501 Pennsylvania Ave · Portland, PA 18351

$329,900

5 bd · 2.0 ba · 2,500 sqft · MultiFamily · 13 Days on market

Built 1860 0.32 ac lot $132/sqft · 23% above area Est $268k · 23% 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
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• Appreciation +5.0/10.0
• Schools +4.8/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Multi-family units

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

Listing remarks MLS

This home is full of character and awaiting your extended family. This home offers a true mother-daughter or will accommodate a large family. Located in the heart of Portland on a corner lot that has a fenced in backyard with a new patio with firepit. Great for the kids, pets or family gatherings. Home offers first floor living with (3) bedrooms, full bath, living room and huge kitchen with formal dining area. There is a separate staircase that accesses the upstairs living area. This area also has a private entrance if needed. Upstairs offers a full kitchen, living room, and (2) bedrooms! Both floors offer 10 ft ceilings and original bannisters and plaster walls. Covered porches (2), patio and amazing yard make outside entertaining perfect! Newer upgrades include, (2) year old furnace, roof 2023, replacement windows, blown in insulation, reverse osmosis water system, paved driveway and lots more. Walk to town and enjoy the views of the Delaware Water Gap from the walk bridge or the convivences of town. Rt 80 is 1 mile making this an easy commute to anywhere! This home offers a lot of potential as it has been well maintained and has lots of space to make it your own!!

Key facts

• New patio
• Firepit
• Fenced in backyard

Tags

• CORNER LOT
• FENCED IN BACKYARD
• NEW PATIO
• FIREPIT
• FIRST FLOOR LIVING
• SEPARATE STAIRCASE

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $330k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $330k).

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 $12k of equity ($2k loan paydown + $10k appreciation (3.0% local appreciation)).
• At projected returns (3.0% appreciation + 3.0% rent growth), your $92k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 13 sale attempts since 25y 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 $100k; list at $330k implies a 230% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1860 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $329,900

Questions for the listing agent

1. Built in 1860 — 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 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?
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: 1.45% ✓
• Cap rate: 11.77%
• Cash-on-cash: 19.56%
• DSCR: 1.87
• GRM: 5.7

CMA / ARV

• ARV (median comp): $267,799
• List price: $329,900
• Delta: 23.19%
• Verdict: OVERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 25.9%
• Equity multiple: 2.47×
• Total profit: $135,720
• Equity at exit: $148,337

10-year hold

• IRR: 26.6%
• Equity multiple: 4.78×
• Total profit: $348,891
• Equity at exit: $228,606

Cash invested: $92,372 (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: 22.9×

Monthly cashflow live

• Estimated rent: $4,792 medium
• Mortgage (P&I): −$1,730
• Tax est. 1.5%: −$412 /mo · $4,948/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,006
• Net cashflow: $1,506

Break-even live

Break-even rent $2,886

Max offer price $329,900

Occupancy floor 64%

Sensitivity live

Price	-10% $1,734	-5% $1,620	+0% $1,506	+5% $1,392	+10% $1,278
Rent	-10% $1,127	-5% $1,317	+0% $1,506	+5% $1,695	+10% $1,884
Rate	-1.0pp $1,672	-0.5pp $1,590	base $1,506	+0.5pp $1,420	+1.0pp $1,333

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$4,792
Total (4 units)			$4,792

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: $82,475
• Closing costs: $9,897
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-05-04
   status Pending 1185-char remark

   Show marketing remark (1185 chars)

   This home is full of character and awaiting your extended family. This home offers a true mother-daughter or will accommodate a large family. Located in the heart of Portland on a corner lot that has a fenced in backyard with a new patio with firepit. Great for the kids, pets or family gatherings. Home offers first floor living with (3) bedrooms, full bath, living room and huge kitchen with formal dining area. There is a separate staircase that accesses the upstairs living area. This area also has a private entrance if needed. Upstairs offers a full kitchen, living room, and (2) bedrooms! Both floors offer 10 ft ceilings and original bannisters and plaster walls. Covered porches (2), patio and amazing yard make outside entertaining perfect! Newer upgrades include, (2) year old furnace, roof 2023, replacement windows, blown in insulation, reverse osmosis water system, paved driveway and lots more. Walk to town and enjoy the views of the Delaware Water Gap from the walk bridge or the convivences of town. Rt 80 is 1 mile making this an easy commute to anywhere! This home offers a lot of potential as it has been well maintained and has lots of space to make it your own!!

2. 2026-04-20
   historical
3. 2026-04-19
   price $329,000
4. 2026-04-14
   listed $329,900 Active 1185-char remark

   Show marketing remark (1185 chars)

   This home is full of character and awaiting your extended family. This home offers a true mother-daughter or will accommodate a large family. Located in the heart of Portland on a corner lot that has a fenced in backyard with a new patio with firepit. Great for the kids, pets or family gatherings. Home offers first floor living with (3) bedrooms, full bath, living room and huge kitchen with formal dining area. There is a separate staircase that accesses the upstairs living area. This area also has a private entrance if needed. Upstairs offers a full kitchen, living room, and (2) bedrooms! Both floors offer 10 ft ceilings and original bannisters and plaster walls. Covered porches (2), patio and amazing yard make outside entertaining perfect! Newer upgrades include, (2) year old furnace, roof 2023, replacement windows, blown in insulation, reverse osmosis water system, paved driveway and lots more. Walk to town and enjoy the views of the Delaware Water Gap from the walk bridge or the convivences of town. Rt 80 is 1 mile making this an easy commute to anywhere! This home offers a lot of potential as it has been well maintained and has lots of space to make it your own!!

5. 2026-04-12
   listed $325,000 Active
6. 2023-03-22
   historical
7. 2023-03-14
   status Active
8. 2023-03-01
   historical Contingent (Show)
9. 2023-02-25
   listed $235,000 Active
10. 2016-04-26
    soldstatus $99,900 Sold
11. 2016-04-04
    status Pending
12. 2016-01-26
    price $99,900
13. 2016-01-20
    price $110,900
14. 2016-01-20
    price $118,900
15. 2016-01-04
    price $119,900
16. 2015-12-18
    price $124,400
17. 2015-12-05
    listed $125,400 Active
18. 2015-05-14
    listed $98,900
19. 2015-03-12
    listed $113,900
20. 2013-07-16
    listed $115,900
21. 2011-02-18
    listed $115,900
22. 2005-10-01
    historical
23. 2005-09-30
    historical
24. 2005-06-02
    listed $187,000
25. 2005-06-02
    listed $187,000
26. 2005-06-02
    listed $187,000
27. 2001-10-02
    historical
28. 2001-08-15
    listed $159,900

ⓘ 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: $57,504
• − Mortgage interest: −$18,480
• − Property taxes: −$4,948
• − Insurance: −$1,650
• − Repairs & maintenance: −$4,600
• − Management: −$4,600
• − Depreciation: −$9,597
• Taxable income: $13,629
• Est. tax owed @ 24.0%: −$3,271
• After-tax cash flow: $14,799/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: 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

+105.8% since first listed

28 events — show timeline

• 2026-05-04 Pending — GLVRMLS
• 2026-04-20 Listing Removed — GLVRMLS
• 2026-04-19 Price Changed $329,000 GLVRMLS
• 2026-04-14 Listed $329,900 GLVRMLS
• 2026-04-12 Listed $325,000 GLVRMLS
• 2023-03-22 Listing Removed — GLVRMLS
• 2023-03-14 Relisted — GLVRMLS
• 2023-03-01 Contingent — GLVRMLS
• 2023-02-25 Listed $235,000 GLVRMLS
• 2016-04-26 Sold (MLS) $99,900 GLVRMLS
• 2016-04-04 Pending — GLVRMLS
• 2016-01-26 Price Changed $99,900 GLVRMLS
• 2016-01-20 Price Changed $110,900 GLVRMLS
• 2016-01-20 Price Changed $118,900 GLVRMLS
• 2016-01-04 Price Changed $119,900 GLVRMLS
• 2015-12-18 Price Changed $124,400 GLVRMLS
• 2015-12-05 Listed $125,400 GLVRMLS
• 2015-05-14 Listed $98,900 PMAR
• 2015-03-12 Listed $113,900 PMAR
• 2013-07-16 Listed $115,900 PMAR
• 2011-02-18 Listed $115,900 PMAR
• 2005-10-01 Listing Removed — GLVRMLS
• 2005-09-30 Listing Removed — BRIGHT MLS
• 2005-06-02 Listed $187,000 BRIGHT MLS
• 2005-06-02 Listed $187,000 GLVRMLS
• 2005-06-02 Listed $187,000 PMAR
• 2001-10-02 Listing Removed — GLVRMLS
• 2001-08-15 Listed $159,900 GLVRMLS