30 S Franklin St · Allentown, PA 18102

$283,900

3 bd · 2.0 ba · 2,120 sqft · MultiFamily public records · 5 Days on market

Built 1898 1,838 sqft lot Est $290k · at est.

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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 +27.8/30.0
• DSCR +9.8/10.0
• ARV discount +8.5/15.0
• 1% rule +7.0/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Multi unit with first floor 1 bedroom 1 full bath apartment with living room, kitchen with access to rear yard, Unit #2 consists of the 2nd & 3rd floors, 3 bedrooms, 1 full bath, living room and kitchen. full basement and detached 1.5 car garage used by owner, garage could be rented for extra income. Current Tenants are month to month. Convenient location close to bus routes, major highways, shopping, restaurants, schools, and hospitals.

Key facts

• Garage
• Built 1898
• Listed 5 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $284k.

Deal economics

• At list price, monthly cash flow is $861 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $284k).
• Cap rate 9.9% 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; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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 $3,414/mo this rent would consume 95% 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 $9k 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 $79k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 27y 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: 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 $283,900

Questions for the listing agent

1. Built in 1898 — 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 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?
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 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: 1.20% ✓
• Cap rate: 9.93%
• Cash-on-cash: 13.00%
• DSCR: 1.58
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $290,440
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26 N Jefferson St	0.26mi	4/2.0 (+1)	2,046 (-4%)	14mo	$280,500	$137	66
1033 W Walnut St	0.45mi	3/2.0	2,008 (-5%)	16mo	$259,900	$129	57
317 N 15Th St	0.41mi	4/2.0 (+1)	1,980 (-7%)	15mo	$290,000	$146	52
235 S 14th St	0.21mi	4/— (+1)	1,914 (-10%)	20mo	$275,000	$144	52
18 S 13Th St	0.18mi	4/2.0 (+1)	2,404 (+13%)	22mo	$290,000	$121	46
121 N Poplar St	0.43mi	3/1.5	1,822 (-14%)	16mo	$150,000	$82	41

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: 5.5%
• Equity multiple: 1.22×
• Total profit: $17,558
• Equity at exit: $42,330

10-year hold

• IRR: 17.0%
• Equity multiple: 2.55×
• Total profit: $123,513
• Equity at exit: $24,546

Cash invested: $79,492 (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: 15.3×

Monthly cashflow live

• Estimated rent: $3,414 high
• Mortgage (P&I): −$1,489
• Tax from tax record: −$229 /mo · $2,744/yr
• Insurance: −$118
• HOA: −$0
• Vacancy / Maint / Mgmt: −$717
• Net cashflow: $861

Break-even live

Break-even rent $2,324

Max offer price $283,900

Occupancy floor 70%

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

Units	Beds	Baths	Est. rent
1× unit	1	1	$1,543
1× unit	4	1	$1,870
Total (2 units)			$3,414

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: $70,975
• Closing costs: $8,517
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
216 S 14th St Allentown, PA	4.0	1.5	1640	$2,300	$1.40	2d	1	0.17mi
26 N Madison St Apt 2 Allentown, PA	2.0	1.0	2946	$1,500	$0.51	23d	1	0.18mi
1210 W Turner St Unit 2 Allentown, PA	2.0	2.0	1500	$1,900	$1.27	2d	1	0.40mi
1210 W Turner St Unit 2 Allentown, PA	2.0	2.0	1500	$2,400	$1.60	43d	1	0.40mi
1210 W Turner St Unit 2 Allentown, PA	2.0	2.0	1500	$2,150	$1.43	23d	1	0.40mi
948 W Maple St Allentown, PA	4.0	1.0	1932	$2,300	$1.19	43d	1	0.57mi
1338 W Liberty St Allentown, PA	4.0	1.0	1526	$2,000	$1.31	14d	1	0.58mi
835 Hamilton St Unit 424 Allentown, PA	2.0	2.0	1411	$2,625	$1.86	14d	1	0.71mi
835 Hamilton St Unit 608 Allentown, PA	2.0	2.0	1411	$2,725	$1.93	14d	1	0.71mi
1455 W Tilghman St Allentown, PA	4.0	1.5	1520	$1,850	$1.22	43d	1	0.79mi
626 N 11th St Allentown, PA	4.0	1.5	1642	$2,200	$1.34	2d	1	0.84mi
209 N Eighth St Apt 2 Allentown, PA	3.0	1.0	1430	$1,550	$1.08	43d	1	0.84mi
828 W Gordon St Allentown, PA	4.0	2.5	1628	$2,250	$1.38	2d	1	0.85mi
45 N 6th St Allentown, PA	2.0	1.0–2.0	1002	$3,616	$3.61	2d	13	1.01mi
644 Lehigh St Allentown, PA	3.0	1.0	1714	$2,250	$1.31	43d	1	1.06mi
823 W Washington St Allentown, PA	4.0	1.0	1400	$1,950	$1.39	14d	1	1.15mi
528 N 6th St Allentown, PA	3.0	1.0	1934	$1,800	$0.93	43d	1	1.16mi
2303 W Allen St Allentown, PA	3.0	2.0	2178	$2,800	$1.29	43d	1	1.20mi
535 Tilghman St Unit 2ND Allentown, PA	4.0	2.0	1500	$1,750	$1.17	2d	1	1.29mi
725 N Berks St Allentown, PA	3.0	1.5	1680	$2,450	$1.46	14d	1	1.31mi
389 W Turner St Allentown, PA	4.0	1.5	2144	$2,400	$1.12	2d	1	1.32mi
314 Barber St Lot 35 Allentown, PA	3.0	2.5	1525	$2,450	$1.61	19d	1	1.36mi
913 N 6th St Allentown, PA	4.0	1.0	1476	$1,698	$1.15	14d	1	1.44mi

Listing history 12 events

1. 2026-04-23
   status Pending
2. 2026-04-14
   listed $283,900 Active
3. 2023-08-17
   soldstatus $247,000
4. 2023-08-16
   soldstatus $247,000 Sold 447-char remark

   Show marketing remark (447 chars)

   Multi unit with first floor 1 bedroom 1 full bath apartment with living room, kitchen with access to rear yard, Unit #2 consists of the 2nd & 3rd floors, 3 bedrooms, 1 full bath, living room and kitchen. full basement and detached 1.5 car garage used by owner, garage could be rented for extra income. Current Tenants are month to month. Convenient location close to bus routes, major highways, shopping, restaurants, schools, and hospitals.

5. 2023-07-26
   status Pending 447-char remark

   Show marketing remark (447 chars)

   Multi unit with first floor 1 bedroom 1 full bath apartment with living room, kitchen with access to rear yard, Unit #2 consists of the 2nd & 3rd floors, 3 bedrooms, 1 full bath, living room and kitchen. full basement and detached 1.5 car garage used by owner, garage could be rented for extra income. Current Tenants are month to month. Convenient location close to bus routes, major highways, shopping, restaurants, schools, and hospitals.

6. 2023-06-22
   listed $247,000 Active 447-char remark

   Show marketing remark (447 chars)

   Multi unit with first floor 1 bedroom 1 full bath apartment with living room, kitchen with access to rear yard, Unit #2 consists of the 2nd & 3rd floors, 3 bedrooms, 1 full bath, living room and kitchen. full basement and detached 1.5 car garage used by owner, garage could be rented for extra income. Current Tenants are month to month. Convenient location close to bus routes, major highways, shopping, restaurants, schools, and hospitals.

7. 2023-02-24
   historical
8. 2022-12-05
   listed $240,000 Active
9. 1999-12-15
   soldstatus $50,000
10. 1999-12-09
    soldstatus $52,500
11. 1999-10-13
    listed $54,900
12. 1983-05-06
    soldstatus $42,500

ⓘ 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: $2,744 · $229/mo
• Projected year-2 tax: $3,615 · $301/mo
• Expected delta: +$871/yr (+$73/mo · 31.7%)

ⓘ 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 18% 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: $40,968
• − Mortgage interest: −$15,903
• − Property taxes: −$2,744
• − Insurance: −$1,420
• − Repairs & maintenance: −$3,277
• − Management: −$3,277
• − Depreciation: −$8,259
• Taxable income: $6,088
• Est. tax owed @ 24.0%: −$1,461
• After-tax cash flow: $8,875/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

+568.0% since first listed

12 events — show timeline

• 2026-04-23 Pending — GLVRMLS
• 2026-04-14 Listed $283,900 GLVRMLS
• 2023-08-17 Sold (Public Records) $247,000 Public Records
• 2023-08-16 Sold (MLS) $247,000 GLVRMLS
• 2023-07-26 Pending — GLVRMLS
• 2023-06-22 Listed $247,000 GLVRMLS
• 2023-02-24 Listing Removed — GLVRMLS
• 2022-12-05 Listed $240,000 GLVRMLS
• 1999-12-15 Sold (MLS) $50,000 GLVRMLS
• 1999-12-09 Sold (Public Records) $52,500 Public Records
• 1999-10-13 Listed $54,900 GLVRMLS
• 1983-05-06 Sold (Public Records) $42,500 Public Records

Property tax history

-2.0%/yr

Latest (2026): $2,744 · +0.7% YoY. Source: county tax records.