1238 Lehigh St · Easton, PA 18042

$195,000

3 bd · 2.0 ba · 1,765 sqft · Townhouse public records

Built 1900 2,160 sqft lot Est $279k · 30% under

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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 +21.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• 1% rule +6.1/10.0
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Short Sale. Sold before processing

Key facts

• 2 garage spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $195k.

Deal economics

• At list price, monthly cash flow is $307 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Cap rate 8.2% vs local median 4.2% in Easton — 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 84/100 on livability (#92 in PA, #667 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools C-.
• Easton Area SD (suburban): math 31% / reading 44% proficiency, ranked #364 of 539 in PA (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.9%/yr); 185 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 567 units permitted in Northampton County in 2024 (151 in 5+ unit buildings).
• This rent runs 34% of the median local income ($78k/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 $6k of value loss. Plan a longer hold.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 6y 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 $138k; 41% 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.
• 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 $195,000

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. 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.
4. 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.
5. 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: 1.11% ✓
• Cap rate: 8.18%
• Cash-on-cash: 6.75%
• DSCR: 1.30
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $278,870
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1242 Ferry St	0.10mi	3/1.5	1,740 (-1%)	1mo	$226,000	$130	90
200 11th St	0.40mi	3/2.0	1,800 (+2%)	3mo	$350,000	$194	75
1105 Lehigh St	0.16mi	3/1.0	1,603 (-9%)	3mo	$250,000	$156	71
136 S 8th St	0.43mi	3/2.0	1,841 (+4%)	2mo	$375,000	$204	71
34 S 13th St	0.15mi	4/2.0 (+1)	1,941 (+10%)	2mo	$230,000	$118	70
1805 Fairview Ave	0.50mi	3/1.5	1,718 (-3%)	2mo	$292,000	$170	68
905 Bushkill St	0.55mi	3/1.5	1,672 (-5%)	2mo	$265,000	$158	62
404 Centre St	0.65mi	3/2.0	1,624 (-8%)	0mo	$255,000	$157	56
119 N 7th St	0.64mi	4/1.0 (+1)	1,700 (-4%)	0mo	$270,000	$159	54
714 W Berwick St	0.70mi	2/2.0 (-1)	1,670 (-5%)	2mo	$300,000	$180	52
531 W Berwick St	0.73mi	3/2.0	1,583 (-10%)	2mo	$210,000	$133	47
1033 W Berwick St	0.64mi	3/1.0	1,583 (-10%)	2mo	$200,000	$126	47

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 · 4.94% rent growth · sell at horizon

5-year hold

• IRR: -3.7%
• Equity multiple: 0.86×
• Total profit: $-7,647
• Equity at exit: $29,075

10-year hold

• IRR: 8.2%
• Equity multiple: 1.68×
• Total profit: $37,252
• Equity at exit: $16,860

Cash invested: $54,600 (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 18042

• Rents YoY: 4.9%
• Active inventory: 185
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,170 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$303 /mo · $3,642/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$456
• Net cashflow: $307

Break-even live

Break-even rent $1,781

Max offer price $195,000

Occupancy floor 81%

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1343 Washington St Unit 2 Easton, PA	3.0	1.0	2307	$2,000	$0.87	43d	1	0.12mi
1251 Northampton St #1 Easton, PA	2.0	1.0	2035	$1,475	$0.72	23d	1	0.25mi
122 N 13th St Easton, PA	4.0	3.0	1736	$2,300	$1.32	2d	1	0.34mi
1616 Ferry St Unit 2 Easton, PA	3.0	1.0	1316	$1,700	$1.29	2d	1	0.41mi
35 N 9th St Easton, PA	4.0	2.0	1512	$2,250	$1.49	2d	1	0.45mi
137 S 17th St Easton, PA	2.0	1.0	1940	$1,550	$0.80	2d	1	0.45mi
912 Spring Garden St Easton, PA	4.0	2.0	1534	$2,400	$1.56	43d	1	0.46mi
204 N 9th St Easton, PA	3.0	1.0	1450	$1,900	$1.31	2d	1	0.51mi
909 Jackson St Unit 2 Easton, PA	3.0	1.0	1300	$2,350	$1.81	43d	1	0.60mi
142 S Union St Easton, PA	3.0	2.0	1300	$1,895	$1.46	43d	1	0.64mi
623 Walnut St Unit C2 Easton, PA	2.0	2.5	1500	$2,300	$1.53	43d	1	0.65mi
623 Walnut St Unit A2 Easton, PA	2.0	2.0	1500	$2,250	$1.50	23d	1	0.65mi
40 S 6th St Easton, PA	1.0–2.0	1.0–2.0	1156	$3,000	$2.59	14d	11	0.71mi
220 7th St Easton, PA	3.0	2.5	2092	$2,599	$1.24	2d	1	0.72mi
2001 Ferry St Easton, PA	3.0	1.0	1440	$2,200	$1.53	43d	1	0.75mi
276 W Saint Joseph St Easton, PA	3.0	1.5	1315	$1,700	$1.29	43d	1	0.83mi
2118 Northampton St Unit 1 Easton, PA	2.0	1.0	1240	$1,595	$1.29	23d	1	0.90mi
2125 Northampton St Easton, PA	3.0	1.0	1440	$2,000	$1.39	14d	1	0.92mi
2248 Birch St Easton, PA	3.0	1.5	1425	$1,850	$1.30	43d	1	0.92mi
303 W Lincoln St Easton, PA	3.0	1.0	1796	$2,175	$1.21	43d	1	0.97mi
322 Saint John St Easton, PA	3.0	1.5	1583	$1,895	$1.20	43d	1	0.98mi
2238 Fairview Ave Easton, PA	3.0	1.0	1896	$2,350	$1.24	2d	1	1.00mi
2406 Birch St Easton, PA	3.0	1.5	1265	$2,300	$1.82	2d	1	1.02mi
2406 Birch St Easton, PA	3.0	1.5	1265	$2,300	$1.82	14d	1	1.02mi
2242 Ferry St Easton, PA	3.0	1.5	2202	$2,200	$1.00	2d	1	1.03mi
1065 Bushkill Dr Easton, PA	3.0	1.5	1250	$2,500	$2.00	43d	1	1.03mi
2434 Birch St Easton, PA	3.0	1.0	1294	$1,900	$1.47	2d	1	1.07mi
214 Spring Garden St Unit 2B Easton, PA	2.0	1.0	1250	$2,995	$2.40	21d	1	1.08mi
312 Lehigh Dr Easton, PA	3.0	1.5	1664	$3,250	$1.95	2d	1	1.09mi
2246 2nd St Easton, PA	3.0	1.5	1449	$2,150	$1.48	2d	1	1.10mi
2306 3rd St Easton, PA	3.0	1.0	1240	$2,000	$1.61	14d	1	1.11mi
40 Hillside Ct S Easton, PA	3.0	2.5	2016	$2,800	$1.39	2d	1	1.23mi
2474 Lincoln Ave Easton, PA	3.0	1.0	1500	$1,800	$1.20	43d	1	1.27mi
49 N Delaware Dr Unit 3rd Floor Easton, PA	2.0	1.0	1500	$2,495	$1.66	18d	1	1.36mi
103 Highlands Cir Easton, PA	4.0	2.5	1955	$3,400	$1.74	2d	1	1.41mi

Listing history 15 events

1. 2026-05-20
   historical
2. 2026-05-20
   listed $195,000
3. 2026-01-15
   historical
4. 2025-12-10
   price $75,000
5. 2025-12-10
   historical Active Under Contract
6. 2025-11-25
   listed $100,000 Active
7. 2025-09-24
   price $239,900
8. 2025-09-15
   price $239,900
9. 2025-08-04
   listed $249,900 Active
10. 2025-08-02
    listed $249,900 Active
11. 2020-12-11
    soldstatus $138,000
12. 2020-12-04
    soldstatus $138,000 Sold
13. 2020-10-05
    status Pending
14. 2020-09-16
    listed $140,000 Active
15. 2008-01-07
    soldstatus $106,500

ⓘ 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: $3,642 · $303/mo
• Projected year-2 tax: $3,642 · $303/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 15% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,043
• − Mortgage interest: −$10,923
• − Property taxes: −$3,642
• − Insurance: −$975
• − Repairs & maintenance: −$2,083
• − Management: −$2,083
• − Depreciation: −$5,673
• Taxable income: $664
• Est. tax owed @ 24.0%: −$159
• After-tax cash flow: $3,527/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: Easton Area SD
• NCES district ID: 4208850
• Math proficiency: 31% ▼ -2.00%
• Reading proficiency: 44% ▼ -11.00%
• Median HH income: $61,390
• Composite: 33.46/100
• National rank: #5457
• State rank: #364 of 539 in PA

Livability — Easton

• Score: 84/100
• State rank: #92
• US rank: #667

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Easton, PA
• County: Northampton County · 236,814 people
• City population: 75,961
• Metro: Allentown-Bethlehem-Easton, PA-NJ
• Population (ZIP): 45,532
• Household income: $77,556
• Rent vs Own: 45.0% rent · 55.0% own
• Severe rent burden: 1590.0

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 0.61)
• Race & ethnicity: White 57% Hispanic / Latino 21% Black 12% Two or more races 12% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 7% Dominican 3%
• Common ancestry: Romanian 3% Polish 2% Iranian 1%
• Foreign-born: 13% · Canada, China, Jamaica
• Languages at home: 80% English-only · Spanish 15% Other Indo-European 1% Arabic 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: ▼ -460.52%
• Current HPI: 254.8776
• Rent YoY: ▲ 4.94%
• 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

+83.1% since first listed

15 events — show timeline

• 2026-05-20 Listed $195,000 GLVRMLS
• 2026-05-20 Listing Removed — GLVRMLS
• 2026-01-15 Listing Removed — BRIGHT MLS
• 2025-12-10 Price Changed $75,000 BRIGHT MLS
• 2025-12-10 Contingent — BRIGHT MLS
• 2025-11-25 Listed $100,000 BRIGHT MLS
• 2025-09-24 Price Changed $239,900 PMAR
• 2025-09-15 Price Changed $239,900 GLVRMLS
• 2025-08-04 Listed $249,900 PMAR
• 2025-08-02 Listed $249,900 GLVRMLS
• 2020-12-11 Sold (Public Records) $138,000 Public Records
• 2020-12-04 Sold (MLS) $138,000 GLVRMLS
• 2020-10-05 Pending — GLVRMLS
• 2020-09-16 Listed $140,000 GLVRMLS
• 2008-01-07 Sold (Public Records) $106,500 Public Records

Property tax history

+1.3%/yr

Latest (2026): $3,642 · +2.3% YoY. Source: county tax records.