37 7th St · Easton, PA 18042

$399,900

4 bd · 3.5 ba · 2,500 sqft · MultiFamily · 40 Days on market

Built 1988 Poor condition 2,112 sqft lot $160/sqft · 20% above area Est $334k · 20% over

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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 +23.9/30.0
• DSCR +7.7/10.0
• 1% rule +6.2/10.0
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• Schools +3.3/10.0
• Condition / age +1.0/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

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

Mixed Use Property * Three Apartments Plus Two Store Fronts * Long Time Owner * The Store Fronts Were Used as a Mom and Pop Selling Lottery Tickets and Cigarettes * The Other Store Front was a Hot Dog Stand * Two of the Apartments are Electric Baseboard Heat and One is Oil Heat * The Property is Completely Vacant with no Rent History * Being Sold As-Is * Buyer Responsible for CO Repairs.

Key facts

• 2,112 sq ft lot
• Built 1988
• Listed 40 days

Property features AI

Finance

• Other: Zoning: 10RMD
• Financial info: Insurance expense listed at $1,500 (multi-unit); Property taxed (annual tax amount reported)

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: 2-story building; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Lot dimensions approximately 34 x 70; Lot size about 0.048 acres

Interior

• Bedrooms: Total of 3 units (multi-family property)
• Flooring: Carpet; Hardwood
• Bathrooms: 3 full bathrooms; 1 half bathroom
• Heating & cooling: Baseboard heating; Electric heating; Oil heating; Radiator heating
• Interior features: Carpet and hardwood flooring

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath multifamily listed at $400k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $776 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $400k).
• Recommended offer: $388k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 567 units permitted in Northampton County in 2024 (151 in 5+ unit buildings).
• At $4,481/mo this rent would consume 69% of the median local household income ($78k/yr) (locally 1590% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $112k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($388k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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.

Recommended offer $387,903 (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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 1.12% ✓
• Cap rate: 8.62%
• Cash-on-cash: 8.32%
• DSCR: 1.37
• GRM: 7.4

CMA / ARV

• ARV (median comp): $334,016
• List price: $399,900
• Delta: 19.72%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
33 S 6Th St	0.20mi	5/3.0 (+1)	2,760 (+10%)	18mo	$445,000	$161	51
909 Jackson St	0.40mi	4/2.0	2,203 (-12%)	7mo	$400,000	$182	50
1304 Washington St	0.56mi	4/—	2,228 (-11%)	17mo	$385,000	$173	41
415 Spring Garden St	0.42mi	4/4.0	2,130 (-15%)	15mo	$405,000	$190	41
1311 Washington St	0.57mi	4/2.0	2,735 (+9%)	15mo	$365,000	$133	40
151 W Nesquehoning St	0.71mi	4/2.0	2,748 (+10%)	10mo	$226,000	$82	36

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: -1.5%
• Equity multiple: 0.94×
• Total profit: $-6,370
• Equity at exit: $59,626

10-year hold

• IRR: 10.2%
• Equity multiple: 1.86×
• Total profit: $96,465
• Equity at exit: $34,576

Cash invested: $111,972 (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: 22.3×

Monthly cashflow live

• Estimated rent: $4,481 high
• Mortgage (P&I): −$2,097
• Tax est. 1.5%: −$500 /mo · $5,998/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$941
• Net cashflow: $776

Break-even live

Break-even rent $3,498

Max offer price $399,900

Occupancy floor 78%

Sensitivity live

Price	-10% $1,053	-5% $915	+0% $776	+5% $638	+10% $500
Rent	-10% $422	-5% $599	+0% $776	+5% $953	+10% $1,130
Rate	-1.0pp $978	-0.5pp $878	base $776	+0.5pp $673	+1.0pp $567

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$4,482
Total (3 units)			$4,481

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
521 Ferry St Unit PENTHOUSE Easton, PA	3.0	2.0	3000	$3,200	$1.07	24d	1	0.22mi
1343 Washington St Unit 2 Easton, PA	3.0	1.0	2307	$2,000	$0.87	45d	1	0.64mi
303 W Lincoln St Easton, PA	3.0	1.0	1796	$2,175	$1.21	45d	1	0.85mi
103 Highlands Cir Easton, PA	4.0	2.5	1955	$3,400	$1.74	4d	1	1.19mi
61 Rose St Phillipsburg, NJ	4.0	1.0	2000	$2,500	$1.25	4d	1	1.21mi
220 7th St Easton, PA	3.0	2.5	2092	$2,599	$1.24	4d	1	1.22mi
221 E Burke St Easton, PA	5.0	3.5	3367	$4,250	$1.26	4d	1	1.38mi
192 Summit Ave Phillipsburg, NJ	3.0	1.0	3050	$2,300	$0.75	12d	1	1.38mi
199 Cedar Park Blvd Easton, PA	1.0–3.0	1.0–4.0	1410	$3,077	$2.18	0d	9	1.46mi
2238 Fairview Ave Easton, PA	3.0	1.0	1896	$2,350	$1.24	4d	1	1.48mi

Listing history 25 events

1. 2026-06-18
   days on market $399,900 Active 40 DOM
2. 2026-06-17
   days on market $399,900 Active 39 DOM
3. 2026-06-16
   days on market $399,900 Active 38 DOM
4. 2026-06-15
   days on market $399,900 Active 37 DOM
5. 2026-06-14
   days on market $399,900 Active 35 DOM
6. 2026-06-13
   days on market $399,900 Active 34 DOM
7. 2026-06-10
   days on market $399,900 Active 32 DOM
8. 2026-06-09
   days on market $399,900 Active 31 DOM
9. 2026-06-08
   days on market $399,900 Active 30 DOM
10. 2026-06-07
    days on market $399,900 Active 29 DOM
11. 2026-06-05
    days on market $399,900 Active 26 DOM
12. 2026-06-03
    days on market $399,900 Active 25 DOM
13. 2026-06-02
    days on market $399,900 Active 24 DOM
14. 2026-06-01
    days on market $399,900 Active 23 DOM
15. 2026-05-31
    days on market $399,900 Active 22 DOM
16. 2026-05-31
    days on market $399,900 Active 21 DOM
17. 2026-05-09
    listed $399,900 Active 406-char remark
18. 2026-05-08
    historical
19. 2026-03-16
    price $399,900
20. 2025-10-09
    listed $450,000 Active
21. 2024-04-03
    historical $1,600
22. 2024-03-13
    listed $1,600
23. 2023-12-05
    historical $1,500
24. 2023-11-29
    price $1,500
25. 2023-10-02
    listed $1,595

ⓘ 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: $53,772
• − Mortgage interest: −$22,401
• − Property taxes: −$5,998
• − Insurance: −$2,000
• − Repairs & maintenance: −$4,302
• − Management: −$4,302
• − Depreciation: −$11,633
• Taxable income: $3,136
• Est. tax owed @ 24.0%: −$753
• After-tax cash flow: $8,564/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 · 13 photos

Poor 20/100 Extensive rehab

This multi-family property requires extensive renovations and repairs to bring it up to current standards. The property is currently vacant and in poor condition, with significant work needed in the kitchen, bathrooms, flooring, exterior, and landscaping. Upgrading these areas will significantly increase its resale and rental value.

Repairs flagged

• Major Kitchen cabinets — Old cabinets need replacement or renovation
• Major Bathroom fixtures — Old fixtures need replacement or renovation
• Major Flooring — Worn carpet and outdated flooring need replacement
• Major Paint — Painted walls need fresh coats and touch-ups
• Major Exterior siding — Weathered siding needs repainting or replacement
• Major Gutters — Missing or damaged gutters need repair or replacement
• Major Windows — Old and possibly drafty windows need replacement
• Major HVAC system — No visible issues, but overall condition suggests potential mechanical issues
• Major Landscaping — Overgrown vegetation needs trimming and landscaping

Value-add opportunities

• Resale Kitchen renovation — A modern kitchen will attract more buyers and increase the property's value
• Resale Bathroom renovation — Upgraded bathrooms will attract more buyers and increase the property's value
• Resale Flooring replacement — Fresh, modern flooring will improve the property's appearance and attract more buyers
• Resale Exterior painting — A fresh coat of paint will improve the property's curb appeal and attract more buyers
• Both Landscaping — A well-maintained and landscaped yard will improve the property's curb appeal and attract more buyers and renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Old cabinets need replacement or renovation	Major	$15,000–50,000
Bathroom fixtures · Old fixtures need replacement or renovation	Major	$15,000–50,000
Flooring · Worn carpet and outdated flooring need replacement	Major	$15,000–50,000
Paint · Painted walls need fresh coats and touch-ups	Major	$15,000–50,000
Exterior siding · Weathered siding needs repainting or replacement	Major	$15,000–50,000
Gutters · Missing or damaged gutters need repair or replacement	Major	$15,000–50,000
Windows · Old and possibly drafty windows need replacement	Major	$15,000–50,000
HVAC system · No visible issues, but overall condition suggests potential mechanical issues	Major	$15,000–50,000
Landscaping · Overgrown vegetation needs trimming and landscaping	Major	$15,000–50,000
Total estimated repair cost · 9 items		$135,000–450,000

Value-add ROI direction

• Resale Kitchen renovation — A modern kitchen will attract more buyers and increase the property's value ↑
• Resale Bathroom renovation — Upgraded bathrooms will attract more buyers and increase the property's value ↑
• Resale Flooring replacement — Fresh, modern flooring will improve the property's appearance and attract more buyers ↑
• Resale Exterior painting — A fresh coat of paint will improve the property's curb appeal and attract more buyers ↑
• Both Landscaping — A well-maintained and landscaped yard will improve the property's curb appeal and attract more buyers and renters ↑

ⓘ 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: 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

+24972.1% since first listed

9 events — show timeline

• 2026-05-09 Listed $399,900 GLVRMLS
• 2026-05-08 Listing Removed — GLVRMLS
• 2026-03-16 Price Changed $399,900 GLVRMLS
• 2025-10-09 Listed $450,000 GLVRMLS
• 2024-04-03 Rental Removed $1,600 APPFOLIO
• 2024-03-13 Listed for Rent $1,600 APPFOLIO
• 2023-12-05 Rental Removed $1,500 APPFOLIO
• 2023-11-29 Price Changed $1,500 APPFOLIO
• 2023-10-02 Listed for Rent $1,595 APPFOLIO