207 Hickory Dr · Quakertown, PA 18951

$289,900

3 bd · 1.5 ba · 1,800 sqft · MultiFamily public records · 4 Days on market

Built 1975 3,390 sqft lot $161/sqft · 15% below area Est $342k · 15% under

---

Why this score? — see what drove the D 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).

• ARV discount +14.4/15.0
• Cash flow +10.6/30.0
• Schools +4.4/10.0
• Livability +4.0/5.0
• DSCR +3.1/10.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

* Highest and best due Monday 5/18 * * Open House 5/17, 2-4 * Need room? This home has it- with 4 bedrooms and 1800 sf of living space! Rooms are spacious, and bright, the living room has a cozy fireplace with beautiful brick hearth. The third floor has a huge 4th bedroom that can be used for many possibilities from play area, to music room, to crafting area, gaming room, and more. Recent updates include- a new roof in 2020, and new central air in 2021. Conveniently located just steps to all that Quakertown has to offer- proximity of major commuter routes, an abundance of shopping, and many parks and recreational opportunities. Sold As-Is.

Key facts

• Built 1975
• Listed 4 days

Property features AI

Finance

• Other: Ownership: Fee simple

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer
• Home design: Semi-detached structure; Frame construction
• Construction: Slab foundation; Above-grade finished living area reported
• Exterior features: Lot dimensions approximately 30 x 113

Interior

• Bedrooms: Four bedrooms on the upper level
• Bathrooms: One full bathroom; One half bathroom on the main level
• Heating & cooling: Forced air heating (electric); Central air conditioning (electric); Electric hot water
• Interior features: Fireplace (1); No basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath multifamily listed at $290k.

Deal economics

• At list price, monthly cash flow is $-142 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $265k (8.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $229k (21.0% below list).
• Recommended offer: $229k (21.0% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 4.2% in Quakertown — 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 80/100 on livability (#222 in PA, #1,945 nationally) — a professional / high-income tenant draw. Strengths: housing A+, health & safety A+, cost of living A; Watch: commute F.
• Quakertown Community SD (suburban): math 45% / reading 55% proficiency, ranked #154 of 539 in PA (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 144 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 663 units permitted in Bucks County in 2024 (106 in 5+ unit buildings).

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.
• Bucks County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 31y 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

• Climate carrying-cost: moderate wind risk, 23% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $228,969 (21.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.79% ✗
• Cap rate: 5.70%
• Cash-on-cash: -2.10%
• DSCR: 0.91
• GRM: 10.6

CMA / ARV

• ARV (median comp): $342,165
• List price: $289,900
• Delta: -15.27%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -19.8%
• Equity multiple: 0.31×
• Total profit: $-56,030
• Equity at exit: $43,225

10-year hold

• IRR: -12.6%
• Equity multiple: 0.26×
• Total profit: $-60,441
• Equity at exit: $25,065

Cash invested: $81,172 (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 18951

• Active inventory: 144
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,290 high
• Mortgage (P&I): −$1,520
• Tax from tax record: −$310 /mo · $3,720/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$481
• Net cashflow: $-142

Break-even live

Break-even rent $2,470

Max offer price $264,782

Occupancy floor —

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
27 Braithwaite Ln Quakertown, PA	3.0	2.5	1475	$2,300	$1.56	43d	1	0.05mi
214 Trumbauersville Rd Quakertown, PA	4.0	2.0	1400	$2,500	$1.79	43d	1	0.63mi
167 Sunshine Dr Quakertown, PA	3.0	1.5	1616	$2,150	$1.33	24d	1	0.96mi
342 W Broad St Unit 2 Quakertown, PA	2.0	2.0	1500	$1,745	$1.16	43d	1	1.12mi
159 Forsythia Ct Quakertown, PA	3.0	1.5	1402	$2,250	$1.60	43d	1	1.27mi
211 Prairie Ct Quakertown, PA	3.0	3.0	1300	$2,195	$1.69	43d	1	1.30mi
1108 Red Barn Ln Quakertown, PA	3.0	1.5	1400	$1,975	$1.41	4d	1	1.49mi

Listing history 6 events

1. 2026-05-18
   status Pending 651-char remark
2. 2026-05-15
   listed $289,900 Active 651-char remark
3. 2026-05-12
   historical $289,900 651-char remark
4. 1995-12-22
   historical
5. 1995-06-22
   listed $96,440
6. 1977-02-24
   soldstatus $35,900

ⓘ 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: $3,720 · $310/mo
• Projected year-2 tax: $4,150 · $346/mo
• Expected delta: +$430/yr (+$36/mo · 11.6%)

ⓘ 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 ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,476
• − Mortgage interest: −$16,239
• − Property taxes: −$3,720
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,198
• − Management: −$2,198
• − Depreciation: −$8,433
• Taxable loss: −$6,762
• Est. tax savings @ 24.0%: +$1,623
• After-tax cash flow: $-83/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: Quakertown Community SD
• NCES district ID: 4219890
• Math proficiency: 45% ▼ -11.00%
• Reading proficiency: 55% ▼ -15.00%
• Median HH income: $66,186
• Composite: 44.3/100
• National rank: #2833
• State rank: #154 of 539 in PA

Livability — Quakertown

• Score: 80/100
• State rank: #222
• US rank: #1945

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Quakertown, PA
• County: Bucks County · 506,477 people
• City population: 36,568
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 36,568
• Household income: $98,268
• Rent vs Own: 18.0% rent · 82.0% own
• Severe rent burden: 488.0

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 (85%)
• Race & ethnicity: White 85% Two or more races 7% Hispanic / Latino 6% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Romanian 5% Polish 3% Slovak 2%
• Foreign-born: 7% · Canada, China, Jamaica
• Languages at home: 90% English-only · Spanish 5% Other Indo-European 1% 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: ▼ -247.25%
• Current HPI: 283.2262
• Rent YoY: —
• 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

+749.6% since first listed

7 events — show timeline

• 2026-06-01 Sold (MLS) $305,000 BRIGHT MLS
• 2026-05-18 Pending — BRIGHT MLS
• 2026-05-15 Listed $289,900 BRIGHT MLS
• 2026-05-12 Coming Soon $289,900 BRIGHT MLS
• 1995-12-22 Listing Removed — BRIGHT MLS
• 1995-06-22 Listed $96,440 BRIGHT MLS
• 1977-02-24 Sold (Public Records) $35,900 Public Records

Property tax history

+1.6%/yr

Latest (2026): $3,720 · +4.3% YoY. Source: county tax records.