815 Delair Ave · Philadelphia, PA 08110

$225,000

3 bd · 1.0 ba · 1,036 sqft · SingleFamily public records · 147 Days on market

Built 1928 2,396 sqft lot Est $277k · 19% under

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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 +23.1/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +6.4/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Spacious 3BD/1BTH located in the Delair section of Pennsauken. Charming brick facade with welcoming front porch. Walk-up attic accessible through third bedroom. Fully-fenced backyard. Property is currently tenant occupied but will be delivered vacant. Tenant requires at least 24 hours notice for showings.

Key facts

• Delair section
• Front porch
• Brick facade

Tags

• DELAIR SECTION
• BRICK FACADE
• FRONT PORCH
• WALK-UP ATTIC
• FULLY-FENCED BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $403 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $198k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 3.5% in Philadelphia — 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 77/100 on livability (#348 in PA, #3,054 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment C-, schools D+, crime F.
• Pennsauken Township Board Of Education School District (suburban): math 12% / reading 32% proficiency, ranked #410 of 472 in NJ (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 6 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,018 units permitted in Camden County in 2024 (509 in 5+ unit buildings).
• This rent runs 37% of the median local income ($84k/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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Camden County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 147 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 25y 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 $78k; list at $225k implies a 190% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $198,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 147 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 1.14% ✓
• Cap rate: 8.44%
• Cash-on-cash: 7.68%
• DSCR: 1.34
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $276,612
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7929 Stow Rd	0.22mi	3/1.0	1,056 (+2%)	12mo	$265,000	$251	76
925 Union Ave	0.35mi	3/1.0	1,008 (-3%)	4mo	$300,100	$298	76
234 Velde Ave	0.37mi	3/1.0	1,040 (+0%)	9mo	$235,000	$226	75
525 Derousse Ave	0.25mi	4/1.0 (+1)	1,074 (+4%)	12mo	$160,000	$149	67
7549 Boulevard Ave	0.31mi	3/2.0	1,002 (-3%)	19mo	$395,000	$394	60
7630 River Rd	0.08mi	3/2.0	1,152 (+11%)	18mo	$285,000	$247	58
8427 Balfour Rd	0.54mi	3/1.0	1,008 (-3%)	17mo	$271,000	$269	56
7527 Tripoli Ave	0.45mi	3/1.0	916 (-12%)	5mo	$249,900	$273	56
7325 Remington Ave	0.38mi	3/2.0	1,132 (+9%)	15mo	$302,000	$267	51
8444 Holman Ave	0.55mi	3/1.0	898 (-13%)	7mo	$249,900	$278	46
7319 Bannard Ave	0.32mi	3/1.5	1,187 (+15%)	17mo	$299,000	$252	45
8337 Bannard Ave	0.47mi	3/2.0	1,144 (+10%)	16mo	$300,000	$262	44

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -4.5%
• Equity multiple: 0.83×
• Total profit: $-10,708
• Equity at exit: $33,548

10-year hold

• IRR: 5.2%
• Equity multiple: 1.38×
• Total profit: $24,044
• Equity at exit: $19,454

Cash invested: $63,000 (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 08110

• Home prices YoY: -10.9%
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,554 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$341 /mo · $4,092/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$536
• Net cashflow: $403

Break-even live

Break-even rent $2,044

Max offer price $225,000

Occupancy floor 79%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8117 Stow Rd Pennsauken, NJ	3.0	1.0	1056	$2,450	$2.32	5d	1	0.27mi
7406 Jackson Ave Pennsauken, NJ	3.0	2.0	1344	$2,900	$2.16	17d	1	0.91mi
1535 Gross Ave Pennsauken, NJ	3.0	1.0	1272	$2,150	$1.69	24d	1	1.10mi
2277 Hollinshed Ave Pennsauken, NJ	3.0	1.5	1164	$2,400	$2.06	24d	1	1.32mi
5729 Irving Ave Pennsauken, NJ	3.0	1.5	1200	$2,150	$1.79	16d	1	1.44mi
6366 Rogers Ave Unit 3 Pennsauken Township, NJ	3.0	1.0	1100	$2,100	$1.91	24d	1	1.49mi

Listing history 20 events

1. 2026-04-07
   status Pending
2. 2025-12-23
   price $225,000
3. 2025-11-11
   listed $227,500 Active
4. 2016-11-01
   historical
5. 2014-04-01
   listed $60,000
6. 2012-08-28
   historical
7. 2012-07-01
   listed $108,000
8. 2012-06-06
   historical
9. 2011-06-13
   listed $105,000
10. 2011-06-10
    historical
11. 2011-02-15
    listed $115,000
12. 2010-12-31
    historical
13. 2010-02-10
    listed $115,000
14. 2010-02-07
    historical
15. 2009-08-07
    listed $130,000
16. 2003-10-21
    soldstatus $77,500
17. 2003-08-28
    soldstatus $77,500
18. 2003-06-18
    listed $77,500
19. 2002-06-15
    historical
20. 2001-11-12
    listed $74,900

ⓘ 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: $4,092 · $341/mo
• Projected year-2 tax: $4,092 · $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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,650
• − Mortgage interest: −$12,603
• − Property taxes: −$4,092
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,452
• − Management: −$2,452
• − Depreciation: −$6,545
• Taxable income: $1,380
• Est. tax owed @ 24.0%: −$331
• After-tax cash flow: $4,506/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: Pennsauken Township Board Of Education School District
• NCES district ID: 3412870
• Math proficiency: 12% ▼ -16.00%
• Reading proficiency: 32% ▼ -3.00%
• Median HH income: $60,336
• Composite: 20.48/100
• National rank: #8573
• State rank: #410 of 472 in NJ

Livability — Philadelphia

• Score: 77/100
• State rank: #348
• US rank: #3054

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Camden County
• City population: 1,559,001
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 19,158
• Household income: $83,729
• Rent vs Own: 27.7% rent · 72.3% own
• Severe rent burden: 404.0

Population outlook (Camden County) Hauer SSP2

• Today (2025): 507,964 people
• By 2030: 502,182 · -1.1%
• By 2040: 485,602 · -4.4%
• By 2050: 465,630 · -8.3%
• By 2075: 419,986 · -17.3%
• By 2100: 369,492 · -27.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: Hispanic / Latino 46% Black 30% White 14% Two or more races 13% Asian 7% Native American 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 17% Dominican 16%
• Common ancestry: Romanian 2% Hispanic 1% Iranian 1%
• Foreign-born: 28% · Canada, Vietnam, Jamaica
• Languages at home: 52% English-only · Spanish 35% Vietnamese 4% French/Haitian/Cajun 1%

Political lean MEDSL · Camden

• 2024 margin: Strong D (+27.4) · D 63.0% · R 35.5% · Other 1.5%
• 2008→2024 swing: -8.8pp toward R · 2008: 36.2pp · 2024: 27.4pp
• All cycles: 2024: D+27.4 2020: D+33.5 2016: D+32.4 2012: D+36.6 2008: D+36.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -53.44%
• Current HPI: 436.2879
• 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

+200.4% since first listed

20 events — show timeline

• 2026-04-07 Pending — BRIGHT MLS
• 2025-12-23 Price Changed $225,000 BRIGHT MLS
• 2025-11-11 Listed $227,500 BRIGHT MLS
• 2016-11-01 Listing Removed — BRIGHT MLS
• 2014-04-01 Listed $60,000 BRIGHT MLS
• 2012-08-28 Listing Removed — BRIGHT MLS
• 2012-07-01 Listed $108,000 BRIGHT MLS
• 2012-06-06 Listing Removed — BRIGHT MLS
• 2011-06-13 Listed $105,000 BRIGHT MLS
• 2011-06-10 Listing Removed — BRIGHT MLS
• 2011-02-15 Listed $115,000 BRIGHT MLS
• 2010-12-31 Listing Removed — BRIGHT MLS
• 2010-02-10 Listed $115,000 BRIGHT MLS
• 2010-02-07 Listing Removed — BRIGHT MLS
• 2009-08-07 Listed $130,000 BRIGHT MLS
• 2003-10-21 Sold (Public Records) $77,500 Public Records
• 2003-08-28 Sold (MLS) $77,500 BRIGHT MLS
• 2003-06-18 Listed $77,500 BRIGHT MLS
• 2002-06-15 Listing Removed — BRIGHT MLS
• 2001-11-12 Listed $74,900 BRIGHT MLS

Property tax history

+2.2%/yr

Latest (2025): $4,092 · +7.6% YoY. Source: county tax records.