635 W Union St · Allentown, PA 18101

$139,800

3 bd · 1.0 ba · 1,156 sqft · Townhouse public records · 30 Days on market

Built 1900 1,359 sqft lot Est $177k · 21% under

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Why this score? — see what drove the B+ 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• Appreciation +4.0/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks

Great investor opportunity awaits with this 3-bedroom, 1.5-bath row home offering 1,156 sq ft of potential in the heart of Allentown. The first floor features a spacious living room, formal dining room, convenient half bath, and first-floor laundry. The second floor offers three bedrooms and a full bathroom. A walk-up attic provides the opportunity to be finished for additional living space, home office, or possible fourth bedroom. Additional features include a full basement, fenced-in backyard, gas heat, gas hot water, and gas cooking. This property does need some TLC but offers tremendous potential for the right buyer to bring their vision to life. Low taxes make this an excellent opportu

Key facts

• Full basement
• Fenced-in backyard
• Walk-up attic

Tags

• FENCED-IN BACKYARD
• FULL BASEMENT
• WALK-UP ATTIC

Property features AI

Finance

• Other: Zoned B-2 (Central Business)
• HOA & community: Sidewalks in the community

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer; Electric with circuit breakers
• Home design: 2 stories; Stucco exterior; Asphalt/fiberglass roof
• Construction: Stucco construction
• Exterior features: Yard fenced; Fence

Interior

• Kitchen: Gas oven
• Bedrooms: Total rooms: 7; Has basement (full)
• Flooring: Carpet; Laminate; Linoleum; Resilient flooring; Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (gas)
• Interior features: Attic; Dining area; Separate/formal dining room; Storage
• Laundry & utility: Washer hookup on main level; Dryer hookup on main level; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $140k.

Deal economics

• At list price, monthly cash flow is $559 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $138k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 5.2% 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: 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.
• Zoned schools: Roosevelt El Sch (math 8%, 532 students, 100% FRL); South Mountain Ms (math 3% / reading 15%, grade F, #502 of 512 statewide, top 98%, 1,007 students, 100% FRL); William Allen Hs (math 29% / reading 10%, grade F, #392 of 437 statewide, top 90%, 2,852 students, 87% FRL) — zoned schools average 96% FRL vs 73% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.4%/yr); 7 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $1,907/mo this rent would consume 51% of the median local household income ($45k/yr) (locally 660% 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 (-1.9%/yr); year-one equity from $967 of loan paydown is wiped out by about $3k 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 (-1.9% appreciation + 3.4% rent growth), your $39k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.

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 $137,703 (1.5% below list)

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. 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: 1.36% ✓
• Cap rate: 11.09%
• Cash-on-cash: 17.14%
• DSCR: 1.76
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $176,868
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
242 Hall St	0.49mi	4/1.0 (+1)	1,200 (+4%)	3mo	$155,000	$129	63
115 N Penn St	0.42mi	3/1.0	1,248 (+8%)	5mo	$160,000	$128	63
436 N Hall St	0.69mi	3/1.0	1,150 (-0%)	6mo	$140,000	$122	62
924 Wyoming St	0.71mi	3/2.0	1,139 (-2%)	1mo	$263,500	$231	60
749 S Hall St	0.48mi	3/2.0	1,244 (+8%)	2mo	$228,000	$183	59
1135 W Court St	0.61mi	3/1.0	1,248 (+8%)	3mo	$195,000	$156	56
518 Oak St	0.48mi	3/1.0	1,296 (+12%)	4mo	$187,000	$144	54
237 N Fountain	0.56mi	3/1.0	1,290 (+12%)	3mo	$135,000	$105	52
121 S Blank St	0.62mi	3/1.0	1,046 (-10%)	5mo	$160,000	$153	51
384 W Gordon St	0.71mi	3/1.0	1,266 (+10%)	2mo	$200,000	$158	50
172 Chestnut St	0.75mi	3/1.0	1,064 (-8%)	3mo	$197,000	$185	50
127 Bryan St	0.70mi	3/1.0	1,036 (-10%)	3mo	$150,000	$145	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-1.94% appreciation · 3.36% rent growth · sell at horizon

5-year hold

• IRR: 12.0%
• Equity multiple: 1.51×
• Total profit: $19,978
• Equity at exit: $27,557

10-year hold

• IRR: 19.6%
• Equity multiple: 2.84×
• Total profit: $71,833
• Equity at exit: $23,939

Cash invested: $39,144 (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 18101

• Home prices YoY: -0.6%
• Rents YoY: 3.4%
• Active inventory: 7
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,907 high
• Mortgage (P&I): −$733
• Tax from tax record: −$156 /mo · $1,871/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $559

Break-even live

Break-even rent $1,199

Max offer price $139,800

Occupancy floor 66%

Sensitivity live

Price	-10% $638	-5% $599	+0% $559	+5% $520	+10% $480
Rent	-10% $408	-5% $484	+0% $559	+5% $634	+10% $710
Rate	-1.0pp $630	-0.5pp $595	base $559	+0.5pp $523	+1.0pp $486

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: $34,950
• Closing costs: $4,194
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
818 Walnut St Apt 5 Allentown, PA	2.0	1.0	936	$1,450	$1.55	20d	1	0.18mi
26 N 6th St Allentown, PA	1.0–2.0	1.0–2.0	953	$2,224	$2.33	4d	9	0.27mi
45 N 6th St Allentown, PA	2.0	1.0–2.0	1002	$3,616	$3.61	4d	13	0.27mi
27 N 7th St Allentown, PA	2.0	1.0–2.0	840	$2,222	$2.64	4d	11	0.27mi
835 Hamilton St Unit 608 Allentown, PA	2.0	2.0	1411	$2,725	$1.93	15d	1	0.29mi
835 Hamilton St Unit 409 Allentown, PA	2.0	2.0	1052	$2,374	$2.26	20d	1	0.29mi
835 Hamilton St Unit 424 Allentown, PA	2.0	2.0	1411	$2,625	$1.86	15d	1	0.29mi
835 Hamilton St Unit 509 Allentown, PA	2.0	2.0	1052	$2,399	$2.28	20d	1	0.30mi
107 N 7th St Allentown, PA	2.0	1.0–2.0	855	$2,972	$3.47	4d	23	0.30mi
932 W Hamilton St Allentown, PA	2.0	1.0–2.0	862	$2,350	$2.73	4d	15	0.35mi
827 Linden St Unit 829-1 Allentown, PA	2.0	2.0	1200	$1,495	$1.25	22d	1	0.35mi
829 Linden St Apt 1 Rear Allentown, PA	2.0	2.0	1200	$1,495	$1.25	25d	1	0.36mi
144 N 7th St Allentown, PA	2.0	1.0	850	$1,595	$1.88	25d	1	0.37mi
832 Chestnut St Allentown, PA	3.0	1.0	1124	$2,100	$1.87	25d	1	0.38mi
621 W Turner St Apt 14 Allentown, PA	3.0	1.0	800	$1,395	$1.74	25d	1	0.39mi
209 N Eighth St Apt 2 Allentown, PA	3.0	1.0	1430	$1,550	$1.08	45d	1	0.42mi
218 N 6th St Apt 3 Allentown, PA	3.0	1.0	750	$1,600	$2.13	25d	1	0.42mi
626 Oak St Allentown, PA	3.0	1.0	1396	$1,900	$1.36	45d	1	0.43mi
25 N 10th St Allentown, PA	2.0	1.0	717	$1,475	$2.06	45d	1	0.43mi
1010 W Hamilton St Allentown, PA	1.0–2.0	1.0–2.0	943	$2,022	$2.14	4d	6	0.45mi
120 N 4th St Unit 2 Allentown, PA	2.0	1.0	780	$1,475	$1.89	45d	1	0.45mi
622 W Chew St Unit 2 Allentown, PA	3.0	1.0	1161	$1,600	$1.38	20d	1	0.47mi
1046 Walnut St Unit 1 Allentown, PA	2.0	1.0	972	$1,500	$1.54	25d	1	0.48mi
748 S Hall St Unit 1 Allentown, PA	3.0	1.5	1183	$2,000	$1.69	25d	1	0.50mi
1036 Linden St #2 Allentown, PA	2.0	1.0	1200	$1,600	$1.33	4d	1	0.52mi
45 N 11th St Unit 3 Allentown, PA	2.0	1.0	900	$1,250	$1.39	4d	1	0.54mi
1039 E St Unit Linden St unit Apt Allentown, PA	2.0	1.0	1200	$1,500	$1.25	25d	1	0.54mi
347 N 7th St Apt 3 Allentown, PA	3.0	1.0	1200	$1,500	$1.25	45d	1	0.58mi
702 Saint John St Apt 3 Allentown, PA	2.0	1.0	896	$1,400	$1.56	4d	1	0.58mi
144 S 12th St Allentown, PA	4.0	2.0	1242	$2,000	$1.61	4d	1	0.60mi
229 Peach St Allentown, PA	3.0	2.0	882	$1,800	$2.04	15d	1	0.63mi
1145 Linden St Apt 2 Allentown, PA	3.0	1.0	971	$1,525	$1.57	25d	1	0.65mi
432 N Law St Allentown, PA	4.0	1.0	1328	$1,500	$1.13	15d	1	0.66mi
944 W Gordon St Allentown, PA	3.0	1.5	1146	$1,750	$1.53	25d	1	0.66mi
427 N 5th St Unit 2 Allentown, PA	2.0	1.0	800	$1,400	$1.75	15d	1	0.67mi
440 N Hall St Unit 2 Allentown, PA	2.0	1.0	989	$1,400	$1.42	45d	1	0.67mi
407 N 4th St Allentown, PA	3.0	1.5	1321	$1,550	$1.17	25d	1	0.69mi
1210 W Turner St Unit 1 Allentown, PA	2.0	2.0	1200	$2,300	$1.92	45d	1	0.72mi
1210 W Turner St Unit 1 Allentown, PA	2.0	2.0	1200	$2,050	$1.71	25d	1	0.72mi
1210 W Turner St Unit 2 Allentown, PA	2.0	2.0	1500	$1,900	$1.27	4d	1	0.72mi

Listing history 16 events

1. 2026-06-22
   days on market $139,800 Active 30 DOM
2. 2026-06-18
   days on market $139,800 Active 27 DOM
3. 2026-06-17
   days on market $139,800 Active 26 DOM
4. 2026-06-16
   days on market $139,800 Active 25 DOM
5. 2026-06-15
   days on market $139,800 Active 24 DOM
6. 2026-06-14
   days on market $139,800 Active 22 DOM
7. 2026-06-10
   pricedays on market $139,800 Active 19 DOM
8. 2026-06-09
   days on market $139,900 Active 18 DOM
9. 2026-06-08
   days on market $139,900 Active 17 DOM
10. 2026-06-07
    days on market $139,900 Active 16 DOM
11. 2026-06-03
    days on market $139,900 Active 12 DOM
12. 2026-06-02
    days on market $139,900 Active 11 DOM
13. 2026-06-01
    days on market $139,900 Active 10 DOM
14. 2026-05-31
    days on market $139,900 Active 9 DOM
15. 2026-05-31
    days on market $139,900 Active 8 DOM
16. 2026-05-22
    listed $139,900 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: $1,871 · $156/mo
• Projected year-2 tax: $2,040 · $170/mo
• Expected delta: +$169/yr (+$14/mo · 9.0%)

ⓘ 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 2/10 Low
• 🌡 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,882
• − Mortgage interest: −$7,831
• − Property taxes: −$1,871
• − Insurance: −$699
• − Repairs & maintenance: −$1,831
• − Management: −$1,831
• − Depreciation: −$4,067
• Taxable income: $4,753
• Est. tax owed @ 24.0%: −$1,141
• After-tax cash flow: $5,569/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): 6,120
• Household income: $44,773
• Rent vs Own: 91.7% rent · 8.3% own
• Severe rent burden: 660.0

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 0.66)
• Race & ethnicity: Hispanic / Latino 47% Black 27% Two or more races 23% White 22% Asian 3%
• Hispanic origin (detail): Puerto Rican 25% Dominican 13%
• Common ancestry: Romanian 3% Polish 1% Dutch 1%
• Foreign-born: 13% · Canada, South Korea
• Languages at home: 61% English-only · Spanish 35% Other Indo-European 1% Russian/Polish/Slavic 1%

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: ▼ -1.94%
• Current HPI: 326.4766
• Rent YoY: ▲ 3.36%
• 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

• 2026-05-22 Listed $139,900 GLVRMLS

Property tax history

-1.9%/yr

Latest (2026): $1,871 · +0.8% YoY. Source: county tax records.