1440 Butler St · Easton, PA 18042

$227,000

4 bd · 1.0 ba · 2,647 sqft · Townhouse public records · 7 Days on market

Built 1900 2,647 sqft lot Est $328k · 31% under

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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 +18.7/30.0
• ARV discount +15.0/15.0
• DSCR +5.9/10.0
• 1% rule +5.4/10.0
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Exceptional Easton twin, this 3/4 bedroom home has all the original charm and quality of construction. Beautiful hardwood floors and historic trim accent, the beautiful wooden doors and archways. A large living room and parlor join the formal dining room and large eat in kitchen with an abundance of cabinets. Full 1st floor bath with walk in shower. Three bedrooms on the second floor, each with detailed woodwork and ceiling fans, along with a nursery or den that could be 4th bedroom and full tiled bath, which matches the historic charm of the home. Third floor is accessed by walk up staircase and features a large room with additional large storage area. Could be another bedroom/ office or t

Key facts

• Historic trim
• Eating kitchen
• Formal dining room

Tags

• HARDWOOD FLOORS
• HISTORIC TRIM
• WOODEN DOORS
• ARCHWAYS
• FORMAL DINING ROOM
• EATING KITCHEN

Property features AI

Exterior

• Parking: Detached garage with automatic garage door opener; 2 garage spaces
• Utilities: Public water; Public sewer; Public power
• Home design: Medium-density residential zoning; Above-grade finished living area reported (2,647)
• Construction: Vinyl siding; Block foundation; Asphalt/fiberglass roof
• Exterior features: Public records lot (approx. 0.061 acres)

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Bedrooms: First floor bedroom (14.00 x 11.00); Second floor bedrooms (7.00 x 9.00; 12.00 x 13.00; 12.00 x 14.00; 10.00 x 14.00); Third floor bedroom (18.00 x 14.00)
• Bathrooms: Two full bathrooms (one on the first floor, one on the second floor)
• Heating & cooling: Gas heating; Wall/window cooling units
• Interior features: Dining area; Separate/formal dining room
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath townhouse listed at $227k.

Deal economics

• At list price, monthly cash flow is $224 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $227k).
• Cap rate 7.5% vs local median 4.2% in Easton — 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 84/100 on livability (#92 in PA, #667 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools C-.
• Easton Area SD (suburban): math 31% / reading 44% proficiency, ranked #364 of 539 in PA (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.9%/yr); 185 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 567 units permitted in Northampton County in 2024 (151 in 5+ unit buildings).
• This rent runs 36% of the median local income ($78k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $227,000

Questions for the listing agent

1. Built in 1900 — 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. 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.
4. 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.
5. 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: 1.04% ✓
• Cap rate: 7.48%
• Cash-on-cash: 4.23%
• DSCR: 1.19
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $328,228
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1053 Lehigh	0.41mi	4/2.0	2,435 (-8%)	9mo	$301,500	$124	56
924 W Berwick St	0.61mi	5/2.0 (+1)	2,436 (-8%)	10mo	$277,500	$114	40
30 13Th St	0.34mi	3/1.5 (-1)	2,296 (-13%)	22mo	$205,000	$89	37
1031 Northampton St	0.54mi	4/3.0	2,367 (-11%)	19mo	$370,000	$156	34
200 6th St	0.51mi	3/3.0 (-1)	2,264 (-14%)	12mo	$295,000	$130	29
125 S 7Th St	0.71mi	4/1.0	2,270 (-14%)	24mo	$235,000	$104	23

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 · 4.94% rent growth · sell at horizon

5-year hold

• IRR: -7.4%
• Equity multiple: 0.72×
• Total profit: $-17,747
• Equity at exit: $33,846

10-year hold

• IRR: 4.6%
• Equity multiple: 1.37×
• Total profit: $23,271
• Equity at exit: $19,627

Cash invested: $63,560 (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 18042

• Rents YoY: 4.9%
• Active inventory: 185
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,359 high
• Mortgage (P&I): −$1,190
• Tax from tax record: −$354 /mo · $4,253/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$495
• Net cashflow: $224

Break-even live

Break-even rent $2,075

Max offer price $227,000

Occupancy floor 86%

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: $56,750
• Closing costs: $6,810
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1343 Washington St Unit 2 Easton, PA	3.0	1.0	2307	$2,000	$0.87	43d	1	0.15mi
220 7th St Easton, PA	3.0	2.5	2092	$2,599	$1.24	2d	1	0.48mi
2238 Fairview Ave Easton, PA	3.0	1.0	1896	$2,350	$1.24	2d	1	0.80mi
2242 Ferry St Easton, PA	3.0	1.5	2202	$2,200	$1.00	2d	1	0.84mi
521 Ferry St Unit PENTHOUSE Easton, PA	3.0	2.0	3000	$3,200	$1.07	23d	1	0.96mi
303 W Lincoln St Easton, PA	3.0	1.0	1796	$2,175	$1.21	43d	1	1.07mi
40 Hillside Ct S Easton, PA	3.0	2.5	2016	$2,800	$1.39	2d	1	1.10mi

Listing history 6 events

1. 2026-06-13
   statusdays on market $227,000 Pending 7 DOM
2. 2026-06-10
   days on market $227,000 Active 5 DOM
3. 2026-06-09
   days on market $227,000 Active 4 DOM
4. 2026-06-08
   days on market $227,000 Active 3 DOM
5. 2026-06-07
   remarks 699-char remark
6. 2026-06-07
   listed $227,000 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: $4,253 · $354/mo
• Projected year-2 tax: $4,253 · $354/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 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 15% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,304
• − Mortgage interest: −$12,716
• − Property taxes: −$4,253
• − Insurance: −$1,135
• − Repairs & maintenance: −$2,264
• − Management: −$2,264
• − Depreciation: −$6,604
• Taxable loss: −$931
• Est. tax savings @ 24.0%: +$224
• After-tax cash flow: $2,911/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: Easton Area SD
• NCES district ID: 4208850
• Math proficiency: 31% ▼ -2.00%
• Reading proficiency: 44% ▼ -11.00%
• Median HH income: $61,390
• Composite: 33.46/100
• National rank: #5457
• State rank: #364 of 539 in PA

Livability — Easton

• Score: 84/100
• State rank: #92
• US rank: #667

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Easton, PA
• County: Northampton County · 236,814 people
• City population: 75,961
• Metro: Allentown-Bethlehem-Easton, PA-NJ
• Population (ZIP): 45,532
• Household income: $77,556
• Rent vs Own: 45.0% rent · 55.0% own
• Severe rent burden: 1590.0

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 57% Hispanic / Latino 21% Black 12% Two or more races 12% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 7% Dominican 3%
• Common ancestry: Romanian 3% Polish 2% Iranian 1%
• Foreign-born: 13% · Canada, China, Jamaica
• Languages at home: 80% English-only · Spanish 15% Other Indo-European 1% Arabic 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: ▼ -460.52%
• Current HPI: 254.8776
• Rent YoY: ▲ 4.94%
• 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

1 event — show timeline

• 2026-06-05 Listed $227,000 GLVRMLS

Property tax history

+1.5%/yr

Latest (2026): $4,253 · +2.3% YoY. Source: county tax records.