633 Berwick St · Easton, PA 18042

$695,000

35 bd · 25.0 ba · 3,174 sqft · MultiFamily public records · 88 Days on market

Built 1900 3,920 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 5 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Multiple offers received. Highest and Best Offers by 2/25/21 at 12pm, noon! Get your offer in NOW on this Cash-flowing 5 unit with 5 car parking in Easton! This multi-unit has longstanding, paying tenants and can be a lucrative addition to your portfolio. Some units still have value-add opportunity. NEW fire system - 5 boilers with gas heat, separate meters, separate thermostats- 5 water meters (not separated water- but can be separated and water billed to tenants. ) Landlord pays water/sewer/trash. Tenants pay electric, gas stove, gas heat. BNI report will be provided to the buyer. Multiple Units for sale - call for details.

Key facts

• 3,920 sq ft lot
• 5 parking spots
• Built 1900

Tags

• 5 UNIT MULTIFAMILY PROPERTY
• 5 OFF STREET PARKING SPACES
• RECENTLY REPAINTED FIRE ESCAPE
• RECENTLY TURNED UNITS
• TENANT PAID UTILITIES

What this means for you Summary

Snapshot

• This is a 5 × 7-bed/5.0-bath units multifamily listed at $695k.

Deal economics

• At list price, monthly cash flow is $4k ($47k/yr) — positive. Per door: $784/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $695k).
• Recommended offer: $653k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.1% vs local median 4.2% in Easton — 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 84/100 on livability (#92 in PA, #667 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools C-.
• Easton Area SD (suburban): math 31% / reading 44% proficiency, ranked #364 of 539 in PA (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.9%/yr); 185 active listings in the ZIP; solid renter incomes; 567 units permitted in Northampton County in 2024 (151 in 5+ unit buildings).
• At $10,473/mo this rent would consume 162% of the median local household income ($78k/yr) (locally 1590% 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 $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $195k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($653k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 11y 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 $464k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $653,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.51% ✓
• Cap rate: 13.06%
• Cash-on-cash: 24.16%
• DSCR: 2.07
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.94% rent growth · sell at horizon

5-year hold

• IRR: 19.5%
• Equity multiple: 1.81×
• Total profit: $157,628
• Equity at exit: $103,627

10-year hold

• IRR: 29.0%
• Equity multiple: 3.81×
• Total profit: $547,059
• Equity at exit: $60,091

Cash invested: $194,600 (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 18042

• Rents YoY: 4.9%
• Active inventory: 185
• Price-to-rent: 27.7×

Monthly cashflow live

• Estimated rent: $10,473 medium
• Mortgage (P&I): −$3,645
• Tax from tax record: −$422 /mo · $5,059/yr
• Insurance: −$290
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,199
• Net cashflow: $3,918

Break-even live

Break-even rent $5,514

Max offer price $695,000

Occupancy floor 58%

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

Units	Beds	Baths	Est. rent
▸ 5× units	7	5	$10,475
Total (5 units)			$10,473

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: $173,750
• Closing costs: $20,850
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-04-19
   status Pending
2. 2026-01-21
   listed $695,000 Active
3. 2025-02-20
   historical $1,250
4. 2025-01-24
   price $1,250
5. 2025-01-09
   listed $1,350
6. 2021-04-16
   soldstatus $464,000 Sold 634-char remark

   Show marketing remark (634 chars)

   Multiple offers received. Highest and Best Offers by 2/25/21 at 12pm, noon! Get your offer in NOW on this Cash-flowing 5 unit with 5 car parking in Easton! This multi-unit has longstanding, paying tenants and can be a lucrative addition to your portfolio. Some units still have value-add opportunity. NEW fire system - 5 boilers with gas heat, separate meters, separate thermostats- 5 water meters (not separated water- but can be separated and water billed to tenants. ) Landlord pays water/sewer/trash. Tenants pay electric, gas stove, gas heat. BNI report will be provided to the buyer. Multiple Units for sale - call for details.

7. 2021-04-16
   soldstatus $464,000 634-char remark

   Show marketing remark (634 chars)

   Multiple offers received. Highest and Best Offers by 2/25/21 at 12pm, noon! Get your offer in NOW on this Cash-flowing 5 unit with 5 car parking in Easton! This multi-unit has longstanding, paying tenants and can be a lucrative addition to your portfolio. Some units still have value-add opportunity. NEW fire system - 5 boilers with gas heat, separate meters, separate thermostats- 5 water meters (not separated water- but can be separated and water billed to tenants. ) Landlord pays water/sewer/trash. Tenants pay electric, gas stove, gas heat. BNI report will be provided to the buyer. Multiple Units for sale - call for details.

8. 2021-03-02
   status Pending 634-char remark

   Show marketing remark (634 chars)

   Multiple offers received. Highest and Best Offers by 2/25/21 at 12pm, noon! Get your offer in NOW on this Cash-flowing 5 unit with 5 car parking in Easton! This multi-unit has longstanding, paying tenants and can be a lucrative addition to your portfolio. Some units still have value-add opportunity. NEW fire system - 5 boilers with gas heat, separate meters, separate thermostats- 5 water meters (not separated water- but can be separated and water billed to tenants. ) Landlord pays water/sewer/trash. Tenants pay electric, gas stove, gas heat. BNI report will be provided to the buyer. Multiple Units for sale - call for details.

9. 2021-02-20
   listed $439,700 634-char remark

   Show marketing remark (634 chars)

   Multiple offers received. Highest and Best Offers by 2/25/21 at 12pm, noon! Get your offer in NOW on this Cash-flowing 5 unit with 5 car parking in Easton! This multi-unit has longstanding, paying tenants and can be a lucrative addition to your portfolio. Some units still have value-add opportunity. NEW fire system - 5 boilers with gas heat, separate meters, separate thermostats- 5 water meters (not separated water- but can be separated and water billed to tenants. ) Landlord pays water/sewer/trash. Tenants pay electric, gas stove, gas heat. BNI report will be provided to the buyer. Multiple Units for sale - call for details.

10. 2021-02-18
    listed $439,700 Active 634-char remark

    Show marketing remark (634 chars)

    Multiple offers received. Highest and Best Offers by 2/25/21 at 12pm, noon! Get your offer in NOW on this Cash-flowing 5 unit with 5 car parking in Easton! This multi-unit has longstanding, paying tenants and can be a lucrative addition to your portfolio. Some units still have value-add opportunity. NEW fire system - 5 boilers with gas heat, separate meters, separate thermostats- 5 water meters (not separated water- but can be separated and water billed to tenants. ) Landlord pays water/sewer/trash. Tenants pay electric, gas stove, gas heat. BNI report will be provided to the buyer. Multiple Units for sale - call for details.

11. 2016-10-31
    soldstatus $175,900
12. 2016-10-28
    soldstatus $175,900 Sold
13. 2016-08-04
    status Pending
14. 2016-04-11
    listed $219,900 Active
15. 2015-10-31
    historical
16. 2015-08-04
    price $250,000
17. 2015-05-01
    listed $299,900 Active
18. 2006-01-31
    soldstatus $132,275
19. 1986-12-01
    soldstatus $67,000
20. 1986-07-01
    soldstatus $32,000

ⓘ 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: $5,059 · $422/mo
• Projected year-2 tax: $8,020 · $668/mo
• Expected delta: +$2,961/yr (+$247/mo · 58.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 15% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $125,676
• − Mortgage interest: −$38,931
• − Property taxes: −$5,059
• − Insurance: −$3,475
• − Repairs & maintenance: −$10,054
• − Management: −$10,054
• − Depreciation: −$20,218
• Taxable income: $37,884
• Est. tax owed @ 24.0%: −$9,092
• After-tax cash flow: $37,921/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: Easton Area SD
• NCES district ID: 4208850
• Math proficiency: 31% ▼ -2.00%
• Reading proficiency: 44% ▼ -11.00%
• Median HH income: $61,390
• Composite: 33.46/100
• National rank: #5457
• State rank: #364 of 539 in PA

Livability — Easton

• Score: 84/100
• State rank: #92
• US rank: #667

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Easton, PA
• County: Northampton County · 236,814 people
• City population: 75,961
• Metro: Allentown-Bethlehem-Easton, PA-NJ
• Population (ZIP): 45,532
• Household income: $77,556
• Rent vs Own: 45.0% rent · 55.0% own
• Severe rent burden: 1590.0

Population outlook (Northampton County) Hauer SSP2

• Today (2025): 312,227 people
• By 2030: 314,769 · +0.8%
• By 2040: 316,914 · +1.5%
• By 2050: 318,037 · +1.9%
• By 2075: 334,003 · +7.0%
• By 2100: 344,696 · +10.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 57% Hispanic / Latino 21% Black 12% Two or more races 12% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 7% Dominican 3%
• Common ancestry: Romanian 3% Polish 2% Iranian 1%
• Foreign-born: 13% · Canada, China, Jamaica
• Languages at home: 80% English-only · Spanish 15% Other Indo-European 1% Arabic 1%

Political lean MEDSL · Northampton

• 2024 margin: Toss-up / Even · D 48.6% · R 50.4%
• 2008→2024 swing: -14.1pp toward R · 2008: 12.3pp · 2024: -1.8pp
• All cycles: 2024: R+1.8 2020: D+0.7 2016: R+3.8 2012: D+4.6 2008: D+12.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -460.52%
• Current HPI: 254.8776
• Rent YoY: ▲ 4.94%
• 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

+2071.9% since first listed

20 events — show timeline

• 2026-04-19 Pending — GLVRMLS
• 2026-01-21 Listed $695,000 GLVRMLS
• 2025-02-20 Rental Removed $1,250 GLVRMLS
• 2025-01-24 Price Changed $1,250 GLVRMLS
• 2025-01-09 Listed for Rent $1,350 GLVRMLS
• 2021-04-16 Sold (MLS) $464,000 PMAR
• 2021-04-16 Sold (MLS) $464,000 GLVRMLS
• 2021-03-02 Pending — GLVRMLS
• 2021-02-20 Listed $439,700 PMAR
• 2021-02-18 Listed $439,700 GLVRMLS
• 2016-10-31 Sold (Public Records) $175,900 Public Records
• 2016-10-28 Sold (MLS) $175,900 GLVRMLS
• 2016-08-04 Pending — GLVRMLS
• 2016-04-11 Listed $219,900 GLVRMLS
• 2015-10-31 Listing Removed — GLVRMLS
• 2015-08-04 Price Changed $250,000 GLVRMLS
• 2015-05-01 Listed $299,900 GLVRMLS
• 2006-01-31 Sold (Public Records) $132,275 Public Records
• 1986-12-01 Sold (Public Records) $67,000 Public Records
• 1986-07-01 Sold (Public Records) $32,000 Public Records

Property tax history

+1.3%/yr

Latest (2026): $5,059 · +2.3% YoY. Source: county tax records.