409 2nd St · East Bethlehem, PA 15368

$85,000

4 bd · 2.0 ba · 2,318 sqft · SingleFamily public records · 7 Days on market

Built 1900 5,662 sqft lot ↓ 53% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.9/10.0

Listing remarks MLS

Large deck off kitchen great for coffee and cookouts. Jacuzzi tub. Updated kitchen with dining area and a formal dining room. Basement has a toolroom and other rooms that can be a turned into a wine cellar, sauna and family room. First floor laundry, 2 full bathrooms, jacuzzi tub. Kitchen island, large room sizes. Bring your fha buyers.

Key facts

• One-car garage
• Eat-in kitchen
• Walk-in pantry

Tags

• WRAPAROUND COVERED FRONT PORCH
• LARGE COVERED REAR DECK
• EAT-IN KITCHEN
• WALK-IN PANTRY
• ONE-CAR GARAGE

Property features AI

Exterior

• Parking: Built-in attached garage (1 parking space total)
• Utilities: Public water; Public sewer
• Home design: Two-story home; Vinyl siding; Asphalt roof
• Construction: Vinyl siding construction; Asphalt roof
• Exterior features: Resale property; Lot approximately 0.13 acres

Interior

• Kitchen: Kitchen on the main level
• Bedrooms: Upper-level bedrooms (three bedrooms listed on the upper level)
• Flooring: Carpet; Ceramic tile; Hardwood
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced-air gas heating; Central air conditioning
• Interior features: Carpet, ceramic tile and hardwood flooring; Full unfinished basement with walk-out access; Fireplace (1)
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $356 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Bethlehem-Center SD (rural): math 18% / reading 39% proficiency, ranked #448 of 539 in PA (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 3 active listings in the ZIP; 489 units permitted in Washington County in 2024 (30 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Washington County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $85,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.60% ✓
• Cap rate: 12.10%
• Cash-on-cash: 20.74%
• DSCR: 1.92
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 9.6%
• Equity multiple: 1.38×
• Total profit: $8,989
• Equity at exit: $12,674

10-year hold

• IRR: 18.8%
• Equity multiple: 2.57×
• Total profit: $37,418
• Equity at exit: $7,349

Cash invested: $23,800 (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 15368

• Home prices YoY: -5.2%
• Active inventory: 3
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,359 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$181 /mo · $2,172/yr
• Insurance: −$35
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $356

Break-even live

Break-even rent $908

Max offer price $85,000

Occupancy floor 69%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-18
   days on market $85,000 Active 7 DOM
2. 2026-06-17
   days on market $85,000 Active 6 DOM
3. 2026-06-16
   days on market $85,000 Active 5 DOM
4. 2026-06-15
   days on market $85,000 Active 4 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $85,000 Active 2 DOM

ⓘ 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: $2,172 · $181/mo
• Projected year-2 tax: $2,172 · $181/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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,306
• − Mortgage interest: −$4,761
• − Property taxes: −$2,172
• − Insurance: −$1,092
• − Repairs & maintenance: −$1,305
• − Management: −$1,305
• − Depreciation: −$2,473
• Taxable income: $3,200
• Est. tax owed @ 24.0%: −$768
• After-tax cash flow: $3,502/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: Bethlehem-Center SD
• NCES district ID: 4203600
• Math proficiency: 18% ▼ -14.00%
• Reading proficiency: 39% ▼ -15.00%
• Median HH income: $49,354
• Composite: 24.81/100
• National rank: #7596
• State rank: #448 of 539 in PA

Livability — East Bethlehem

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 367

Population outlook (Washington County) Hauer SSP2

• Today (2025): 208,060 people
• By 2030: 207,168 · -0.4%
• By 2040: 202,738 · -2.6%
• By 2050: 195,269 · -6.1%
• By 2075: 175,588 · -15.6%
• By 2100: 145,827 · -29.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 14% Black 4%
• Common ancestry: Romanian 17% Iranian 5% Scotch-Irish 4%
• Foreign-born: 2%

Political lean MEDSL · Washington

• 2024 margin: Strong R (+25.5) · D 36.9% · R 62.4%
• 2008→2024 swing: -20.8pp toward R · 2008: -4.7pp · 2024: -25.5pp
• All cycles: 2024: R+25.5 2020: R+22.8 2016: R+25.3 2012: R+13.3 2008: R+4.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -6.16%
• Current HPI: 112.6126
• 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

-52.8% since first listed

17 events — show timeline

• 2026-06-11 Listed $85,000 West Penn MLS
• 2023-04-24 Sold (Public Records) $117,200 Public Records
• 2023-04-21 Pending — West Penn MLS
• 2023-04-21 Sold (MLS) $127,500 West Penn MLS
• 2023-03-01 Contingent — West Penn MLS
• 2023-02-10 Relisted — West Penn MLS
• 2023-02-06 Delisted — West Penn MLS
• 2023-01-28 Listed $124,900 West Penn MLS
• 2023-01-24 Delisted — West Penn MLS
• 2022-11-23 Price Changed $124,900 West Penn MLS
• 2022-11-06 Price Changed $135,000 West Penn MLS
• 2022-10-14 Relisted — West Penn MLS
• 2022-09-16 Pending — West Penn MLS
• 2022-08-03 Price Changed $150,000 West Penn MLS
• 2022-06-01 Price Changed $165,000 West Penn MLS
• 2022-03-21 Price Changed $175,000 West Penn MLS
• 2022-01-25 Listed $180,000 West Penn MLS

Property tax history

+11.9%/yr

Latest (2026): $2,172 · +3.9% YoY. Source: county tax records.