1962 Glendale Ave · Bethlehem, PA 18018

$220,000

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 127 Days on market

Built 1922 984 sqft lot Est $306k · 28% under

---

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).

• ARV discount +15.0/15.0
• Cash flow +12.0/30.0
• Livability +4.1/5.0
• DSCR +3.5/10.0
• Schools +3.5/10.0
• 1% rule +2.8/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Stabilized, all-brick single-family rental in Bethlehem with a fenced yard , producing $21,540 gross and $18,603 net annually, offering durable income with minimal operational risk. This 2-bedroom / 1-bath is situated in a high-demand residential pocket and is currently tenant-occupied with a lease in place through August 2025, providing near-term income visibility. In-place rents of $1,795 per month are supported by local market fundamentals, with modest upside at renewal. Operating expenses are conservatively underwritten, and the property benefits from limited maintenance exposure, and consistent tenant performance. Tenants pay for all utilities. Landlord is only responsible for Taxes and Insurance. This is a straightforward, low-friction hold requiring no heavy capital investment or operational complexity. Ideal for investors seeking predictable income, modest rent growth, and long-term appreciation in the Bethlehem market.

Key facts

• Fenced yard
• Single-family rental
• Built 1922

Tags

• FENCED YARD
• SINGLE-FAMILY RENTAL
• HIGH-DEMAND RESIDENTIAL POCKET

🏷️ Possibly a rental listed for sale. The $220,000 price doesn't fit this home's estimated sale value (~$306,323) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-53 ($-634/yr) — negative.
• To cash-flow at today's rent, offer at most $211k (4.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $172k (21.8% below list).
• Recommended offer: $172k (21.8% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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; 19 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 $2k of loan paydown is wiped out by about $7k 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 127 days — a 12% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 3 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 $48k; list at $220k implies a 358% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1922 — 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 $172,046 (21.8% 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 127 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.78% ✗
• Cap rate: 6.00%
• Cash-on-cash: -1.03%
• DSCR: 0.95
• GRM: 10.7

CMA / ARV

• ARV (median comp): $306,323
• List price: $220,000
• Delta: -28.18%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
701 Pike St	0.10mi	2/1.0	832 (-4%)	1mo	$205,000	$246	88
1902 Ritter St	0.10mi	2/1.0	936 (+8%)	12mo	$228,960	$245	72

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 · 0.85% rent growth · sell at horizon

5-year hold

• IRR: -20.3%
• Equity multiple: 0.31×
• Total profit: $-42,701
• Equity at exit: $32,803

10-year hold

• IRR: -18.5%
• Equity multiple: 0.09×
• Total profit: $-56,004
• Equity at exit: $19,022

Cash invested: $61,600 (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: 10.7×

Monthly cashflow live

• Estimated rent: $1,720 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$167 /mo · $2,000/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $-53

Break-even live

Break-even rent $1,787

Max offer price $210,661

Occupancy floor 98%

Sensitivity live

Price	-10% $72	-5% $9	+0% $-53	+5% $-115	+10% $-177
Rent	-10% $-189	-5% $-121	+0% $-53	+5% $15	+10% $83
Rate	-1.0pp $58	-0.5pp $3	base $-53	+0.5pp $-110	+1.0pp $-168

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 19 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	0.14mi
967 Stratford St Bethlehem, PA	3.0	1.0	938	$850	$0.91	45d	1	0.50mi
1345 Martin Ct Bethlehem, PA	1.0–2.0	1.0–2.0	1184	$2,370	$2.00	4d	8	0.83mi
1701 E Greenleaf St Apt 3 Allentown, PA	1.0	1.0	725	$1,375	$1.90	45d	1	0.87mi
801 W Broad St Unit 3 Bethlehem, PA	1.0	1.0	700	$1,699	$2.43	16d	1	1.06mi
606 W Broad St Unit F Bethlehem, PA	1.0	1.0	752	$1,400	$1.86	45d	1	1.19mi
2010B Pinehurst Ct Allentown, PA	1.0–2.0	1.0	844	$1,850	$2.19	4d	6	1.26mi
1818 Catasauqua Rd Bethlehem, PA	1.0–3.0	1.0–2.0	1007	$2,259	$2.24	45d	9	1.26mi
1207 E Congress St Allentown, PA	1.0–2.0	1.0–1.5	749	$1,745	$2.33	4d	43	1.29mi
511 Prospect Ave Unit 7 Bethlehem, PA	2.0	2.0	800	$1,995	$2.49	4d	1	1.30mi
565 W Lehigh St Bethlehem, PA	1.0–2.0	1.0–2.0	875	$1,950	$2.23	45d	1	1.33mi
2104 Westgate Dr Bethlehem, PA	1.0–2.0	1.0	795	$1,620	$2.04	4d	5	1.38mi
949 E Linden St Allentown, PA	2.0	2.0	880	$1,795	$2.04	16d	1	1.41mi
2132 Pennsylvania Ave Unit 00 B- 7 Bethlehem, PA	2.0	1.0	956	$1,695	$1.77	16d	1	1.44mi
2132 Pennsylvania Ave Unit 00 K- 7 Bethlehem, PA	1.0	1.0	740	$1,600	$2.16	16d	1	1.44mi
540 2nd Ave Unit 4 Bethlehem, PA	2.0	1.0	800	$1,550	$1.94	16d	1	1.44mi
542 2nd Ave Unit 1 Bethlehem, PA	1.0	1.0	590	$1,550	$2.63	16d	1	1.44mi
2252 Catasauqua Rd Bethlehem, PA	1.0–2.0	1.0	767	$1,829	$2.38	4d	22	1.46mi
320 2nd Ave Bethlehem, PA	3.0	1.0	1024	$1,950	$1.90	4d	1	1.47mi

Listing history 14 events

1. 2026-06-08
   days on market $220,000 Active 127 DOM
2. 2026-06-07
   days on market $220,000 Active 126 DOM
3. 2026-06-03
   days on market $220,000 Active 122 DOM
4. 2026-06-02
   days on market $220,000 Active 121 DOM
5. 2026-06-01
   days on market $220,000 Active 120 DOM
6. 2026-05-31
   days on market $220,000 Active 119 DOM
7. 2026-05-31
   days on market $220,000 Active 118 DOM
8. 2026-03-31
   price $220,000 941-char remark

   Show marketing remark (941 chars)

   Stabilized, all-brick single-family rental in Bethlehem with a fenced yard , producing $21,540 gross and $18,603 net annually, offering durable income with minimal operational risk. This 2-bedroom / 1-bath is situated in a high-demand residential pocket and is currently tenant-occupied with a lease in place through August 2025, providing near-term income visibility. In-place rents of $1,795 per month are supported by local market fundamentals, with modest upside at renewal. Operating expenses are conservatively underwritten, and the property benefits from limited maintenance exposure, and consistent tenant performance. Tenants pay for all utilities. Landlord is only responsible for Taxes and Insurance. This is a straightforward, low-friction hold requiring no heavy capital investment or operational complexity. Ideal for investors seeking predictable income, modest rent growth, and long-term appreciation in the Bethlehem market.

9. 2026-03-30
   price $220,000 940-char remark

   Show marketing remark (940 chars)

   Stabilized, all-brick single-family rental in Bethlehem with a fenced yard, producing $21,540 gross and $18,603 net annually, offering durable income with minimal operational risk. This 2-bedroom / 1-bath is situated in a high-demand residential pocket and is currently tenant-occupied with a lease in place through August 2025, providing near-term income visibility. In-place rents of $1,795 per month are supported by local market fundamentals, with modest upside at renewal. Operating expenses are conservatively underwritten, and the property benefits from limited maintenance exposure, and consistent tenant performance. Tenants pay for all utilities. Landlord is only responsible for Taxes and Insurance. This is a straightforward, low-friction hold requiring no heavy capital investment or operational complexity. Ideal for investors seeking predictable income, modest rent growth, and long-term appreciation in the Bethlehem market.

10. 2026-03-30
    listed $220,000 Active

    Show marketing remark (940 chars)

    Stabilized, all-brick single-family rental in Bethlehem with a fenced yard, producing $21,540 gross and $18,603 net annually, offering durable income with minimal operational risk. This 2-bedroom / 1-bath is situated in a high-demand residential pocket and is currently tenant-occupied with a lease in place through August 2025, providing near-term income visibility. In-place rents of $1,795 per month are supported by local market fundamentals, with modest upside at renewal. Operating expenses are conservatively underwritten, and the property benefits from limited maintenance exposure, and consistent tenant performance. Tenants pay for all utilities. Landlord is only responsible for Taxes and Insurance. This is a straightforward, low-friction hold requiring no heavy capital investment or operational complexity. Ideal for investors seeking predictable income, modest rent growth, and long-term appreciation in the Bethlehem market.

11. 2026-02-01
    listed $230,000 Active 941-char remark

    Show marketing remark (941 chars)

    Stabilized, all-brick single-family rental in Bethlehem with a fenced yard , producing $21,540 gross and $18,603 net annually, offering durable income with minimal operational risk. This 2-bedroom / 1-bath is situated in a high-demand residential pocket and is currently tenant-occupied with a lease in place through August 2025, providing near-term income visibility. In-place rents of $1,795 per month are supported by local market fundamentals, with modest upside at renewal. Operating expenses are conservatively underwritten, and the property benefits from limited maintenance exposure, and consistent tenant performance. Tenants pay for all utilities. Landlord is only responsible for Taxes and Insurance. This is a straightforward, low-friction hold requiring no heavy capital investment or operational complexity. Ideal for investors seeking predictable income, modest rent growth, and long-term appreciation in the Bethlehem market.

12. 2026-01-21
    listed $230,000 Active 940-char remark

    Show marketing remark (940 chars)

    Stabilized, all-brick single-family rental in Bethlehem with a fenced yard, producing $21,540 gross and $18,603 net annually, offering durable income with minimal operational risk. This 2-bedroom / 1-bath is situated in a high-demand residential pocket and is currently tenant-occupied with a lease in place through August 2025, providing near-term income visibility. In-place rents of $1,795 per month are supported by local market fundamentals, with modest upside at renewal. Operating expenses are conservatively underwritten, and the property benefits from limited maintenance exposure, and consistent tenant performance. Tenants pay for all utilities. Landlord is only responsible for Taxes and Insurance. This is a straightforward, low-friction hold requiring no heavy capital investment or operational complexity. Ideal for investors seeking predictable income, modest rent growth, and long-term appreciation in the Bethlehem market.

13. 2023-04-12
    soldstatus $48,000
14. 1996-12-16
    soldstatus $26,700

ⓘ 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: $2,000 · $167/mo
• Projected year-2 tax: $2,738 · $228/mo
• Expected delta: +$738/yr (+$62/mo · 36.9%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $20,646
• − Mortgage interest: −$12,323
• − Property taxes: −$2,000
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,652
• − Management: −$1,652
• − Depreciation: −$6,400
• Taxable loss: −$4,481
• Est. tax savings @ 24.0%: +$1,075
• After-tax cash flow: $441/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

+724.0% since first listed

7 events — show timeline

• 2026-03-31 Price Changed $220,000 BRIGHT MLS
• 2026-03-30 Price Changed $220,000 GLVRMLS
• 2026-03-30 Listed $220,000 GLVRMLS
• 2026-02-01 Listed $230,000 BRIGHT MLS
• 2026-01-21 Listed $230,000 GLVRMLS
• 2023-04-12 Sold (Public Records) $48,000 Public Records
• 1996-12-16 Sold (Public Records) $26,700 Public Records

Property tax history

+1.6%/yr

Latest (2026): $2,000 · +2.4% YoY. Source: county tax records.