205 Ebenezer Ave · Philadelphia, PA 19004

$274,900

2 bd · 1.0 ba · 1,256 sqft · SingleFamily public records · 291 Days on market

Built 1910 5,000 sqft lot $219/sqft · 32% below area Est $404k · 32% under

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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 +22.8/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• Schools +7.3/10.0
• 1% rule +6.0/10.0
• Livability +3.9/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * * * * DOUBLE LOT * * * * Investor and Builder Special! Rare opportunity in highly sought-after Bala Cynwyd / Lower Merion Township. This 1,256 sq. ft. , 2-bedroom, 1-bath single-family home and is being sold as-is with plans available for demolition and new construction of a stunning 2,500–2,700 sq. ft. residence. Located in the desirable Belmont Hills neighborhood, just minutes from top-rated Lower Merion schools, parks, trails, and easy access to Center City Philadelphia. Whether you’re an investor, builder, or homeowner ready to create your dream property, this is your chance to customize and maximize value in one of the Main Line’s most coveted communities.

Key facts

• Trails
• Double lot
• Parks

Tags

• DOUBLE LOT
• TOP-RATED LOWER MERION SCHOOLS
• PARKS
• TRAILS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $479 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $275k).
• Recommended offer: $242k (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.
• Lower Merion SD (suburban): math 74% / reading 84% proficiency, ranked #3 of 539 in PA (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+3.2%/yr); 57 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,936 units permitted in Montgomery County in 2024 (530 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 $8k of value loss. Plan a longer hold.
• Montgomery County population projected at +5% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 291 days — a 12% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $241,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 291 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 1910 — 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: 1.10% ✓
• Cap rate: 8.38%
• Cash-on-cash: 7.46%
• DSCR: 1.33
• GRM: 7.6

CMA / ARV

• ARV (median comp): $403,676
• List price: $274,900
• Delta: -31.90%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
139 Ebenezer Ave	0.02mi	3/3.0 (+1)	1,329 (+6%)	18mo	$350,000	$263	61
10 Price St	0.23mi	3/1.0 (+1)	1,140 (-9%)	22mo	$418,000	$367	50
4373 Cresson St Unit 3	0.74mi	3/2.0 (+1)	1,426 (+14%)	23mo	$225,000	$158	15

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 · 3.24% rent growth · sell at horizon

5-year hold

• IRR: -4.6%
• Equity multiple: 0.83×
• Total profit: $-13,266
• Equity at exit: $40,988

10-year hold

• IRR: 5.4%
• Equity multiple: 1.40×
• Total profit: $30,953
• Equity at exit: $23,768

Cash invested: $76,972 (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 19004

• Rents YoY: 3.2%
• Active inventory: 57
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $3,027 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$356 /mo · $4,276/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$636
• Net cashflow: $479

Break-even live

Break-even rent $2,421

Max offer price $274,900

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: $68,725
• Closing costs: $8,247
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
130 Rockland Ave Bala Cynwyd, PA	3.0	2.0	1458	$3,100	$2.13	5d	1	0.11mi
23 Rock Hill Rd Bala Cynwyd, PA	1.0–2.0	1.0–2.0	1132	$4,560	$4.03	2d	39	0.60mi
172 Conarroe St Philadelphia, PA	1.0–3.0	1.0–3.0	1300	$3,400	$2.62	24d	1	0.76mi
4525 Fleming St Apt 3 Philadelphia, PA	2.0–3.0	2.0–2.5	1749	$2,250	$1.29	2d	3	0.87mi
1637 Oakwood Dr Unit S122 Narberth, PA	3.0	2.5	1512	$3,695	$2.44	2d	1	1.22mi
1637 Oakwood Dr Penn Valley, PA	1.0–3.0	1.0–2.5	1185	$2,798	$2.36	12d	3	1.22mi
1640 Oakwood Dr Penn Valley, PA	1.0–3.0	1.0–2.0	1203	$2,745	$2.28	15d	2	1.30mi
1600 Hagys Ford Rd Unit 11V Penn Valley, PA	3.0	2.5	1509	$3,995	$2.65	18d	1	1.33mi
1600 Hagys Ford Rd Penn Valley, PA	1.0–3.0	1.5–2.5	1223	$3,048	$2.49	18d	3	1.35mi
600 Righters Ferry Rd Bala Cynwyd, PA	1.0–2.0	1.0–2.0	846	$2,950	$3.49	2d	10	1.37mi

Listing history 12 events

1. 2026-06-04
   days on market $274,900 Active 291 DOM
2. 2026-06-03
   days on market $274,900 Active 290 DOM
3. 2026-06-02
   days on market $274,900 Active 289 DOM
4. 2026-06-01
   days on market $274,900 Active 288 DOM
5. 2026-05-31
   days on market $274,900 Active 287 DOM
6. 2026-05-07
   status Active 699-char remark

   Show marketing remark (699 chars)

   * * * * * DOUBLE LOT * * * * Investor and Builder Special! Rare opportunity in highly sought-after Bala Cynwyd / Lower Merion Township. This 1,256 sq. ft. , 2-bedroom, 1-bath single-family home and is being sold as-is with plans available for demolition and new construction of a stunning 2,500–2,700 sq. ft. residence. Located in the desirable Belmont Hills neighborhood, just minutes from top-rated Lower Merion schools, parks, trails, and easy access to Center City Philadelphia. Whether you’re an investor, builder, or homeowner ready to create your dream property, this is your chance to customize and maximize value in one of the Main Line’s most coveted communities.

7. 2026-05-04
   historical 699-char remark

   Show marketing remark (699 chars)

   * * * * * DOUBLE LOT * * * * Investor and Builder Special! Rare opportunity in highly sought-after Bala Cynwyd / Lower Merion Township. This 1,256 sq. ft. , 2-bedroom, 1-bath single-family home and is being sold as-is with plans available for demolition and new construction of a stunning 2,500–2,700 sq. ft. residence. Located in the desirable Belmont Hills neighborhood, just minutes from top-rated Lower Merion schools, parks, trails, and easy access to Center City Philadelphia. Whether you’re an investor, builder, or homeowner ready to create your dream property, this is your chance to customize and maximize value in one of the Main Line’s most coveted communities.

8. 2026-01-06
   price $274,900 699-char remark

   Show marketing remark (699 chars)

   * * * * * DOUBLE LOT * * * * Investor and Builder Special! Rare opportunity in highly sought-after Bala Cynwyd / Lower Merion Township. This 1,256 sq. ft. , 2-bedroom, 1-bath single-family home and is being sold as-is with plans available for demolition and new construction of a stunning 2,500–2,700 sq. ft. residence. Located in the desirable Belmont Hills neighborhood, just minutes from top-rated Lower Merion schools, parks, trails, and easy access to Center City Philadelphia. Whether you’re an investor, builder, or homeowner ready to create your dream property, this is your chance to customize and maximize value in one of the Main Line’s most coveted communities.

9. 2025-11-03
   price $294,900 699-char remark

   Show marketing remark (699 chars)

   * * * * * DOUBLE LOT * * * * Investor and Builder Special! Rare opportunity in highly sought-after Bala Cynwyd / Lower Merion Township. This 1,256 sq. ft. , 2-bedroom, 1-bath single-family home and is being sold as-is with plans available for demolition and new construction of a stunning 2,500–2,700 sq. ft. residence. Located in the desirable Belmont Hills neighborhood, just minutes from top-rated Lower Merion schools, parks, trails, and easy access to Center City Philadelphia. Whether you’re an investor, builder, or homeowner ready to create your dream property, this is your chance to customize and maximize value in one of the Main Line’s most coveted communities.

10. 2025-08-14
    listed $300,000 Active 699-char remark

    Show marketing remark (699 chars)

    * * * * * DOUBLE LOT * * * * Investor and Builder Special! Rare opportunity in highly sought-after Bala Cynwyd / Lower Merion Township. This 1,256 sq. ft. , 2-bedroom, 1-bath single-family home and is being sold as-is with plans available for demolition and new construction of a stunning 2,500–2,700 sq. ft. residence. Located in the desirable Belmont Hills neighborhood, just minutes from top-rated Lower Merion schools, parks, trails, and easy access to Center City Philadelphia. Whether you’re an investor, builder, or homeowner ready to create your dream property, this is your chance to customize and maximize value in one of the Main Line’s most coveted communities.

11. 2024-03-13
    soldstatus $250,000
12. 1993-01-06
    soldstatus $81,000

ⓘ 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: $4,276 · $356/mo
• Projected year-2 tax: $4,310 · $359/mo
• Expected delta: +$34/yr (+$3/mo · 0.8%)

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

Taxation est. · year 1

• Rental income: $36,323
• − Mortgage interest: −$15,399
• − Property taxes: −$4,276
• − Insurance: −$1,374
• − Repairs & maintenance: −$2,906
• − Management: −$2,906
• − Depreciation: −$7,997
• Taxable income: $1,465
• Est. tax owed @ 24.0%: −$352
• After-tax cash flow: $5,394/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: Lower Merion SD
• NCES district ID: 4214160
• Math proficiency: 74% ▼ -5.00%
• Reading proficiency: 84% ▼ -4.00%
• Median HH income: $113,035
• Composite: 72.82/100
• National rank: #194
• State rank: #3 of 539 in PA

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: Montgomery County · 712,331 people
• City population: 1,559,001
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 11,230
• Household income: $149,232
• Rent vs Own: 28.1% rent · 71.9% own
• Severe rent burden: 245.0

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 856,074 people
• By 2030: 870,887 · +1.7%
• By 2040: 891,195 · +4.1%
• By 2050: 896,417 · +4.7%
• By 2075: 903,212 · +5.5%
• By 2100: 843,240 · -1.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Black 11% Asian 6% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Scotch-Irish 7% Romanian 5% Italian 3%
• Foreign-born: 13% · Canada, China, South Korea
• Languages at home: 87% English-only · Other Indo-European 3% Chinese 2% French/Haitian/Cajun 2%

Political lean MEDSL · Montgomery

• 2024 margin: Strong D (+22.8) · D 60.9% · R 38.1% · Other 1.1%
• 2008→2024 swing: +2.0pp toward D · 2008: 20.8pp · 2024: 22.8pp
• All cycles: 2024: D+22.8 2020: D+26.3 2016: D+21.1 2012: D+14.3 2008: D+20.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -477.60%
• Current HPI: 324.1722
• Rent YoY: ▲ 3.24%
• 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

+239.4% since first listed

7 events — show timeline

• 2026-05-07 Relisted — BRIGHT MLS
• 2026-05-04 Listing Removed — BRIGHT MLS
• 2026-01-06 Price Changed $274,900 BRIGHT MLS
• 2025-11-03 Price Changed $294,900 BRIGHT MLS
• 2025-08-14 Listed $300,000 BRIGHT MLS
• 2024-03-13 Sold (Public Records) $250,000 Public Records
• 1993-01-06 Sold (Public Records) $81,000 Public Records

Property tax history

+3.0%/yr

Latest (2026): $4,276 · +4.6% YoY. Source: county tax records.