108 Brandywine Dr · Middletown, PA 18020

$214,900

3 bd · 1.5 ba · 1,231 sqft · Condo public records · 4 Days on market

Built 1991 $245/mo HOA · 9% of rent

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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 +24.2/30.0
• DSCR +7.8/10.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

HIGHEST & BEST OFFERS ARE DUE 12/6 at 5PM. rare gem in this market! Live maintenance free in this END-UNIT townhouse in the Bethlehem Township community of Penn Farms. This renovated townhouse offers new windows throughout, fresh paint, new LUXURY PLANK VINYL floors, a renovated kitchen with GRANITE countertops, and STAINLESS STEEL APPLIANCES, 3 spacious bedrooms, and 2 bathrooms that have been renovated with new vanities, light fixtures, and more. The home offers CENTRAL AC, gas heat, and public water & sewer. This extremely affordable home has taxes that are just $2,782.80 per year and the HOA dues are only $245/month and include exterior maintenance, parking, lawn care, and snow removal. The location is ideal as it's less than 5 minutes to all major highways and shopping.

Key facts

• $245 HOA
• Built 1991
• Listed 4 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $215k.

Deal economics

• At list price, monthly cash flow is $427 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).
• Cap rate 8.7% vs local median 3.1% in Middletown — 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 80/100 on livability (#214 in PA, #1,886 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities 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.
• Market conditions: 75 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 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 $6k of value loss. Plan a longer hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 5y 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

• 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 $214,900

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.26% ✓
• Cap rate: 8.68%
• Cash-on-cash: 8.51%
• DSCR: 1.38
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -3.3%
• Equity multiple: 0.88×
• Total profit: $-7,459
• Equity at exit: $32,042

10-year hold

• IRR: 6.5%
• Equity multiple: 1.49×
• Total profit: $29,234
• Equity at exit: $18,581

Cash invested: $60,172 (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 18020

• Active inventory: 75
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,702 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$246 /mo · $2,957/yr
• Insurance: −$90
• HOA: −$245
• Vacancy / Maint / Mgmt: −$567
• Net cashflow: $427

Break-even live

Break-even rent $2,162

Max offer price $214,900

Occupancy floor 79%

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: $53,725
• Closing costs: $6,447
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4034 Easton Ave Unit 1A 2nd Floor Bethlehem, PA	3.0	1.0	1500	$2,495	$1.66	23d	1	0.62mi

HOA detail condo

• Monthly dues: $245 · $2,940/yr
• Likely covers: watersewergaslandscapingsnow removalexterior maint.
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2022-01-14
   soldstatus $219,000 Sold 799-char remark

   Show marketing remark (799 chars)

   HIGHEST & BEST OFFERS ARE DUE 12/6 at 5PM. rare gem in this market! Live maintenance free in this END-UNIT townhouse in the Bethlehem Township community of Penn Farms. This renovated townhouse offers new windows throughout, fresh paint, new LUXURY PLANK VINYL floors, a renovated kitchen with GRANITE countertops, and STAINLESS STEEL APPLIANCES, 3 spacious bedrooms, and 2 bathrooms that have been renovated with new vanities, light fixtures, and more. The home offers CENTRAL AC, gas heat, and public water & sewer. This extremely affordable home has taxes that are just $2,782.80 per year and the HOA dues are only $245/month and include exterior maintenance, parking, lawn care, and snow removal. The location is ideal as it's less than 5 minutes to all major highways and shopping.

2. 2022-01-14
   soldstatus $219,000 799-char remark

   Show marketing remark (799 chars)

   HIGHEST & BEST OFFERS ARE DUE 12/6 at 5PM. rare gem in this market! Live maintenance free in this END-UNIT townhouse in the Bethlehem Township community of Penn Farms. This renovated townhouse offers new windows throughout, fresh paint, new LUXURY PLANK VINYL floors, a renovated kitchen with GRANITE countertops, and STAINLESS STEEL APPLIANCES, 3 spacious bedrooms, and 2 bathrooms that have been renovated with new vanities, light fixtures, and more. The home offers CENTRAL AC, gas heat, and public water & sewer. This extremely affordable home has taxes that are just $2,782.80 per year and the HOA dues are only $245/month and include exterior maintenance, parking, lawn care, and snow removal. The location is ideal as it's less than 5 minutes to all major highways and shopping.

3. 2021-12-07
   status Pending

   Show marketing remark (799 chars)

   HIGHEST & BEST OFFERS ARE DUE 12/6 at 5PM. rare gem in this market! Live maintenance free in this END-UNIT townhouse in the Bethlehem Township community of Penn Farms. This renovated townhouse offers new windows throughout, fresh paint, new LUXURY PLANK VINYL floors, a renovated kitchen with GRANITE countertops, and STAINLESS STEEL APPLIANCES, 3 spacious bedrooms, and 2 bathrooms that have been renovated with new vanities, light fixtures, and more. The home offers CENTRAL AC, gas heat, and public water & sewer. This extremely affordable home has taxes that are just $2,782.80 per year and the HOA dues are only $245/month and include exterior maintenance, parking, lawn care, and snow removal. The location is ideal as it's less than 5 minutes to all major highways and shopping.

4. 2021-12-07
   status Pending 799-char remark

   Show marketing remark (799 chars)

   HIGHEST & BEST OFFERS ARE DUE 12/6 at 5PM. rare gem in this market! Live maintenance free in this END-UNIT townhouse in the Bethlehem Township community of Penn Farms. This renovated townhouse offers new windows throughout, fresh paint, new LUXURY PLANK VINYL floors, a renovated kitchen with GRANITE countertops, and STAINLESS STEEL APPLIANCES, 3 spacious bedrooms, and 2 bathrooms that have been renovated with new vanities, light fixtures, and more. The home offers CENTRAL AC, gas heat, and public water & sewer. This extremely affordable home has taxes that are just $2,782.80 per year and the HOA dues are only $245/month and include exterior maintenance, parking, lawn care, and snow removal. The location is ideal as it's less than 5 minutes to all major highways and shopping.

5. 2021-12-03
   listed $214,900 Active 799-char remark

   Show marketing remark (799 chars)

   HIGHEST & BEST OFFERS ARE DUE 12/6 at 5PM. rare gem in this market! Live maintenance free in this END-UNIT townhouse in the Bethlehem Township community of Penn Farms. This renovated townhouse offers new windows throughout, fresh paint, new LUXURY PLANK VINYL floors, a renovated kitchen with GRANITE countertops, and STAINLESS STEEL APPLIANCES, 3 spacious bedrooms, and 2 bathrooms that have been renovated with new vanities, light fixtures, and more. The home offers CENTRAL AC, gas heat, and public water & sewer. This extremely affordable home has taxes that are just $2,782.80 per year and the HOA dues are only $245/month and include exterior maintenance, parking, lawn care, and snow removal. The location is ideal as it's less than 5 minutes to all major highways and shopping.

6. 2021-12-03
   listed $214,900 799-char remark

   Show marketing remark (799 chars)

   HIGHEST & BEST OFFERS ARE DUE 12/6 at 5PM. rare gem in this market! Live maintenance free in this END-UNIT townhouse in the Bethlehem Township community of Penn Farms. This renovated townhouse offers new windows throughout, fresh paint, new LUXURY PLANK VINYL floors, a renovated kitchen with GRANITE countertops, and STAINLESS STEEL APPLIANCES, 3 spacious bedrooms, and 2 bathrooms that have been renovated with new vanities, light fixtures, and more. The home offers CENTRAL AC, gas heat, and public water & sewer. This extremely affordable home has taxes that are just $2,782.80 per year and the HOA dues are only $245/month and include exterior maintenance, parking, lawn care, and snow removal. The location is ideal as it's less than 5 minutes to all major highways and shopping.

7. 2021-12-03
   listed $214,900 Active

   Show marketing remark (799 chars)

   HIGHEST & BEST OFFERS ARE DUE 12/6 at 5PM. rare gem in this market! Live maintenance free in this END-UNIT townhouse in the Bethlehem Township community of Penn Farms. This renovated townhouse offers new windows throughout, fresh paint, new LUXURY PLANK VINYL floors, a renovated kitchen with GRANITE countertops, and STAINLESS STEEL APPLIANCES, 3 spacious bedrooms, and 2 bathrooms that have been renovated with new vanities, light fixtures, and more. The home offers CENTRAL AC, gas heat, and public water & sewer. This extremely affordable home has taxes that are just $2,782.80 per year and the HOA dues are only $245/month and include exterior maintenance, parking, lawn care, and snow removal. The location is ideal as it's less than 5 minutes to all major highways and shopping.

8. 2021-11-29
   soldstatus $120,000
9. 2021-11-01
   soldstatus $120,000 Sold
10. 2021-10-04
    status Pending
11. 2021-10-04
    listed $120,000 Active - No Show
12. 1992-04-01
    soldstatus $74,000

ⓘ 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: $2,957 · $246/mo
• Projected year-2 tax: $3,176 · $265/mo
• Expected delta: +$219/yr (+$18/mo · 7.4%)

ⓘ 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 5/10 Major 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,427
• − Mortgage interest: −$12,038
• − Property taxes: −$2,957
• − Insurance: −$1,074
• − Repairs & maintenance: −$2,594
• − Management: −$2,594
• − HOA: −$2,940
• − Depreciation: −$6,252
• Taxable income: $1,978
• Est. tax owed @ 24.0%: −$475
• After-tax cash flow: $4,648/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 — Middletown

• Score: 80/100
• State rank: #214
• US rank: #1886

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Northampton County · 236,814 people
• City population: 23,560
• Metro: Allentown-Bethlehem-Easton, PA-NJ
• Population (ZIP): 21,204
• Household income: $126,166
• Rent vs Own: 14.2% rent · 85.8% own
• Severe rent burden: 249.0

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: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 15% Two or more races 10% Black 5% Asian 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 7% Dominican 2%
• Common ancestry: Romanian 8% Russian 2% Slovak 1%
• Foreign-born: 10% · Canada, China, Jamaica
• Languages at home: 86% English-only · Spanish 6% Other Indo-European 4% Russian/Polish/Slavic 1%

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: ▼ -240.51%
• Current HPI: 206.2873
• Rent YoY: —
• 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

+195.9% since first listed

12 events — show timeline

• 2022-01-14 Sold (MLS) $219,000 PMAR
• 2022-01-14 Sold (MLS) $219,000 GLVRMLS
• 2021-12-07 Pending — BRIGHT MLS
• 2021-12-07 Pending — GLVRMLS
• 2021-12-03 Listed $214,900 BRIGHT MLS
• 2021-12-03 Listed $214,900 PMAR
• 2021-12-03 Listed $214,900 GLVRMLS
• 2021-11-29 Sold (Public Records) $120,000 Public Records
• 2021-11-01 Sold (MLS) $120,000 GLVRMLS
• 2021-10-04 Pending — GLVRMLS
• 2021-10-04 Listed $120,000 GLVRMLS
• 1992-04-01 Sold (Public Records) $74,000 Public Records

Property tax history

+1.6%/yr

Latest (2026): $2,957 · +4.2% YoY. Source: county tax records.