1117 W Turner St · Allentown, PA 18102

$360,000

5 bd · 3.0 ba · 2,426 sqft · MultiFamily public records · 37 Days on market

Built 1898 Est $337k · 7% 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 +27.1/30.0
• DSCR +9.4/10.0
• 1% rule +6.6/10.0
• ARV discount +4.5/15.0
• Livability +4.0/5.0
• Rent growth +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

This is a three unit three floor building. All are one bedrooms. However , first floor is 5 rms & amp; bath. Second floor is 4rms & amp; bath. Third flr is 3rms & amp; bath. Private courtyard area for first floor. washer dryer hookup in basement. there are two off street parking spaces. Currently split between 1st & amp; 2nd flr. Additional Info & amp; Pictures to follow.

Key facts

• Washer dryer hookup
• Listed 37 days

Tags

• PRIVATE COURTYARD AREA
• WASHER DRYER HOOKUP
• OFF STREET PARKING SPACES

What this means for you Summary

Snapshot

• This is a 3 × 1-bed/1.0-bath units multifamily listed at $360k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $338/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $360k).
• Recommended offer: $349k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 5.3% in Allentown — 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 (#171 in PA, #1,440 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, employment D.
• Allentown City SD (urban): math 10% / reading 20% proficiency, ranked #513 of 539 in PA (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.5%/yr); 167 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 765 units permitted in Lehigh County in 2024 (286 in 5+ unit buildings).
• At $4,172/mo this rent would consume 116% of the median local household income ($43k/yr) (locally 4313% 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 $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Lehigh County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 5.5% rent growth), your $101k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($349k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 21y 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 $94k; list at $360k implies a 285% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1898 — 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 $349,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1898 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.16% ✓
• Cap rate: 9.67%
• Cash-on-cash: 12.07%
• DSCR: 1.54
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $337,214
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1326 W Turner St E	0.24mi	5/—	2,475 (+2%)	6mo	$180,000	$73	80
1337 W Chew St	0.29mi	5/3.0	2,439 (+0%)	20mo	$285,000	$117	69
115 S Jefferson St	0.39mi	5/3.0	2,412 (-1%)	16mo	$372,000	$154	68
944 W Walnut St	0.39mi	6/— (+1)	2,478 (+2%)	8mo	$320,000	$129	67
18 N Madison St	0.31mi	5/—	2,474 (+2%)	20mo	$360,000	$146	66
503 N 10Th St	0.34mi	5/2.0	2,412 (-1%)	20mo	$220,000	$91	62
102 S 13th St	0.39mi	5/5.0	2,392 (-1%)	11mo	$420,000	$176	62
306 N 14Th St	0.33mi	5/3.0	2,284 (-6%)	21mo	$320,000	$140	57
18 S 13Th St	0.33mi	4/2.0 (-1)	2,404 (-1%)	22mo	$290,000	$121	56
519 N 6th St	0.70mi	6/3.0 (+1)	2,448 (+1%)	10mo	$340,000	$139	53
935 W Tilghman St	0.54mi	4/2.0 (-1)	2,450 (+1%)	15mo	$290,000	$118	52
537 W Liberty St	0.69mi	4/3.0 (-1)	2,584 (+6%)	24mo	$385,000	$149	32

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 · 5.48% rent growth · sell at horizon

5-year hold

• IRR: 4.2%
• Equity multiple: 1.17×
• Total profit: $16,830
• Equity at exit: $53,677

10-year hold

• IRR: 15.8%
• Equity multiple: 2.42×
• Total profit: $143,589
• Equity at exit: $31,126

Cash invested: $100,800 (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 18102

• Rents YoY: 5.5%
• Active inventory: 167
• Price-to-rent: 21.6×

Monthly cashflow live

• Estimated rent: $4,172 high
• Mortgage (P&I): −$1,888
• Tax from tax record: −$244 /mo · $2,932/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$876
• Net cashflow: $1,014

Break-even live

Break-even rent $2,889

Max offer price $360,000

Occupancy floor 71%

Sensitivity live

Price	-10% $1,217	-5% $1,116	+0% $1,014	+5% $912	+10% $810
Rent	-10% $684	-5% $849	+0% $1,014	+5% $1,178	+10% $1,343
Rate	-1.0pp $1,195	-0.5pp $1,105	base $1,014	+0.5pp $920	+1.0pp $825

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$4,173
Total (3 units)			$4,172

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: $90,000
• Closing costs: $10,800
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1315 Chew St Allentown, PA	5.0	2.5	2811	$2,850	$1.01	44d	1	0.24mi
1341 Chew St Allentown, PA	5.0	1.5	2139	$2,500	$1.17	22d	1	0.29mi
36 S Jefferson St Allentown, PA	5.0	1.5	2128	$2,500	$1.17	15d	1	0.34mi
948 W Maple St Allentown, PA	4.0	1.0	1932	$2,300	$1.19	44d	1	0.34mi
828 W Gordon St Allentown, PA	4.0	2.5	1628	$2,250	$1.38	3d	1	0.36mi
626 N 11th St Allentown, PA	4.0	1.5	1642	$2,200	$1.34	3d	1	0.43mi
41 S Franklin St Allentown, PA	5.0	2.0	1897	$2,500	$1.32	15d	1	0.47mi
1538 Chew St Allentown, PA	5.0	1.0	1874	$2,800	$1.49	19d	1	0.51mi
138 S 14th St Allentown, PA	5.0	1.0	2300	$2,300	$1.00	15d	1	0.52mi
216 S 14th St Allentown, PA	4.0	1.5	1640	$2,300	$1.40	3d	1	0.55mi
631 W Allen St Allentown, PA	5.0	1.5	1695	$2,100	$1.24	44d	1	0.65mi
622 Park St Allentown, PA	5.0	1.5	1638	$2,300	$1.40	3d	1	0.68mi
738 W Cedar St Allentown, PA	5.0	1.5	1900	$2,500	$1.32	44d	1	0.77mi
389 W Turner St Allentown, PA	4.0	1.5	2144	$2,400	$1.12	3d	1	0.90mi
213 Chew St Allentown, PA	5.0	1.0	1725	$2,100	$1.22	44d	1	1.13mi
1304 N 4th St Allentown, PA	5.0	2.0	1891	$2,900	$1.53	44d	1	1.21mi
111 Ridge Ave Allentown, PA	4.0	1.0	1658	$1,650	$1.00	44d	1	1.28mi
164 W Tilghman St Allentown, PA	5.0	2.0	1801	$2,250	$1.25	24d	1	1.32mi
630 N Front St Allentown, PA	4.0	1.0	1912	$1,900	$0.99	24d	1	1.44mi

Listing history 19 events

1. 2026-06-18
   days on market $360,000 Active 37 DOM
2. 2026-06-17
   days on market $360,000 Active 36 DOM
3. 2026-06-16
   days on market $360,000 Active 35 DOM
4. 2026-06-15
   days on market $360,000 Active 34 DOM
5. 2026-06-14
   days on market $360,000 Active 32 DOM
6. 2026-06-10
   days on market $360,000 Active 29 DOM
7. 2026-06-09
   days on market $360,000 Active 28 DOM
8. 2026-06-08
   days on market $360,000 Active 27 DOM
9. 2026-06-07
   days on market $360,000 Active 26 DOM
10. 2026-06-03
    days on market $360,000 Active 22 DOM
11. 2026-06-02
    days on market $360,000 Active 21 DOM
12. 2026-06-01
    days on market $360,000 Active 20 DOM
13. 2026-05-31
    days on market $360,000 Active 19 DOM
14. 2026-05-31
    days on market $360,000 Active 18 DOM
15. 2026-05-12
    listed $360,000 Active 379-char remark
16. 2006-01-31
    historical
17. 2005-12-13
    listed $179,900
18. 1993-07-01
    soldstatus $93,500
19. 1989-10-27
    soldstatus $77,000

ⓘ 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: $2,932 · $244/mo
• Projected year-2 tax: $4,310 · $359/mo
• Expected delta: +$1,378/yr (+$115/mo · 47.0%)

ⓘ 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 16% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $50,064
• − Mortgage interest: −$20,166
• − Property taxes: −$2,932
• − Insurance: −$1,800
• − Repairs & maintenance: −$4,005
• − Management: −$4,005
• − Depreciation: −$10,473
• Taxable income: $6,683
• Est. tax owed @ 24.0%: −$1,604
• After-tax cash flow: $10,560/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: Allentown City SD
• NCES district ID: 4202280
• Math proficiency: 10% ▼ -10.00%
• Reading proficiency: 20% ▼ -15.00%
• Median HH income: $36,337
• Composite: 12.43/100
• National rank: #9630
• State rank: #513 of 539 in PA

Livability — Allentown

• Score: 81/100
• State rank: #171
• US rank: #1440

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Allentown, PA
• County: Lehigh County · 333,019 people
• City population: 172,996
• Metro: Allentown-Bethlehem-Easton, PA-NJ
• Population (ZIP): 51,001
• Household income: $43,085
• Rent vs Own: 67.9% rent · 32.1% own
• Severe rent burden: 4313.0

Population outlook (Lehigh County) Hauer SSP2

• Today (2025): 392,957 people
• By 2030: 408,319 · +3.9%
• By 2040: 440,007 · +12.0%
• By 2050: 475,940 · +21.1%
• By 2075: 590,448 · +50.3%
• By 2100: 690,314 · +75.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (69%)
• Race & ethnicity: Hispanic / Latino 69% Two or more races 28% White 18% Black 10%
• Hispanic origin (detail): Mexican 3% Puerto Rican 38% Dominican 22%
• Common ancestry: Polish 1% Romanian 1% Hispanic 1%
• Foreign-born: 22% · Canada, Jamaica
• Languages at home: 45% English-only · Spanish 52% Arabic 2%

Political lean MEDSL · Lehigh

• 2024 margin: Toss-up / Even · D 50.7% · R 48.0% · Other 1.2%
• 2008→2024 swing: -12.9pp toward R · 2008: 15.6pp · 2024: 2.7pp
• All cycles: 2024: D+2.7 2020: D+7.6 2016: D+4.4 2012: D+7.5 2008: D+15.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -227.01%
• Current HPI: 404.834
• Rent YoY: ▲ 5.48%
• 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

+367.5% since first listed

5 events — show timeline

• 2026-05-12 Listed $360,000 FSBO.com
• 2006-01-31 Listing Removed — GLVRMLS
• 2005-12-13 Listed $179,900 GLVRMLS
• 1993-07-01 Sold (Public Records) $93,500 Public Records
• 1989-10-27 Sold (Public Records) $77,000 Public Records

Property tax history

-1.9%/yr

Latest (2026): $2,932 · +0.7% YoY. Source: county tax records.