129 Howertown Rd Unit 129 and 131 · Catasauqua, PA 18032

$430,000

6 bd · 4.0 ba · 6,140 sqft · MultiFamily · 14 Days on market

Built 1870 Fair condition 6,055 sqft lot $70/sqft · 7% below area Est $462k · 7% under ↓ 11% since listing

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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 +10.6/15.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• Livability +3.8/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• 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

Mixed-use bar/restaurant; (2) 2-3 bed apartments; 2-car detached garage. All in one in Catasauqua! Potential annual gross income of $88,800! Open up your dream bar/restaurant or keep it as a money maker and lease it out! Large bar/restaurant space has a fully equipped commercial kitchen, 2 bathroom, and two custom built real wood bar tops! There is a small bar space, game room area, restaurant seating area, and a larger main bar area. Both apartments have private entrances and they are both 2 stories! Very large apartments perfect for long or mid-term tenants. There is a detached 2-car garage that can be rented out as well. Liquor license not included in the sale; reach out to the listing a

Key facts

• Game room area
• Private entrances
• Detached garage

Tags

• PRIVATE ENTRANCES
• DETACHED GARAGE
• GAME ROOM AREA

Property features AI

Finance

• Financial info: Maintenance expense: $5,000; Operating expense: $22,000; Water/sewer expense: $2,300; Electric expense: $560; Insurance expense: $3,000; Other expenses: $1,200

Exterior

• Parking: Detached garage; On-street parking; Off-street parking; Total parking for 6 vehicles
• Utilities: Public water; Public sewer
• Home design: 3 stories
• Construction: Brick and stone construction
• Exterior features: Public records list lot size as 6,055 sq ft (0.139 acres); Zoning: R2

Interior

• Bedrooms: 3-unit building (total units: 3)
• Flooring: Hardwood
• Bathrooms: 4 full bathrooms (total)
• Heating & cooling: Electric heating; Gas heating; Wall/window cooling units
• Interior features: Hardwood floors

What this means for you Summary

Snapshot

• This is a 6-bed/4.0-bath multifamily listed at $430k. Condition is rated fair.

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 ($6k rent vs $430k).
• Cap rate 11.3% vs local median 4.9% in Catasauqua — 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 75/100 on livability (#443 in PA, #4,039 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities F, commute F.
• Catasauqua Area SD (suburban): math 23% / reading 41% proficiency, ranked #431 of 539 in PA (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 49 active listings in the ZIP; solid renter incomes; 765 units permitted in Lehigh County in 2024 (286 in 5+ unit buildings).
• At $6,017/mo this rent would consume 89% of the median local household income ($81k/yr) (locally 221% 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 (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k 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 + 3.0% rent growth), your $120k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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

• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $430,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1870 — 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. 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 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: 1.40% ✓
• Cap rate: 11.27%
• Cash-on-cash: 17.76%
• DSCR: 1.79
• GRM: 6.0

CMA / ARV

• ARV (median comp): $461,919
• List price: $430,000
• Delta: 5.00%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 9.3%
• Equity multiple: 1.36×
• Total profit: $43,896
• Equity at exit: $64,114

10-year hold

• IRR: 18.4%
• Equity multiple: 2.53×
• Total profit: $184,721
• Equity at exit: $37,179

Cash invested: $120,400 (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 18032

• Home prices YoY: -34.7%
• Active inventory: 49
• Price-to-rent: 17.9×

Monthly cashflow live

• Estimated rent: $6,017 medium
• Mortgage (P&I): −$2,255
• Tax est. 1.5%: −$538 /mo · $6,450/yr
• Insurance: −$179
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,264
• Net cashflow: $1,782

Break-even live

Break-even rent $3,762

Max offer price $430,000

Occupancy floor 65%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$6,018
Total (3 units)			$6,017

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: $107,500
• Closing costs: $12,900
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-03
   days on market $430,000 Active 14 DOM
2. 2026-06-02
   days on market $430,000 Active 13 DOM
3. 2026-06-01
   days on market $430,000 Active 12 DOM
4. 2026-05-31
   days on market $430,000 Active 11 DOM
5. 2026-05-31
   days on market $430,000 Active 10 DOM
6. 2026-05-16
   historical
7. 2026-05-13
   price $459,000
8. 2026-05-01
   listed $485,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $72,204
• − Mortgage interest: −$24,087
• − Property taxes: −$6,450
• − Insurance: −$2,150
• − Repairs & maintenance: −$5,776
• − Management: −$5,776
• − Depreciation: −$12,509
• Taxable income: $15,456
• Est. tax owed @ 24.0%: −$3,709
• After-tax cash flow: $17,672/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.

Condition & rehab AI · 13 photos

Fair 45/100 Extensive rehab

This property requires extensive renovations to bring it up to modern standards, but it has significant potential for resale and rental value with the right updates.

Repairs flagged

• Major Kitchen cabinets — Severe wear and tear, likely in need of replacement.
• Major Bathroom fixtures — Severe wear and tear, likely in need of replacement.
• Major Exterior siding — Peeling paint and general wear and tear, likely in need of replacement.
• Major Flooring — Severe wear and tear, likely in need of replacement.
• Major Paint — Severe wear and tear, likely in need of replacement.
• Major HVAC — No visible issues, but the age of the system is unknown.
• Major Electrical — No visible issues, but the age of the system is unknown.

Value-add opportunities

• Resale New kitchen cabinets and countertops — Fresh, modern kitchen will attract more buyers and increase the home's value.
• Resale New bathroom fixtures — Fresh, modern bathrooms will attract more buyers and increase the home's value.
• Resale New exterior siding and paint — Fresh, modern exterior will attract more buyers and increase the home's value.
• Resale New flooring — Fresh, modern flooring will attract more buyers and increase the home's value.
• Resale New paint — Fresh, modern paint will attract more buyers and increase the home's value.
• Resale New HVAC and electrical systems — Fresh, modern systems will attract more buyers and increase the home's value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Severe wear and tear, likely in need of replacement.	Major	$15,000–50,000
Bathroom fixtures · Severe wear and tear, likely in need of replacement.	Major	$15,000–50,000
Exterior siding · Peeling paint and general wear and tear, likely in need of replacement.	Major	$15,000–50,000
Flooring · Severe wear and tear, likely in need of replacement.	Major	$15,000–50,000
Paint · Severe wear and tear, likely in need of replacement.	Major	$15,000–50,000
HVAC · No visible issues, but the age of the system is unknown.	Major	$15,000–50,000
Electrical · No visible issues, but the age of the system is unknown.	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Resale New kitchen cabinets and countertops — Fresh, modern kitchen will attract more buyers and increase the home's value. ↑
• Resale New bathroom fixtures — Fresh, modern bathrooms will attract more buyers and increase the home's value. ↑
• Resale New exterior siding and paint — Fresh, modern exterior will attract more buyers and increase the home's value. ↑
• Resale New flooring — Fresh, modern flooring will attract more buyers and increase the home's value. ↑
• Resale New paint — Fresh, modern paint will attract more buyers and increase the home's value. ↑
• Resale New HVAC and electrical systems — Fresh, modern systems will attract more buyers and increase the home's value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Catasauqua Area SD
• NCES district ID: 4205160
• Math proficiency: 23% ▼ -15.00%
• Reading proficiency: 41% ▼ -21.00%
• Median HH income: $53,073
• Composite: 28.09/100
• National rank: #6832
• State rank: #431 of 539 in PA

Livability — Catasauqua

• Score: 75/100
• State rank: #443
• US rank: #4039

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Catasauqua, PA
• County: Lehigh County · 333,019 people
• City population: 9,555
• Metro: Allentown-Bethlehem-Easton, PA-NJ
• Population (ZIP): 9,555
• Household income: $81,098
• Rent vs Own: 25.1% rent · 74.9% own
• Severe rent burden: 221.0

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: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 15% Two or more races 12% Black 3%
• Hispanic origin (detail): Puerto Rican 10% Dominican 1%
• Common ancestry: Danish 4% Polish 3% Romanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 8%

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: ▼ -159.00%
• Current HPI: 299.4376
• Rent YoY: —
• 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

-11.3% since first listed

5 events — show timeline

• 2026-06-04 Listing Removed — GLVRMLS
• 2026-05-20 Listed $430,000 GLVRMLS
• 2026-05-16 Listing Removed — GLVRMLS
• 2026-05-13 Price Changed $459,000 GLVRMLS
• 2026-05-01 Listed $485,000 GLVRMLS