5200 Freemansburg Lot 27 Ave · Bethlehem, PA 18045

$73,900

2 bd · 1.0 ba · 636 sqft · Land · 26 Days on market

Built 1998 $795/mo HOA · 42% of rent

---

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 +26.1/30.0
• 1% rule +10.0/10.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Livability +4.1/5.0
• Schools +3.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great starter home. Great location. Close to 22, 78, 33, turnpike. Nice size rooms. Bathrooms nice size. Low maintenance. Low taxes, only $910.66 total. Ready to move in. $360 lot rent pays water, sewerage, garbage, some snow removal. 2 parking spaces. New storm door. Refrigerator and dryer stay. Co ordered and a clear Co will be provided.

Key facts

• Fully renovated
• Open concept kitchen
• Modern upgrades

Tags

• FULLY RENOVATED
• HIGH END FINISHES
• MODERN UPGRADES
• OPEN CONCEPT KITCHEN
• BRAND NEW CABINETRY
• HIGH END GRANITE COUNTERTOPS

Property features AI

Finance

• HOA & community: Association fee $795 monthly

Exterior

• Parking: Off-street parking; 1-car garage
• Utilities: 150 amp electric service; Community/co-op water; Community/co-op sewer
• Home design: Single-story; Facing/orientation not specified; Above-grade finished area: 636
• Construction: Vinyl siding; Asphalt/fiberglass roof; Crawl space foundation; Year built: Unknown
• Exterior features: Porch; Mobile home

Interior

• Kitchen: Gas oven; Refrigerator
• Bedrooms: Total rooms: 3
• Flooring: Luxury vinyl; Luxury vinyl plank
• Bathrooms: 1 full bathroom
• Heating & cooling: Gas heating; Wall/window cooling unit(s)
• Interior features: Replacement windows; Eat-in kitchen; Walk-in closet(s)
• Laundry & utility: Washer; Electric dryer; Electric dryer hookup on main level; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath land listed at $74k.

Deal economics

• At list price, monthly cash flow is $186 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $74k).
• Recommended offer: $73k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 4.3% in Bethlehem — 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 82/100 on livability (#138 in PA, #1,122 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: 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.
• Market conditions: Rents rising fast (+11.2%/yr); 163 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 567 units permitted in Northampton County in 2024 (151 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $511 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $21k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 25y ago; this cycle's ask has dropped $12k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $41k; list at $74k implies a 80% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 42% of rent.
• 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 $72,791 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 2.56% ✓
• Cap rate: 9.32%
• Cash-on-cash: 10.79%
• DSCR: 1.48
• GRM: 3.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 11.3%
• Equity multiple: 1.50×
• Total profit: $10,377
• Equity at exit: $11,019

10-year hold

• IRR: 26.8%
• Equity multiple: 4.47×
• Total profit: $71,824
• Equity at exit: $6,390

Cash invested: $20,692 (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 18045

• Rents YoY: 11.2%
• Active inventory: 163
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,888 medium
• Mortgage (P&I): −$388
• Tax est. 1.5%: −$92 /mo · $1,108/yr
• Insurance: −$31
• HOA: −$795
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $186

Break-even live

Break-even rent $1,653

Max offer price $73,900

Occupancy floor 85%

Sensitivity live

Price	-10% $237	-5% $212	+0% $186	+5% $161	+10% $135
Rent	-10% $37	-5% $112	+0% $186	+5% $261	+10% $335
Rate	-1.0pp $223	-0.5pp $205	base $186	+0.5pp $167	+1.0pp $148

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: $18,475
• Closing costs: $2,217
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4705 Pheasant Run Ct Apt 1 Bethlehem, PA	1.0	1.0	630	$1,600	$2.54	24d	1	1.04mi

HOA detail

• Monthly dues: $795 · $9,540/yr
• Likely covers: watersewertrashsnow removal

Listing history 19 events

1. 2026-06-18
   days on market $73,900 Active 26 DOM
2. 2026-06-17
   days on market $73,900 Active 25 DOM
3. 2026-06-16
   pricedays on market $73,900 Active 24 DOM
4. 2026-06-15
   days on market $76,933 Active 23 DOM
5. 2026-06-14
   pricedays on market $76,933 Active 21 DOM
6. 2026-06-10
   days on market $79,900 Active 18 DOM
7. 2026-06-09
   days on market $79,900 Active 17 DOM
8. 2026-06-08
   days on market $79,900 Active 16 DOM
9. 2026-06-07
   pricedays on market $79,900 Active 15 DOM
10. 2026-06-03
    days on market $86,000 Active 11 DOM
11. 2026-06-02
    days on market $86,000 Active 10 DOM
12. 2026-06-01
    days on market $86,000 Active 9 DOM
13. 2026-05-31
    days on market $86,000 Active 8 DOM
14. 2026-05-31
    days on market $86,000 Active 7 DOM
15. 2026-05-23
    listed $86,000 Active
16. 2008-12-19
    soldstatus $41,000 341-char remark

    Show marketing remark (341 chars)

    Great starter home. Great location. Close to 22, 78, 33, turnpike. Nice size rooms. Bathrooms nice size. Low maintenance. Low taxes, only $910.66 total. Ready to move in. $360 lot rent pays water, sewerage, garbage, some snow removal. 2 parking spaces. New storm door. Refrigerator and dryer stay. Co ordered and a clear Co will be provided.

17. 2008-03-07
    listed $41,000 341-char remark

    Show marketing remark (341 chars)

    Great starter home. Great location. Close to 22, 78, 33, turnpike. Nice size rooms. Bathrooms nice size. Low maintenance. Low taxes, only $910.66 total. Ready to move in. $360 lot rent pays water, sewerage, garbage, some snow removal. 2 parking spaces. New storm door. Refrigerator and dryer stay. Co ordered and a clear Co will be provided.

18. 2001-05-02
    historical
19. 2001-03-08
    listed $10,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% 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: $22,661
• − Mortgage interest: −$4,140
• − Property taxes: −$1,108
• − Insurance: −$370
• − Repairs & maintenance: −$1,813
• − Management: −$1,813
• − HOA: −$9,540
• − Depreciation: −$2,150
• Taxable income: $1,728
• Est. tax owed @ 24.0%: −$415
• After-tax cash flow: $1,819/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 Area SD
• NCES district ID: 4203570
• Math proficiency: 31% ▼ -2.00%
• Reading proficiency: 49% ▼ -6.00%
• Median HH income: $55,124
• Composite: 34.92/100
• National rank: #5068
• State rank: #342 of 539 in PA

Livability — Bethlehem

• Score: 82/100
• State rank: #138
• US rank: #1122

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Northampton County · 236,814 people
• City population: 29,896
• Metro: Allentown-Bethlehem-Easton, PA-NJ
• Population (ZIP): 30,429
• Household income: $114,528
• Rent vs Own: 19.3% rent · 80.7% own
• Severe rent burden: 537.0

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: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 14% Two or more races 9% Asian 5% Black 4%
• Hispanic origin (detail): Puerto Rican 4% Dominican 1%
• Common ancestry: Romanian 5% Polish 2% Italian 2%
• Foreign-born: 10% · Canada, Jamaica, Vietnam
• Languages at home: 84% English-only · Spanish 9% Other Indo-European 3% Russian/Polish/Slavic 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: ▼ -297.92%
• Current HPI: 201.5716
• Rent YoY: ▲ 11.15%
• 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

+719.0% since first listed

5 events — show timeline

• 2026-05-23 Listed $86,000 GLVRMLS
• 2008-12-19 Sold (MLS) $41,000 GLVRMLS
• 2008-03-07 Listed $41,000 GLVRMLS
• 2001-05-02 Listing Removed — GLVRMLS
• 2001-03-08 Listed $10,500 GLVRMLS

Property tax history

+9.1%/yr

Latest (2026): $30,275 · +4.2% YoY. Source: county tax records.