2010 Glendale Ave Unit A1 · Bethlehem, PA 18018

$209,000

2 bd · 1.0 ba · 860 sqft · Condo public records · 43 Days on market

Built 1990 $243/sqft · 8% below area Est $227k · 8% under

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Why this score? — see what drove the D 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 +11.2/30.0
• ARV discount +11.0/15.0
• Livability +4.1/5.0
• Schools +3.5/10.0
• DSCR +3.3/10.0
• 1% rule +3.1/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This updated 2-bedroom, 1-bath residence offers the perfect blend of comfort and convenience. Step inside to fresh paint and new LVP flooring throughout, with a functional eat-in kitchen and dining space featuring new appliances. The spacious living room opens to a wooden deck through a sliding glass door, offering a natural extension of your living space. You’ll also love the convenience of in-unit laundry located in the full bathroom, plus ample closet space for storage. Enjoy comfortable bedrooms, including a primary with a double closet. A move-in-ready home with updates already done, just unpack and enjoy.

Key facts

• 2 parking spots
• Built 1990
• Listed 43 days

Property features AI

Finance

• HOA & community: Association fee: $250 monthly

Exterior

• Parking: 2-car garage; Off-street parking
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Single-story; RT zoning
• Construction: Brick and vinyl siding exterior; Asphalt/fiberglass roof; Year built: unknown
• Exterior features: Patio; Flat lot

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Refrigerator
• Bedrooms: Total rooms: 4
• Flooring: Luxury vinyl; Luxury vinyl plank
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Electric heating; Heat pump; Central air conditioning
• Interior features: Dining area; Smoke detector(s)
• Laundry & utility: Washer hookup; Dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $209k.

Deal economics

• At list price, monthly cash flow is $-81 ($-966/yr) — negative.
• To cash-flow at today's rent, offer at most $195k (6.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (18.9% below list).
• Recommended offer: $170k (18.9% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 4.3% in Bethlehem — 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 82/100 on livability (#138 in PA, #1,122 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: commute F.
• Bethlehem Area SD (urban): math 31% / reading 49% proficiency, ranked #342 of 539 in PA (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Clearview El Sch (math 32% / reading 62%, grade D-, #737 of 1,518 statewide, top 52%, 382 students, 63% FRL); Nitschmann Ms (math 20% / reading 44%, grade F, #362 of 512 statewide, top 71%, 781 students, 48% FRL); Liberty Hs (math 36% / reading 10%, grade F, #382 of 437 statewide, top 87%, 2,640 students, 50% FRL).
• Market conditions: Rents flat; 105 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 765 units permitted in Lehigh County in 2024 (286 in 5+ unit buildings).

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.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($203k) is reasonable based on typical stale-listing flexibility.
• 4 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.
• Current owner paid $146k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $169,507 (18.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.81% ✗
• Cap rate: 5.83%
• Cash-on-cash: -1.65%
• DSCR: 0.93
• GRM: 10.3

CMA / ARV

• ARV (median comp): $226,813
• List price: $209,000
• Delta: -7.85%
• Verdict: FAIR
• Comps: 18 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.85% rent growth · sell at horizon

5-year hold

• IRR: -21.4%
• Equity multiple: 0.27×
• Total profit: $-42,574
• Equity at exit: $31,163

10-year hold

• IRR: -20.9%
• Equity multiple: 0.01×
• Total profit: $-57,742
• Equity at exit: $18,071

Cash invested: $58,520 (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 18018

• Rents YoY: 0.8%
• Active inventory: 105
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,695 high
• Mortgage (P&I): −$1,096
• Tax from tax record: −$237 /mo · $2,838/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $-81

Break-even live

Break-even rent $1,797

Max offer price $194,779

Occupancy floor 100%

Sensitivity live

Price	-10% $38	-5% $-21	+0% $-81	+5% $-140	+10% $-199
Rent	-10% $-214	-5% $-147	+0% $-81	+5% $-14	+10% $53
Rate	-1.0pp $25	-0.5pp $-27	base $-81	+0.5pp $-135	+1.0pp $-190

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: $52,250
• Closing costs: $6,270
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
426 Keystone Ave Apt 2A Bethlehem, PA	1.0	1.0	700	$1,500	$2.14	16d	1	0.09mi
967 Stratford St Bethlehem, PA	3.0	1.0	938	$850	$0.91	45d	1	0.53mi
1701 E Greenleaf St Apt 3 Allentown, PA	1.0	1.0	725	$1,375	$1.90	45d	1	0.82mi
1345 Martin Ct Bethlehem, PA	1.0–2.0	1.0–2.0	1184	$2,370	$2.00	4d	8	0.87mi
801 W Broad St Unit 3 Bethlehem, PA	1.0	1.0	700	$1,699	$2.43	16d	1	1.11mi
2010B Pinehurst Ct Allentown, PA	1.0–2.0	1.0	844	$1,850	$2.19	4d	6	1.22mi
1207 E Congress St Allentown, PA	1.0–2.0	1.0–1.5	749	$1,745	$2.33	4d	43	1.24mi
606 W Broad St Unit F Bethlehem, PA	1.0	1.0	752	$1,400	$1.86	45d	1	1.24mi
1818 Catasauqua Rd Bethlehem, PA	1.0–3.0	1.0–2.0	1007	$2,259	$2.24	45d	9	1.27mi
511 Prospect Ave Unit 7 Bethlehem, PA	2.0	2.0	800	$1,995	$2.49	4d	1	1.35mi
949 E Linden St Allentown, PA	2.0	2.0	880	$1,795	$2.04	16d	1	1.37mi
565 W Lehigh St Bethlehem, PA	1.0–2.0	1.0–2.0	875	$1,950	$2.23	45d	1	1.38mi
2104 Westgate Dr Bethlehem, PA	1.0–2.0	1.0	795	$1,620	$2.04	4d	5	1.40mi
2132 Pennsylvania Ave Unit 00 B- 7 Bethlehem, PA	2.0	1.0	956	$1,695	$1.77	16d	1	1.42mi
2132 Pennsylvania Ave Unit 00 K- 7 Bethlehem, PA	1.0	1.0	740	$1,600	$2.16	16d	1	1.42mi
2252 Catasauqua Rd Bethlehem, PA	1.0–2.0	1.0	767	$1,829	$2.38	4d	22	1.45mi
540 2nd Ave Unit 4 Bethlehem, PA	2.0	1.0	800	$1,550	$1.94	16d	1	1.49mi
542 2nd Ave Unit 1 Bethlehem, PA	1.0	1.0	590	$1,550	$2.63	16d	1	1.50mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-22
   days on marketlisting id $209,000 Pending 43 DOM
2. 2026-06-14
   statusdays on marketlisting id $209,000 Pending 26 DOM
3. 2026-06-10
   days on market $209,000 Active 33 DOM
4. 2026-06-09
   days on market $209,000 Active 32 DOM
5. 2026-06-08
   days on market $209,000 Active 31 DOM
6. 2026-06-07
   days on market $209,000 Active 30 DOM
7. 2026-06-03
   days on market $209,000 Active 26 DOM
8. 2026-06-02
   days on market $209,000 Active 25 DOM
9. 2026-06-01
   days on market $209,000 Active 24 DOM
10. 2026-05-31
    days on market $209,000 Active 23 DOM
11. 2026-05-31
    days on market $209,000 Active 22 DOM
12. 2026-05-08
    listed $209,000 Active 624-char remark

    Show marketing remark (624 chars)

    This updated 2-bedroom, 1-bath residence offers the perfect blend of comfort and convenience. Step inside to fresh paint and new LVP flooring throughout, with a functional eat-in kitchen and dining space featuring new appliances. The spacious living room opens to a wooden deck through a sliding glass door, offering a natural extension of your living space. You’ll also love the convenience of in-unit laundry located in the full bathroom, plus ample closet space for storage. Enjoy comfortable bedrooms, including a primary with a double closet. A move-in-ready home with updates already done, just unpack and enjoy.

13. 2026-05-08
    listed $209,000 Active 624-char remark

    Show marketing remark (624 chars)

    This updated 2-bedroom, 1-bath residence offers the perfect blend of comfort and convenience. Step inside to fresh paint and new LVP flooring throughout, with a functional eat-in kitchen and dining space featuring new appliances. The spacious living room opens to a wooden deck through a sliding glass door, offering a natural extension of your living space. You’ll also love the convenience of in-unit laundry located in the full bathroom, plus ample closet space for storage. Enjoy comfortable bedrooms, including a primary with a double closet. A move-in-ready home with updates already done, just unpack and enjoy.

14. 2026-04-07
    historical
15. 2026-04-07
    historical
16. 2026-03-09
    price $224,900
17. 2026-03-06
    price $224,900
18. 2026-01-30
    listed $229,900 Active
19. 2026-01-30
    listed $229,900 Active
20. 2025-03-28
    soldstatus $145,750
21. 1991-04-01
    soldstatus $55,900

ⓘ 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: $2,838 · $237/mo
• Projected year-2 tax: $3,070 · $256/mo
• Expected delta: +$232/yr (+$19/mo · 8.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 17% 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: $20,341
• − Mortgage interest: −$11,707
• − Property taxes: −$2,838
• − Insurance: −$1,045
• − Repairs & maintenance: −$1,627
• − Management: −$1,627
• − Depreciation: −$6,080
• Taxable loss: −$4,584
• Est. tax savings @ 24.0%: +$1,100
• After-tax cash flow: $134/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: Bethlehem Area SD
• NCES district ID: 4203570
• Math proficiency: 31% ▼ -2.00%
• Reading proficiency: 49% ▼ -6.00%
• Median HH income: $55,124
• Composite: 34.92/100
• National rank: #5068
• State rank: #342 of 539 in PA

Livability — Bethlehem

• Score: 82/100
• State rank: #138
• US rank: #1122

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bethlehem, PA
• County: Lehigh County · 333,019 people
• City population: 129,661
• Metro: Allentown-Bethlehem-Easton, PA-NJ
• Population (ZIP): 32,965
• Household income: $75,417
• Rent vs Own: 46.8% rent · 53.2% own
• Severe rent burden: 1361.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 24% Two or more races 10% Black 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 14% Dominican 3%
• Common ancestry: Romanian 4% Italian 2% Polish 2%
• Foreign-born: 9% · Canada, Jamaica, China
• Languages at home: 81% English-only · Spanish 15% Other Indo-European 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: ▼ -211.46%
• Current HPI: 301.1699
• Rent YoY: ▲ 0.85%
• 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

+273.9% since first listed

11 events — show timeline

• 2026-06-03 Pending — GLVRMLS
• 2026-05-08 Listed $209,000 GLVRMLS
• 2026-05-08 Listed $209,000 GLVRMLS
• 2026-04-07 Listing Removed — GLVRMLS
• 2026-04-07 Listing Removed — GLVRMLS
• 2026-03-09 Price Changed $224,900 GLVRMLS
• 2026-03-06 Price Changed $224,900 GLVRMLS
• 2026-01-30 Listed $229,900 GLVRMLS
• 2026-01-30 Listed $229,900 GLVRMLS
• 2025-03-28 Sold (Public Records) $145,750 Public Records
• 1991-04-01 Sold (Public Records) $55,900 Public Records

Property tax history

+1.6%/yr

Latest (2026): $2,838 · +2.4% YoY. Source: county tax records.