139 W Ashland St · Doylestown, PA 18901

$699,900

6 bd · 3.0 ba · 2,207 sqft · MultiFamily public records · 2 Days on market

Built 1890 8,466 sqft lot

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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 +25.2/30.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Schools +5.8/10.0
• Livability +4.5/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• 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

Great Triplex in the heart of Doylestown Boro!

Key facts

• Triplex
• 8,466 sq ft lot
• 2 garage spots

Tags

• TRIPLEX
• HEART OF DOYLESTOWN BORO

Property features AI

Finance

• Financial info: Fee simple ownership; Three total rental units

Exterior

• Parking: Detached rear-entry garage with 2 parking spaces
• Utilities: Public water; Public sewer; Oil hot water for domestic hot water
• Home design: Detached structure; Above-grade finished area approximately 2,207 (as assessed)
• Construction: Frame construction; Stone foundation; Other structures both above and below grade
• Exterior features: Lot approximately 51 x 166; No tidal water on property

Interior

• Bedrooms: Three one-bedroom units
• Heating & cooling: Baseboard hot water heating (oil-fired); Window air conditioning units (electric)
• Interior features: Full basement; Multiple access exits (2+)

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.5-bath units multifamily listed at $700k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $526/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $700k).
• Cap rate 9.0% vs local median 2.5% in Doylestown — 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 89/100 on livability (#24 in PA, #146 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, amenities A+; Watch: cost of living F.
• Central Bucks SD (suburban): math 55% / reading 71% proficiency, ranked #37 of 539 in PA (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 7% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+1.9%/yr); 117 active listings in the ZIP; high-income renter base; 663 units permitted in Bucks County in 2024 (106 in 5+ unit buildings).
• At $7,630/mo this rent would consume 77% of the median local household income ($118k/yr) (locally 1032% 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 $5k of loan paydown is wiped out by about $21k 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 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $38k; list at $700k implies a 1752% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — 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 $699,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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?
6. 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.
7. 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.
8. 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: 1.09% ✓
• Cap rate: 9.00%
• Cash-on-cash: 9.66%
• DSCR: 1.43
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.88% rent growth · sell at horizon

5-year hold

• IRR: -3.0%
• Equity multiple: 0.89×
• Total profit: $-21,586
• Equity at exit: $104,357

10-year hold

• IRR: 5.5%
• Equity multiple: 1.39×
• Total profit: $75,941
• Equity at exit: $60,515

Cash invested: $195,972 (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 18901

• Rents YoY: 1.9%
• Active inventory: 117
• Price-to-rent: 22.9×

Monthly cashflow live

• Estimated rent: $7,630 medium
• Mortgage (P&I): −$3,670
• Tax from tax record: −$488 /mo · $5,862/yr
• Insurance: −$292
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,602
• Net cashflow: $1,577

Break-even live

Break-even rent $5,634

Max offer price $699,900

Occupancy floor 74%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.5	$7,629
Total (3 units)			$7,630

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: $174,975
• Closing costs: $20,997
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-18
   days on market $699,900 Coming Soon 2 DOM
2. 2026-06-17
   remarks 46-char remark
3. 2026-06-17
   listed $699,900 Coming Soon 1 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: $5,862 · $488/mo
• Projected year-2 tax: $8,460 · $705/mo
• Expected delta: +$2,598/yr (+$217/mo · 44.3%)

ⓘ 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 ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $91,560
• − Mortgage interest: −$39,205
• − Property taxes: −$5,862
• − Insurance: −$3,500
• − Repairs & maintenance: −$7,325
• − Management: −$7,325
• − Depreciation: −$20,361
• Taxable income: $7,983
• Est. tax owed @ 24.0%: −$1,916
• After-tax cash flow: $17,011/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: Central Bucks SD
• NCES district ID: 4205310
• Math proficiency: 55% ▼ -12.00%
• Reading proficiency: 71% ▼ -12.00%
• Median HH income: $97,513
• Composite: 58.05/100
• National rank: #1032
• State rank: #37 of 539 in PA

Livability — Doylestown

• Score: 89/100
• State rank: #24
• US rank: #146

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Doylestown, PA
• County: Bucks County · 506,477 people
• City population: 51,407
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 28,509
• Household income: $118,256
• Rent vs Own: 32.5% rent · 67.5% own
• Severe rent burden: 1032.0

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 (87%)
• Race & ethnicity: White 87% Two or more races 6% Hispanic / Latino 3% Asian 3% Black 2%
• Common ancestry: Romanian 5% Italian 4% Slovak 3%
• Foreign-born: 8% · Canada, South Korea, China
• Languages at home: 92% English-only · Spanish 2% Other Indo-European 2% German/W. Germanic 1%

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: ▼ -313.87%
• Current HPI: 296.1029
• Rent YoY: ▲ 1.88%
• 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

+1751.6% since first listed

2 events — show timeline

• 2026-06-16 Coming Soon $699,900 BRIGHT MLS
• 1976-12-30 Sold (Public Records) $37,800 Public Records

Property tax history

+1.7%/yr

Latest (2026): $5,862 · +5.8% YoY. Source: county tax records.