210 Clearfield St

Freemansburg, PA 18017

$175,000B+

4 bd · 1.0 ba · 878 sqft · Built 1900 · SingleFamily · Pending · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,273/mo
• Mortgage (P&I): −$918
• Tax + insurance: −$268
• HOA: −$0
• Vac / Maint / Mgmt: −$477
• Net cashflow: $610/mo
• Annual: $7,320/yr
• Cap rate: 10.48%
• Cash-on-cash: 14.94%
• DSCR: 1.66
• 1% rule: 1.30%
• Cash to close: $49,000

Investor read

• This is a 4-bed/1.0-bath single-family listed at $175k.
• At list price, monthly cash flow is $610 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#244 in PA, #2,082 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities D, commute 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.
• Zoned schools: Freemansburg El Sch (math 12% / reading 32%, grade F, #1,221 of 1,518 statewide, top 81%, 347 students, 78% FRL); Northeast Ms (math 12% / reading 47%, grade F, #385 of 512 statewide, top 76%, 725 students, 75% FRL); Liberty Hs (math 36% / reading 10%, grade F, #382 of 437 statewide, top 87%, 2,640 students, 50% FRL) — zoned schools average 67% FRL vs 43% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 25% at this address vs 40% district-wide (-15 pts) — the specific schools serving this property underperform the Bethlehem Area SD average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+2.6%/yr); 155 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 567 units permitted in Northampton County in 2024 (151 in 5+ unit buildings).
• 2 sale attempts since 19y 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.
• At projected returns (-3.0% appreciation + 2.6% rent growth), your $49k cash investment doubles in ~9 years — after that, you're playing with house money.
• 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.

Questions for listing agent

• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.
• 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.