92/100
• National rank: #5068
• State rank: #342 of 539 in PA

Livability — Bethlehem

• Score: 82/100
• State rank: #138
• US rank: #1122

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bethlehem, PA
• County: Northampton County · 236,814 people
• City population: 129,661
• Metro: Allentown-Bethlehem-Easton, PA-NJ
• Population (ZIP): 34,852
• Household income: $60,800
• Rent vs Own: 49.5% rent · 50.5% own
• Severe rent burden: 1525.0

Population outlook (Northampton County) Hauer SSP2

• Today (2025): 312,227 people
• By 2030: 314,769 · +0.8%
• By 2040: 316,914 · +1.5%
• By 2050: 318,037 · +1.9%
• By 2075: 334,003 · +7.0%
• By 2100: 344,696 · +10.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 53% Hispanic / Latino 29% Two or more races 14% Black 10% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 19% Dominican 3%
• Common ancestry: Romanian 4% Danish 1% Iranian 1%
• Foreign-born: 12% · Canada, China, Jamaica
• Languages at home: 73% English-only · Spanish 21% Chinese 2% Other Indo-European 2%

Political lean MEDSL · Northampton

• 2024 margin: Toss-up / Even · D 48.6% · R 50.4%
• 2008→2024 swing: -14.1pp toward R · 2008: 12.3pp · 2024: -1.8pp
• All cycles: 2024: R+1.8 2020: D+0.7 2016: R+3.8 2012: D+4.6 2008: D+12.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -122.95%
• Current HPI: 277.4721
• Rent YoY: ▲ 7.18%
• 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

+265.9% since first listed

13 events — show timeline

• 2026-05-10 Pending — GLVRMLS
• 2026-05-08 Price Changed $150,000 GLVRMLS
• 2026-04-04 Price Changed $160,000 GLVRMLS
• 2026-03-31 Listing Removed — GLVRMLS
• 2026-03-31 Listed $149,000 GLVRMLS
• 2026-03-25 Listed $148,000 GLVRMLS
• 2017-04-10 Sold (Public Records) $60,000 Public Records
• 2017-04-06 Sold (MLS) $60,000 GLVRMLS
• 2017-03-09 Pending — GLVRMLS
• 2017-01-28 Listed $69,900 GLVRMLS
• 2016-11-23 Listing Removed — GLVRMLS
• 2016-06-07 Listed $90,000 GLVRMLS
• 1992-07-01 Sold (Public Records) $41,000 Public Records

Property tax history

+1.5%/yr

Latest (2026): $1,704 · +3.5% YoY. Source: county tax records.