589 Elbridge Rd · Morrisville, PA 19067

$289,000

3 bd · 1.5 ba · 1,760 sqft · SingleFamily public records · 8 Days on market

Built 1955 6,000 sqft lot $164/sqft · 19% below area Est $356k · 19% under ↓ 20% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +14.9/30.0
• 1% rule +4.8/10.0
• DSCR +4.6/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 589 Elbridge Rd! This 3 bedroom 1.5 bath is ready for your finishing touches. Cosmetic upgrades are needed but this is a great home at a great price! The main level offers an eat in kitchen that opens up to a spacious dining room. Off of the dining room you will find a bedroom and down the hall towards the back of the house you will be amazed to find not only a sizeable room that could be used for an office or den in addition to the very spacious family room. Upstairs boosts two sizable rooms and a half bath. Outside your driveway will be able to fit 2+ cars and the sizable backyard will make hosting summer events a breeze! Home is being sold as is, no repairs will be made any re

Key facts

• Sizeable room
• Sizable backyard
• Spacious dining room

Tags

• EAT IN KITCHEN
• SPACIOUS DINING ROOM
• SIZEABLE ROOM
• SPACIOUS FAMILY ROOM
• SIZABLE BACKYARD

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Electric cooling; Natural gas service
• Home design: Detached structure; Frame construction
• Construction: Frame construction; Slab foundation; Above grade and below grade structures noted
• Exterior features: Lot dimensions approximately 60 x 100; No tidal water

Interior

• Bedrooms: One bedroom on the main level; Two bedrooms on the first upper level
• Bathrooms: One full bathroom on the main level; One half bathroom on the first upper level
• Heating & cooling: Central heating; Natural gas heating; Central air conditioning (electric); Natural gas hot water
• Interior features: No basement; Living area recorded from assessor

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $289k.

Deal economics

• At list price, monthly cash flow is $84 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $283k (2.1% below list).
• Recommended offer: $283k (2.1% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 4.1% in Morrisville — 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 81/100 on livability (#174 in PA, #1,447 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, schools B+.
• Morrisville Borough SD (suburban): math 7% / reading 30% proficiency, ranked #490 of 539 in PA (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+3.1%/yr); 168 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 663 units permitted in Bucks County in 2024 (106 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Bucks County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $282,877 (2.1% below list)

Questions for the listing agent

1. Built in 1955 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 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: 0.98% ✗
• Cap rate: 6.64%
• Cash-on-cash: 1.25%
• DSCR: 1.06
• GRM: 8.5

CMA / ARV

• ARV (median comp): $355,664
• List price: $289,000
• Delta: -18.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
589 Elbridge Rd	0.00mi	3/1.5	1,760 (0%)	1mo	$255,000	$145	99
606 Fairhill Rd	0.17mi	3/2.0	1,632 (-7%)	3mo	$320,000	$196	75
596 Rosemar Dr	0.04mi	3/2.0	1,545 (-12%)	3mo	$400,000	$259	73
333 E Birch Dr	0.47mi	3/1.5	1,710 (-3%)	1mo	$475,000	$278	73
582 Elbridge Rd	0.04mi	3/2.0	1,558 (-12%)	8mo	$389,900	$250	71
101 Walnut Ln	0.54mi	3/1.5	1,848 (+5%)	0mo	$547,000	$296	66
222 Arborlea Ave	0.51mi	3/2.0	1,682 (-4%)	1mo	$690,000	$410	66
6 Carolina Ave	0.23mi	3/2.0	1,974 (+12%)	4mo	$305,000	$155	63
625 Hillcrest Ave	0.48mi	3/1.0	1,612 (-8%)	2mo	$330,000	$205	60
430 W Palmer St	0.47mi	3/1.5	1,888 (+7%)	8mo	$445,000	$236	59
708 Barclay Ave	0.48mi	3/2.0	1,513 (-14%)	2mo	$425,000	$281	50
603 Jefferson Ave	0.52mi	3/2.5	1,532 (-13%)	6mo	$395,000	$258	45

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 · 3.12% rent growth · sell at horizon

5-year hold

• IRR: -14.1%
• Equity multiple: 0.49×
• Total profit: $-40,980
• Equity at exit: $43,091

10-year hold

• IRR: -5.0%
• Equity multiple: 0.67×
• Total profit: $-26,804
• Equity at exit: $24,987

Cash invested: $80,920 (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 19067

• Rents YoY: 3.1%
• Active inventory: 168
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,829 medium
• Mortgage (P&I): −$1,516
• Tax from tax record: −$514 /mo · $6,173/yr
• Insurance: −$120
• HOA: −$0
• Vacancy / Maint / Mgmt: −$594
• Net cashflow: $84

Break-even live

Break-even rent $2,722

Max offer price $289,000

Occupancy floor 92%

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: $72,250
• Closing costs: $8,670
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
432 W Bridge St Morrisville, PA	2.0	1.0	1853	$2,000	$1.08	43d	1	0.71mi
130 Harper Ave Morrisville, PA	3.0	2.5	1276	$3,500	$2.74	12d	1	0.87mi
34 E Hendrickson Ave Morrisville, PA	3.0	1.0	1360	$2,650	$1.95	43d	1	0.91mi
250 Washington St Morrisville, PA	2.0	1.0	2371	$1,750	$0.74	44d	1	1.15mi
117 Park Ave Morrisville, PA	3.0	2.0	1396	$3,200	$2.29	12d	1	1.23mi

Listing history 3 events

1. 2026-05-03
   status Pending 761-char remark
2. 2026-04-30
   price $289,000 761-char remark
3. 2026-04-24
   listed $319,990 Active 761-char remark

ⓘ 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: $6,173 · $514/mo
• Projected year-2 tax: $6,173 · $514/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 6/10 Major 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,945
• − Mortgage interest: −$16,188
• − Property taxes: −$6,173
• − Insurance: −$1,445
• − Repairs & maintenance: −$2,716
• − Management: −$2,716
• − Depreciation: −$8,407
• Taxable loss: −$3,700
• Est. tax savings @ 24.0%: +$888
• After-tax cash flow: $1,900/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: Morrisville Borough SD
• NCES district ID: 4215900
• Math proficiency: 7% ▼ -22.00%
• Reading proficiency: 30% ▼ -18.00%
• Median HH income: $58,263
• Composite: 17.37/100
• National rank: #9075
• State rank: #490 of 539 in PA

Livability — Morrisville

• Score: 81/100
• State rank: #174
• US rank: #1447

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Morrisville, PA
• County: Bucks County · 506,477 people
• City population: 53,885
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 53,885
• Household income: $133,630
• Rent vs Own: 22.2% rent · 77.8% own
• Severe rent burden: 1036.0

Population outlook (Bucks County) Hauer SSP2

• Today (2025): 630,973 people
• By 2030: 627,093 · -0.6%
• By 2040: 609,680 · -3.4%
• By 2050: 584,225 · -7.4%
• By 2075: 539,840 · -14.4%
• By 2100: 483,970 · -23.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 7% Asian 6% Two or more races 5% Black 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Dominican 1%
• Common ancestry: Romanian 10% Scotch-Irish 2% Italian 2%
• Foreign-born: 11% · Canada, China, Jamaica
• Languages at home: 88% English-only · Spanish 5% Other Indo-European 3% Russian/Polish/Slavic 2%

Political lean MEDSL · Bucks

• 2024 margin: Toss-up / Even · D 49.5% · R 49.5%
• 2008→2024 swing: -8.7pp toward R · 2008: 8.7pp · 2024: -0.1pp
• All cycles: 2024: R+0.1 2020: D+4.4 2016: D+0.6 2012: D+1.2 2008: D+8.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -435.62%
• Current HPI: 281.8167
• Rent YoY: ▲ 3.12%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• 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

-20.3% since first listed

5 events — show timeline

• 2026-06-05 Sold (Public Records) $255,000 Public Records
• 2026-05-28 Sold (MLS) $255,000 BRIGHT MLS
• 2026-05-03 Pending — BRIGHT MLS
• 2026-04-30 Price Changed $289,000 BRIGHT MLS
• 2026-04-24 Listed $319,990 BRIGHT MLS

Property tax history

+2.1%/yr

Latest (2026): $6,173 · +1.4% YoY. Source: county tax records.