507 Delaware Ave · Portland, PA 18351

$575,000

None bd · 4.5 ba · 4,500 sqft · MultiFamily · 48 Days on market

Built 1900 Fair condition 3,528 sqft lot $128/sqft · 5% above area Est $546k · 5% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +5.1/15.0
• Appreciation +5.0/10.0
• Schools +4.8/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Stunning turnkey investment property in Historic Portland. This beautifully maintained property offers breathtaking views of the Delaware River and walking bridge from Second fl. With all units currently rented, this income producing building features 5 units in total. 3 one bedroom apartments upstairs, a two bedroom unit on first floor and a commercial storefront occupied by a popular chocolate shop. All tenants are long-term well-established. Recent upgrades include new electrical panel boxes installed in the 3 second floor units new flooring in hall. new electric service at meter box sewer pipes in basement converted to PVC, Upgraded lighting in 2nd fl hallway, installed emergency lighting and illuminated exit signs, installed missing GFCI outlets, installed handrail on fron steps and guard rails on rear and besement steps, . Additional unit 2A was fully remodeled in 2022 and Unit 2C was remodeled as well. This property provided an excellent opportunity to add a lucrative asset to your portfolio with solid passive income and potential for growth. Property also has been approved for a facade improvement grant which may be transferred to new owner.

Key facts

• Recent upgrades
• Upgraded lighting
• Fully remodeled

Tags

• TURNKEY INVESTMENT PROPERTY
• INCOME PRODUCING BUILDING
• COMMERCIAL STOREFRONT
• RECENT UPGRADES
• UPGRADED LIGHTING
• FULLY REMODELED

What this means for you Summary

Snapshot

• This is a ?-bed/4.5-bath multifamily listed at $575k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $6k ($71k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $575k).
• Recommended offer: $558k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#587 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D, employment D, amenities F.
• Bangor Area SD (rural): math 50% / reading 60% proficiency, ranked #107 of 539 in PA (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 3 active listings in the ZIP; 567 units permitted in Northampton County in 2024 (151 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($4k loan paydown + $17k appreciation (3.0% local appreciation)).
• At projected returns (3.0% appreciation + 3.0% rent growth), your $161k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($558k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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 $450k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $557,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.17% ✓
• Cap rate: 18.61%
• Cash-on-cash: 43.98%
• DSCR: 2.96
• GRM: 3.8

CMA / ARV

• ARV (median comp): $545,874
• List price: $575,000
• Delta: 5.34%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 49.3%
• Equity multiple: 3.77×
• Total profit: $445,313
• Equity at exit: $258,545

10-year hold

• IRR: 49.0%
• Equity multiple: 7.58×
• Total profit: $1,058,871
• Equity at exit: $398,449

Cash invested: $161,000 (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 18351

• Active inventory: 3
• Price-to-rent: 19.2×

Monthly cashflow live

• Estimated rent: $12,500 medium
• Mortgage (P&I): −$3,015
• Tax est. 1.5%: −$719 /mo · $8,625/yr
• Insurance: −$240
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,625
• Net cashflow: $5,901

Break-even live

Break-even rent $5,030

Max offer price $575,000

Occupancy floor 48%

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$7,500
1× unit	2	1	$2,500
1× unit	0	0	$2,500
Total (5 units)			$12,500

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: $143,750
• Closing costs: $17,250
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $575,000 Active 48 DOM
2. 2026-06-17
   days on market $575,000 Active 47 DOM
3. 2026-06-16
   days on market $575,000 Active 46 DOM
4. 2026-06-15
   days on market $575,000 Active 45 DOM
5. 2026-06-14
   days on market $575,000 Active 43 DOM
6. 2026-06-13
   days on market $575,000 Active 42 DOM
7. 2026-06-10
   days on market $575,000 Active 40 DOM
8. 2026-06-09
   days on market $575,000 Active 39 DOM
9. 2026-06-08
   days on market $575,000 Active 38 DOM
10. 2026-06-07
    pricedays on market $575,000 Active 37 DOM
11. 2026-06-03
    days on market $599,000 Active 33 DOM
12. 2026-06-02
    days on market $599,000 Active 32 DOM
13. 2026-06-01
    days on market $599,000 Active 31 DOM
14. 2026-05-31
    days on market $599,000 Active 30 DOM
15. 2026-05-31
    days on market $599,000 Active 29 DOM
16. 2026-04-30
    listed $599,000 Active 1167-char remark

    Show marketing remark (1167 chars)

    Stunning turnkey investment property in Historic Portland. This beautifully maintained property offers breathtaking views of the Delaware River and walking bridge from Second fl. With all units currently rented, this income producing building features 5 units in total. 3 one bedroom apartments upstairs, a two bedroom unit on first floor and a commercial storefront occupied by a popular chocolate shop. All tenants are long-term well-established. Recent upgrades include new electrical panel boxes installed in the 3 second floor units new flooring in hall. new electric service at meter box sewer pipes in basement converted to PVC, Upgraded lighting in 2nd fl hallway, installed emergency lighting and illuminated exit signs, installed missing GFCI outlets, installed handrail on fron steps and guard rails on rear and besement steps, . Additional unit 2A was fully remodeled in 2022 and Unit 2C was remodeled as well. This property provided an excellent opportunity to add a lucrative asset to your portfolio with solid passive income and potential for growth. Property also has been approved for a facade improvement grant which may be transferred to new owner.

17. 2025-02-27
    soldstatus $450,000 Closed 783-char remark

    Show marketing remark (783 chars)

    Stunning Turnkey Investment Property in Historic Portland This beautifully maintained property offers breathtaking views of the Delaware River and the walking bridge from the second floor. With all units currently rented, this income-producing building features five units in total: three one-bedroom apartments upstairs, a two-bedroom unit on the first floor, and a commercial storefront occupied by a popular chocolate shop. All tenants are long-term and well-established. Recent upgrades include new electrical panel boxes installed in the three upstairs units. Additionally, Unit 2A was fully remodeled in 2022, and Unit 2C underwent renovations when purchased. This property provides an excellent opportunity to add a lucrative asset to your portfolio. Schedule a showing today!

18. 2025-02-27
    soldstatus $450,000 Sold

    Show marketing remark (783 chars)

    Stunning Turnkey Investment Property in Historic Portland This beautifully maintained property offers breathtaking views of the Delaware River and the walking bridge from the second floor. With all units currently rented, this income-producing building features five units in total: three one-bedroom apartments upstairs, a two-bedroom unit on the first floor, and a commercial storefront occupied by a popular chocolate shop. All tenants are long-term and well-established. Recent upgrades include new electrical panel boxes installed in the three upstairs units. Additionally, Unit 2A was fully remodeled in 2022, and Unit 2C underwent renovations when purchased. This property provides an excellent opportunity to add a lucrative asset to your portfolio. Schedule a showing today!

19. 2025-01-08
    status Pending 783-char remark

    Show marketing remark (783 chars)

    Stunning Turnkey Investment Property in Historic Portland This beautifully maintained property offers breathtaking views of the Delaware River and the walking bridge from the second floor. With all units currently rented, this income-producing building features five units in total: three one-bedroom apartments upstairs, a two-bedroom unit on the first floor, and a commercial storefront occupied by a popular chocolate shop. All tenants are long-term and well-established. Recent upgrades include new electrical panel boxes installed in the three upstairs units. Additionally, Unit 2A was fully remodeled in 2022, and Unit 2C underwent renovations when purchased. This property provides an excellent opportunity to add a lucrative asset to your portfolio. Schedule a showing today!

20. 2025-01-08
    status Pending

    Show marketing remark (783 chars)

    Stunning Turnkey Investment Property in Historic Portland This beautifully maintained property offers breathtaking views of the Delaware River and the walking bridge from the second floor. With all units currently rented, this income-producing building features five units in total: three one-bedroom apartments upstairs, a two-bedroom unit on the first floor, and a commercial storefront occupied by a popular chocolate shop. All tenants are long-term and well-established. Recent upgrades include new electrical panel boxes installed in the three upstairs units. Additionally, Unit 2A was fully remodeled in 2022, and Unit 2C underwent renovations when purchased. This property provides an excellent opportunity to add a lucrative asset to your portfolio. Schedule a showing today!

21. 2024-12-23
    listed $485,000 Active 783-char remark

    Show marketing remark (783 chars)

    Stunning Turnkey Investment Property in Historic Portland This beautifully maintained property offers breathtaking views of the Delaware River and the walking bridge from the second floor. With all units currently rented, this income-producing building features five units in total: three one-bedroom apartments upstairs, a two-bedroom unit on the first floor, and a commercial storefront occupied by a popular chocolate shop. All tenants are long-term and well-established. Recent upgrades include new electrical panel boxes installed in the three upstairs units. Additionally, Unit 2A was fully remodeled in 2022, and Unit 2C underwent renovations when purchased. This property provides an excellent opportunity to add a lucrative asset to your portfolio. Schedule a showing today!

22. 2024-12-22
    listed $485,000 Active

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

Taxation est. · year 1

• Rental income: $150,000
• − Mortgage interest: −$32,209
• − Property taxes: −$8,625
• − Insurance: −$2,875
• − Repairs & maintenance: −$12,000
• − Management: −$12,000
• − Depreciation: −$16,727
• Taxable income: $65,564
• Est. tax owed @ 24.0%: −$15,735
• After-tax cash flow: $55,080/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate renovations to improve its condition and appeal. Upgrades to the kitchen, bathrooms, and flooring would significantly enhance its resale and rental value.

Repairs flagged

• Moderate kitchen cabinets — Cabinets appear worn and need updating
• Moderate bathroom fixtures — Fixtures appear old and need replacement
• Moderate flooring — Carpeted flooring in living areas needs replacement

Value-add opportunities

• Both Painting and updating kitchen cabinets — Improves appearance and functionality
• Both Upgrading bathroom fixtures — Enhances functionality and appeal
• Both Replacing carpeted flooring — Improves comfort and appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · Cabinets appear worn and need updating	Moderate	$3,000–15,000
bathroom fixtures · Fixtures appear old and need replacement	Moderate	$3,000–15,000
flooring · Carpeted flooring in living areas needs replacement	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$9,000–45,000

Value-add ROI direction

• Both Painting and updating kitchen cabinets — Improves appearance and functionality ↑
• Both Upgrading bathroom fixtures — Enhances functionality and appeal ↑
• Both Replacing carpeted flooring — Improves comfort and appearance ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Bangor Area SD
• NCES district ID: 4203000
• Math proficiency: 50% ▲ 1.00%
• Reading proficiency: 60% ▼ -5.00%
• Median HH income: $57,818
• Composite: 47.64/100
• National rank: #2250
• State rank: #107 of 539 in PA

Livability — Portland

• Score: 73/100
• State rank: #587
• US rank: #5620

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Portland, PA
• City population: 695
• Population (ZIP): 695

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 24% Two or more races 4%
• Hispanic origin (detail): Puerto Rican 23%
• Common ancestry: Romanian 1% Iranian 1% Slovak 1%
• Foreign-born: 5% · Canada
• Languages at home: 80% English-only · Spanish 15% Russian/Polish/Slavic 4%

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: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

+23.5% since first listed

7 events — show timeline

• 2026-04-30 Listed $599,000 PMAR
• 2025-02-27 Sold (MLS) $450,000 GLVRMLS
• 2025-02-27 Sold (MLS) $450,000 PMAR
• 2025-01-08 Pending — PMAR
• 2025-01-08 Pending — GLVRMLS
• 2024-12-23 Listed $485,000 PMAR
• 2024-12-22 Listed $485,000 GLVRMLS