217 E South St · Allentown, PA 18109

$189,900

3 bd · 1.0 ba · 864 sqft · SingleFamily public records · 26 Days on market

Built 1929 1,629 sqft lot $220/sqft · at area comps Est $195k · 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 +19.5/30.0
• ARV discount +8.7/15.0
• DSCR +6.2/10.0
• 1% rule +4.7/10.0
• Rent growth +4.1/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well kept brick row * New windows * New carpet * Gas heat and hot water * Skylight in bath * 3rd bedroom being used as walk in closet * New garage door * Newly painted * This is not a drive by *

Key facts

• Near local parks
• Near event centers
• Near museums

Tags

• EAST SIDE OF ALLENTOWN
• NEAR LOCAL PARKS
• NEAR SEMI PRO BASEBALL STADIUM
• NEAR LOCAL DINING
• NEAR EVENT CENTERS
• NEAR MUSEUMS

Property features AI

Exterior

• Parking: Detached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Brick construction; Asphalt/fiberglass roof; Above-grade finished area reported (864); Zoned R-Mh - Medium High Density
• Construction: Brick exterior; Asphalt/fiberglass roof; Year built: Unknown
• Exterior features: Porch; Flat lot; Has a view

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Bedrooms: Bedroom (Second level) — 13 x 10; Bedroom (Second level) — 8 x 8 (owner converted into a closet); Bedroom (Second level) — 13 x 11
• Flooring: Hardwood
• Bathrooms: Full bathroom (Second level) — 8 x 8
• Heating & cooling: Gas heating
• Interior features: Dining area with a separate/formal dining room; Hardwood floors; Full walk-out basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $216 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (2.7% below list).
• Recommended offer: $185k (2.7% below list) — sets the bar for 1% rule.
• Cap rate 7.7% 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 (+6.6%/yr); 58 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 765 units permitted in Lehigh County in 2024 (286 in 5+ unit buildings).
• This rent runs 38% of the median local income ($58k/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 $1k of loan paydown is wiped out by about $6k 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 + 6.6% rent growth), your $53k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y ago; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $165k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1929 — 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 $184,814 (2.7% below list)

Questions for the listing agent

1. Built in 1929 — 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 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: 0.97% ✗
• Cap rate: 7.66%
• Cash-on-cash: 4.87%
• DSCR: 1.22
• GRM: 8.6

CMA / ARV

• ARV (median comp): $195,041
• List price: $189,900
• Delta: -2.64%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
553 Skyline Dr	0.58mi	4/2.0 (+1)	900 (+4%)	19mo	$320,000	$356	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 · 6.57% rent growth · sell at horizon

5-year hold

• IRR: -4.9%
• Equity multiple: 0.81×
• Total profit: $-10,158
• Equity at exit: $28,315

10-year hold

• IRR: 8.4%
• Equity multiple: 1.74×
• Total profit: $39,174
• Equity at exit: $16,419

Cash invested: $53,172 (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 18109

• Home prices YoY: -21.9%
• Rents YoY: 6.6%
• Active inventory: 58
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,848 high
• Mortgage (P&I): −$996
• Tax from tax record: −$169 /mo · $2,030/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $216

Break-even live

Break-even rent $1,575

Max offer price $189,900

Occupancy floor 83%

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
503 S Austin St Unit 503 A Allentown, PA	2.0	1.0	1000	$1,900	$1.90	14d	1	0.05mi
503 S Austin St Unit 517 A Allentown, PA	2.0	1.0	1000	$1,900	$1.90	14d	1	0.05mi
503 S Austin St Unit 514 Allentown, PA	2.0	1.0	1000	$1,550	$1.55	14d	1	0.07mi
503 S Austin St Unit 524 Allentown, PA	2.0	1.0	1000	$1,750	$1.75	23d	1	0.07mi
503 S Austin St Unit A Allentown, PA	2.0	1.0	1000	$1,650	$1.65	2d	1	0.07mi
503 S Austin St Unit 520 Allentown, PA	2.0	1.0	1000	$1,650	$1.65	14d	1	0.07mi
303 E Union St Unit 1st Allentown, PA	2.0	1.0	977	$1,550	$1.59	43d	1	0.24mi
333 River Dr Allentown, PA	1.0–2.0	1.0–2.0	869	$2,025	$2.33	2d	13	0.33mi
501 E Walnut St Allentown, PA	2.0	2.0	850	$1,795	$2.11	2d	1	0.40mi
236 N Front St Allentown, PA	3.0	1.0	1020	$1,800	$1.76	2d	1	0.73mi
817 E Turner St Allentown, PA	2.0	1.0	850	$1,795	$2.11	2d	1	0.76mi
717 S Filmore St Allentown, PA	2.0	1.0	950	$1,745	$1.84	2d	1	0.80mi
949 E Linden St Allentown, PA	2.0	2.0	880	$1,795	$2.04	14d	1	0.82mi
201 N 3rd St Allentown, PA	2.0	2.0	1145	$2,128	$1.86	2d	4	0.87mi
305 N 2nd St #1 Allentown, PA	2.0	1.0	757	$1,500	$1.98	23d	1	0.88mi
605 E Susquehanna St Allentown, PA	3.0	1.0	1092	$2,500	$2.29	14d	1	0.92mi
338 N 2nd St Apt 1 Allentown, PA	2.0	1.0	600	$1,475	$2.46	2d	1	0.94mi
120 N 4th St Unit 2 Allentown, PA	2.0	1.0	780	$1,475	$1.89	43d	1	1.04mi
1509 S Albert St Allentown, PA	3.0	1.0	920	$1,750	$1.90	21d	1	1.15mi
801-819 N Halstead St Allentown, PA	2.0	2.0	995	$1,795	$1.80	43d	1	1.20mi
801 N Halstead St Allentown, PA	1.0–2.0	1.0–2.0	872	$1,795	$2.06	2d	1	1.20mi
45 N 6th St Allentown, PA	2.0	1.0–2.0	1002	$3,616	$3.61	2d	13	1.21mi
26 N 6th St Allentown, PA	1.0–2.0	1.0–2.0	953	$2,224	$2.33	2d	9	1.24mi
520 W Cumberland St Allentown, PA	1.0–2.0	1.0–2.0	929	$2,293	$2.47	2d	13	1.29mi
218 N 6th St Apt 3 Allentown, PA	3.0	1.0	750	$1,600	$2.13	23d	1	1.30mi
427 N 5th St Unit 2 Allentown, PA	2.0	1.0	800	$1,400	$1.75	14d	1	1.31mi
621 W Turner St Apt 14 Allentown, PA	3.0	1.0	800	$1,395	$1.74	23d	1	1.32mi
27 N 7th St Allentown, PA	2.0	1.0–2.0	840	$2,222	$2.64	2d	11	1.32mi
702 Saint John St Apt 3 Allentown, PA	2.0	1.0	896	$1,400	$1.56	2d	1	1.32mi
107 N 7th St Allentown, PA	2.0	1.0–2.0	855	$2,972	$3.47	2d	23	1.33mi
948 N Front St Unit C-2 Allentown, PA	2.0	2.0	954	$2,300	$2.41	2d	1	1.34mi
948 N Front St Allentown, PA	1.0–2.0	1.0–2.0	864	$2,300	$2.66	2d	3	1.35mi
1701 S Albert St Allentown, PA	2.0	1.0	980	$1,450	$1.48	43d	1	1.35mi
144 N 7th St Allentown, PA	2.0	1.0	850	$1,595	$1.88	23d	1	1.38mi
818 Walnut St Apt 5 Allentown, PA	2.0	1.0	936	$1,450	$1.55	18d	1	1.42mi
801 N Jordan St Unit 3 Allentown, PA	2.0	1.0	935	$1,350	$1.44	43d	1	1.43mi
528 N 6th St Allentown, PA	3.0	1.0	967	$1,700	$1.76	14d	1	1.47mi
835 Hamilton St Unit 409 Allentown, PA	2.0	2.0	1052	$2,374	$2.26	18d	1	1.48mi
835 Hamilton St Unit 509 Allentown, PA	2.0	2.0	1052	$2,399	$2.28	18d	1	1.48mi

Listing history 8 events

1. 2026-05-04
   price $199,900 838-char remark
2. 2026-04-28
   listed $210,000 Active 838-char remark
3. 2008-07-17
   soldstatus $95,000 211-char remark

   Show marketing remark (211 chars)

   Well kept brick row * New windows * New carpet * Gas heat and hot water * Skylight in bath * 3rd bedroom being used as walk in closet * New garage door * Newly painted * This is not a drive by *

4. 2008-07-17
   soldstatus $95,000

   Show marketing remark (211 chars)

   Well kept brick row * New windows * New carpet * Gas heat and hot water * Skylight in bath * 3rd bedroom being used as walk in closet * New garage door * Newly painted * This is not a drive by *

5. 2008-03-20
   listed $89,900 211-char remark

   Show marketing remark (211 chars)

   Well kept brick row * New windows * New carpet * Gas heat and hot water * Skylight in bath * 3rd bedroom being used as walk in closet * New garage door * Newly painted * This is not a drive by *

6. 2005-06-06
   soldstatus $59,900
7. 2005-06-01
   soldstatus $59,900

   Show marketing remark (218 chars)

   Row in nice area * 1 car detached garage * Gas cooking * Gas heat * Gas hot water * Skylight in bath * Some new tilt-in windows * 3 Bedrooms, one is a walk thru, 1 walk through * 1 bath * All appliances stay *

8. 2005-04-08
   listed $59,900

   Show marketing remark (218 chars)

   Row in nice area * 1 car detached garage * Gas cooking * Gas heat * Gas hot water * Skylight in bath * Some new tilt-in windows * 3 Bedrooms, one is a walk thru, 1 walk through * 1 bath * All appliances stay *

ⓘ 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: $2,030 · $169/mo
• Projected year-2 tax: $2,515 · $210/mo
• Expected delta: +$485/yr (+$40/mo · 23.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,178
• − Mortgage interest: −$10,637
• − Property taxes: −$2,030
• − Insurance: −$950
• − Repairs & maintenance: −$1,774
• − Management: −$1,774
• − Depreciation: −$5,524
• Taxable loss: −$512
• Est. tax savings @ 24.0%: +$123
• After-tax cash flow: $2,714/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: 56,443
• Metro: Allentown-Bethlehem-Easton, PA-NJ
• Population (ZIP): 18,446
• Household income: $58,031
• Rent vs Own: 47.9% rent · 52.1% own
• Severe rent burden: 898.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Hispanic / Latino 55% White 33% Two or more races 15% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 27% Cuban 1% Dominican 18%
• Common ancestry: Hispanic 2% Romanian 1% Polish 1%
• Foreign-born: 22% · Canada, Jamaica
• Languages at home: 53% English-only · Spanish 37% Arabic 6% French/Haitian/Cajun 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: ▼ -96.00%
• Current HPI: 342.9027
• Rent YoY: ▲ 6.57%
• 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

+175.5% since first listed

11 events — show timeline

• 2026-06-10 Sold (MLS) $165,000 GLVRMLS
• 2026-05-24 Pending — GLVRMLS
• 2026-05-21 Price Changed $189,900 GLVRMLS
• 2026-05-04 Price Changed $199,900 GLVRMLS
• 2026-04-28 Listed $210,000 GLVRMLS
• 2008-07-17 Sold (Public Records) $95,000 Public Records
• 2008-07-17 Sold (MLS) $95,000 GLVRMLS
• 2008-03-20 Listed $89,900 GLVRMLS
• 2005-06-06 Sold (Public Records) $59,900 Public Records
• 2005-06-01 Sold (MLS) $59,900 GLVRMLS
• 2005-04-08 Listed $59,900 GLVRMLS

Property tax history

-1.8%/yr

Latest (2026): $2,030 · +0.8% YoY. Source: county tax records.