102 Penn St · Lenhartsville, PA 19534

$130,000

6 bd · 3.0 ba · 6,228 sqft · MultiFamily public records · 63 Days on market

Built 1850 10,018 sqft lot

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Why this score? — see what drove the A- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

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

Investor opportunity with serious upside. This historic stone structure in Lenhartsville offers the kind of character and scale that’s increasingly hard to find—and even harder to replicate. The property has been cleaned out and is ready for renovation, with initial work already underway including stone re-pointing and partial second-floor framing. Interior is down to the studs, allowing for a complete reconfiguration to maximize value. The property experienced a fire in the past, under previous ownership; cleanup has been completed and initial restoration efforts are underway. Ideal for experienced investors, contractors, or restoration buyers looking to capitalize on a high-potential project. Opportunities like this—combining size, structure, and character—are limited. Property is being sold strictly AS IS. Buyer responsible for any and all municipal requirements, inspections, and due diligence. Cash or renovation financing likely required.

Key facts

• Stone re-pointing
• 0.23 acre lot
• Built 1850

Tags

• HISTORIC STONE STRUCTURE
• STONE RE-POINTING
• PARTIAL SECOND-FLOOR FRAMING
• INTERIOR DOWN TO THE STUDS
• COMPLETE RECONFIGURATION
• INITIAL RESTORATION EFFORTS

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $130k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $130k).
• Recommended offer: $122k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#1,343 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Kutztown Area SD (town): math 51% / reading 64% proficiency, ranked #86 of 539 in PA (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 9 active listings in the ZIP; 258 units permitted in Berks County in 2024 (27 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($899 loan paydown + $13k appreciation (10.0% local appreciation)).
• Berks County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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.
• Current owner paid $50k; list at $130k implies a 160% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1850 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1850 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.79% ✓
• Cap rate: 22.82%
• Cash-on-cash: 59.02%
• DSCR: 3.63
• GRM: 3.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 71.4%
• Equity multiple: 6.08×
• Total profit: $184,999
• Equity at exit: $117,114

10-year hold

• IRR: 65.2%
• Equity multiple: 13.51×
• Total profit: $455,445
• Equity at exit: $252,561

Cash invested: $36,400 (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 19534

• Home prices YoY: 6.1%
• Active inventory: 9
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $3,630 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$341 /mo · $4,097/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$762
• Net cashflow: $1,790

Break-even live

Break-even rent $1,364

Max offer price $130,000

Occupancy floor 46%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,630
Total (3 units)			$3,630

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $130,000 Active 63 DOM
2. 2026-06-17
   days on market $130,000 Active 62 DOM
3. 2026-06-16
   days on market $130,000 Active 61 DOM
4. 2026-06-15
   days on market $130,000 Active 60 DOM
5. 2026-06-14
   days on market $130,000 Active 58 DOM
6. 2026-06-13
   days on market $130,000 Active 57 DOM
7. 2026-06-10
   days on market $130,000 Active 55 DOM
8. 2026-06-09
   days on market $130,000 Active 54 DOM
9. 2026-06-08
   days on market $130,000 Active 53 DOM
10. 2026-06-07
    days on market $130,000 Active 52 DOM
11. 2026-06-03
    days on market $130,000 Active 48 DOM
12. 2026-06-02
    days on market $130,000 Active 47 DOM
13. 2026-06-01
    days on market $130,000 Active 46 DOM
14. 2026-05-31
    days on market $130,000 Active 45 DOM
15. 2026-05-31
    days on market $130,000 Active 44 DOM
16. 2026-04-16
    listed $130,000 Active 980-char remark

    Show marketing remark (980 chars)

    Investor opportunity with serious upside. This historic stone structure in Lenhartsville offers the kind of character and scale that’s increasingly hard to find—and even harder to replicate. The property has been cleaned out and is ready for renovation, with initial work already underway including stone re-pointing and partial second-floor framing. Interior is down to the studs, allowing for a complete reconfiguration to maximize value. The property experienced a fire in the past, under previous ownership; cleanup has been completed and initial restoration efforts are underway. Ideal for experienced investors, contractors, or restoration buyers looking to capitalize on a high-potential project. Opportunities like this—combining size, structure, and character—are limited. Property is being sold strictly AS IS. Buyer responsible for any and all municipal requirements, inspections, and due diligence. Cash or renovation financing likely required.

17. 2026-04-16
    listed $130,000 Active 980-char remark

    Show marketing remark (980 chars)

    Investor opportunity with serious upside. This historic stone structure in Lenhartsville offers the kind of character and scale that’s increasingly hard to find—and even harder to replicate. The property has been cleaned out and is ready for renovation, with initial work already underway including stone re-pointing and partial second-floor framing. Interior is down to the studs, allowing for a complete reconfiguration to maximize value. The property experienced a fire in the past, under previous ownership; cleanup has been completed and initial restoration efforts are underway. Ideal for experienced investors, contractors, or restoration buyers looking to capitalize on a high-potential project. Opportunities like this—combining size, structure, and character—are limited. Property is being sold strictly AS IS. Buyer responsible for any and all municipal requirements, inspections, and due diligence. Cash or renovation financing likely required.

18. 2025-02-28
    soldstatus $50,000 Sold
19. 2025-02-28
    soldstatus $50,000 Closed
20. 2025-02-13
    status Pending
21. 2025-02-13
    status Pending
22. 2024-12-12
    listed $98,500 Active
23. 2024-12-12
    listed $98,500 Active

ⓘ 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: $4,097 · $341/mo
• Projected year-2 tax: $4,097 · $341/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 5/10 Major FEMA zone X (unshaded) · 67% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,560
• − Mortgage interest: −$7,282
• − Property taxes: −$4,097
• − Insurance: −$650
• − Repairs & maintenance: −$3,485
• − Management: −$3,485
• − Depreciation: −$3,782
• Taxable income: $20,780
• Est. tax owed @ 24.0%: −$4,987
• After-tax cash flow: $16,498/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: Kutztown Area SD
• NCES district ID: 4212930
• Math proficiency: 51% ▼ -4.00%
• Reading proficiency: 64% ▼ -8.00%
• Median HH income: $56,887
• Composite: 49.61/100
• National rank: #1982
• State rank: #86 of 539 in PA

Livability — Lenhartsville

• Score: 62/100
• State rank: #1343
• US rank: #16663

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lenhartsville, PA
• Population (ZIP): 1,983

Population outlook (Berks County) Hauer SSP2

• Today (2025): 425,767 people
• By 2030: 428,814 · +0.7%
• By 2040: 433,463 · +1.8%
• By 2050: 439,426 · +3.2%
• By 2075: 478,647 · +12.4%
• By 2100: 518,507 · +21.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 7% Hispanic / Latino 4%
• Common ancestry: Romanian 8% Polish 6% Iranian 4%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 3% Russian/Polish/Slavic 2% German/W. Germanic 1%

Political lean MEDSL · Berks

• 2024 margin: R (+12.2) · D 43.4% · R 55.6%
• 2008→2024 swing: -21.4pp toward R · 2008: 9.2pp · 2024: -12.2pp
• All cycles: 2024: R+12.2 2020: R+8.2 2016: R+10.2 2012: R+0.6 2008: D+9.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 17.13%
• Current HPI: 296.8656
• Rent YoY: —
• Metro: —
• 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

+32.0% since first listed

8 events — show timeline

• 2026-04-16 Listed $130,000 GLVRMLS
• 2026-04-16 Listed $130,000 BRIGHT MLS
• 2025-02-28 Sold (MLS) $50,000 BRIGHT MLS
• 2025-02-28 Sold (MLS) $50,000 GLVRMLS
• 2025-02-13 Pending — GLVRMLS
• 2025-02-13 Pending — BRIGHT MLS
• 2024-12-12 Listed $98,500 BRIGHT MLS
• 2024-12-12 Listed $98,500 GLVRMLS

Property tax history

+0.9%/yr

Latest (2026): $4,097 · +1.2% YoY. Source: county tax records.