1001 City Ave Unit W-816 · Lower Merion, PA 19096

$167,000

2 bd · 2.0 ba · 1,222 sqft · Condo · 127 Days on market

Built 1962 Good condition $137/sqft · 24% below area Est $220k · 24% under $1092/mo HOA · 39% of rent ↓ 7% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +11.7/30.0
• 1% rule +10.0/10.0
• Schools +7.3/10.0
• Condition / age +3.8/5.0
• DSCR +3.5/10.0
• Livability +2.5/5.0
• Rent growth +0.7/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the coveted Green Hill community on 23 acres of lush landscaped grounds on the Main Line. Prepare to find great value with this spacious, 2 bedroom, 2 bathroom 1222 Sq. Ft. condominium home in the preferred West Building, poised for your personal touches and imagination. Embrace the warmth of natural light from the large windows in every room. This generously sized unit promises easy comfort and living with an eat in kitchen, opening up to a significantly sized living room. Enjoy your morning cup of tea and your daily sunrise on your private balcony off the dining/breakfast area, overlooking a park like setting year round. Enjoy the convenience of in unit washer and dryer. Discover an abundance of storage throughout including a storage area in the lower level. This best value on the Main Line also includes all utilities built into the condo fee (except cable and internet). It's the perfect canvas for your imagination and design ideas for your next home, situated in the award winning Lower Merion School District. Take advantage of the quick drive or nearby train to Center City, the City Avenue corridor and all places Main Line. Wonderful seasonal Community Pool (fee) . Indoor Pool and Health Club (fee) available in the Lower Level. Tennis and Pickle Ball easy to play on the 2 courts. Modern Playground for the children. Community Garden plot established in 2023 for a small seasonal garden plot fee. 24/7 Secured Front Gate and Doormen. This unit has had its electrical panel upgraded to meet Township standards.

Key facts

• Landscaped grounds
• Community pool
• Private balcony

Tags

• LANDSCAPED GROUNDS
• PRIVATE BALCONY
• IN UNIT WASHER AND DRYER
• ABUNDANCE OF STORAGE
• COMMUNITY POOL
• INDOOR POOL AND HEALTH CLUB

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $167k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-114 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $150k (9.9% below list).
• Meets the 1% rule at list price ($3k rent vs $167k).
• Recommended offer: $147k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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 falling (-7.2%/yr); 69 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 1,936 units permitted in Montgomery County in 2024 (530 in 5+ unit buildings).
• This rent is only 18% of the median local income ($186k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 127 days — a 12% lower offer ($147k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 39% of rent.
• Climate carrying-cost: severe flood risk; 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 $146,960 (12.0% 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 12% concession, seller financing, or rate buy-down credit?
3. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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.
10. 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.
11. 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: 1.67% ✓
• Cap rate: 5.95%
• Cash-on-cash: -1.23%
• DSCR: 0.95
• GRM: 5.0

CMA / ARV

• ARV (median comp): $220,008
• List price: $167,000
• Delta: -24.09%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -28.1%
• Equity multiple: 0.11×
• Total profit: $-41,741
• Equity at exit: $24,900

10-year hold

• IRR: -78.3%
• Equity multiple: -0.59×
• Total profit: $-74,173
• Equity at exit: $14,439

Cash invested: $46,760 (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 19096

• Rents YoY: -7.2%
• Active inventory: 69
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $2,783 high
• Mortgage (P&I): −$876
• Tax est. 1.5%: −$209 /mo · $2,505/yr
• Insurance: −$70
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$1,092
• Vacancy / Maint / Mgmt: −$584
• Net cashflow: $-114

Break-even live

Break-even rent $2,927

Max offer price $150,462

Occupancy floor 99%

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: $41,750
• Closing costs: $5,010
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1001 City Ave Unit E-1107 Penn Wynne, PA	2.0	2.0	1222	$2,750	$2.25	18d	1	0.03mi
18 Lancaster Ave Wynnewood, PA	1.0–3.0	1.0–3.0	1095	$2,654	$2.42	1d	14	0.30mi
1 Trent Rd Unit 1C Penn Wynne, PA	1.0	1.0	800	$1,425	$1.78	43d	1	0.81mi
111 Chestnut Ave Narberth, PA	2.0	1.0	1340	$2,100	$1.57	43d	1	1.15mi
250 E Wynnewood Rd Wynnewood, PA	1.0–2.0	1.0	780	$2,150	$2.76	2d	1	1.23mi
625 E Lancaster Ave Wynnewood, PA	1.0–2.0	1.0–2.0	1060	$2,295	$2.17	5d	5	1.24mi
150 E Wynnewood Rd Wynnewood, PA	1.0–2.0	1.0	788	$2,490	$3.16	2d	15	1.24mi
36 N Narberth Ave Unit 2-B Narberth, PA	2.0	2.0	1035	$3,375	$3.26	43d	1	1.33mi
36 N Narberth Ave Unit 2-A Narberth, PA	2.0	2.0	1285	$4,195	$3.26	43d	1	1.33mi
36 N Narberth Ave Unit 1-B Narberth, PA	1.0	2.0	1108	$3,725	$3.36	43d	1	1.33mi
36 N Narberth Ave Unit 2-C Narberth, PA	2.0	2.0	1110	$3,645	$3.28	43d	1	1.33mi
36 N Narberth Ave Unit 1-C Narberth, PA	2.0	2.0	1320	$4,225	$3.20	43d	1	1.33mi
203 Haverford Ave Unit 308 Narberth, PA	2.0	2.0	1043	$3,390	$3.25	43d	1	1.34mi
203 Haverford Ave Unit 301 Narberth, PA	1.0	1.5	906	$2,945	$3.25	43d	1	1.34mi
203 Haverford Ave Unit 307 Narberth, PA	2.0	2.0	1066	$3,465	$3.25	43d	1	1.34mi
258 Haverford Ave Narberth, PA	1.0	1.0	750	$2,195	$2.93	43d	1	1.36mi
280 Haverford Ave Narberth, PA	2.0	1.0	985	$2,515	$2.55	1d	2	1.37mi
325 Penn Rd Wynnewood, PA	1.0–3.0	1.0–2.0	1184	$4,030	$3.40	1d	18	1.39mi
200 N Wynnewood Ave Wynnewood, PA	1.0–3.0	1.0–2.0	1467	$3,150	$2.15	1d	18	1.40mi
114 Forrest Ave Narberth, PA	2.0	1.0–2.5	1041	$4,445	$4.27	1d	7	1.40mi
40 Old Lancaster Rd #512 Merion Station, PA	2.0	2.0	1200	$2,650	$2.21	43d	1	1.46mi

HOA detail condo

• Monthly dues: $1,092 · $13,104/yr
• Likely covers: electricinternetcablelandscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $167,000 Active 127 DOM
2. 2026-06-17
   days on market $167,000 Active 126 DOM
3. 2026-06-16
   days on market $167,000 Active 125 DOM
4. 2026-06-15
   days on market $167,000 Active 124 DOM
5. 2026-06-13
   days on market $167,000 Active 122 DOM
6. 2026-06-13
   pricedays on market $167,000 Active 121 DOM
7. 2026-06-09
   days on market $199,000 Active 118 DOM
8. 2026-06-08
   days on market $199,000 Active 117 DOM
9. 2026-06-07
   days on market $199,000 Active 116 DOM
10. 2026-06-04
    days on market $199,000 Active 113 DOM
11. 2026-06-03
    days on market $199,000 Active 112 DOM
12. 2026-06-02
    days on market $199,000 Active 111 DOM
13. 2026-06-01
    days on market $199,000 Active 110 DOM
14. 2026-05-31
    days on market $199,000 Active 109 DOM
15. 2026-04-16
    price $199,000 1543-char remark

    Show marketing remark (1543 chars)

    Welcome to the coveted Green Hill community on 23 acres of lush landscaped grounds on the Main Line. Prepare to find great value with this spacious, 2 bedroom, 2 bathroom 1222 Sq. Ft. condominium home in the preferred West Building, poised for your personal touches and imagination. Embrace the warmth of natural light from the large windows in every room. This generously sized unit promises easy comfort and living with an eat in kitchen, opening up to a significantly sized living room. Enjoy your morning cup of tea and your daily sunrise on your private balcony off the dining/breakfast area, overlooking a park like setting year round. Enjoy the convenience of in unit washer and dryer. Discover an abundance of storage throughout including a storage area in the lower level. This best value on the Main Line also includes all utilities built into the condo fee (except cable and internet). It's the perfect canvas for your imagination and design ideas for your next home, situated in the award winning Lower Merion School District. Take advantage of the quick drive or nearby train to Center City, the City Avenue corridor and all places Main Line. Wonderful seasonal Community Pool (fee) . Indoor Pool and Health Club (fee) available in the Lower Level. Tennis and Pickle Ball easy to play on the 2 courts. Modern Playground for the children. Community Garden plot established in 2023 for a small seasonal garden plot fee. 24/7 Secured Front Gate and Doormen. This unit has had its electrical panel upgraded to meet Township standards.

16. 2026-02-11
    listed $214,000 Active 1543-char remark

    Show marketing remark (1543 chars)

    Welcome to the coveted Green Hill community on 23 acres of lush landscaped grounds on the Main Line. Prepare to find great value with this spacious, 2 bedroom, 2 bathroom 1222 Sq. Ft. condominium home in the preferred West Building, poised for your personal touches and imagination. Embrace the warmth of natural light from the large windows in every room. This generously sized unit promises easy comfort and living with an eat in kitchen, opening up to a significantly sized living room. Enjoy your morning cup of tea and your daily sunrise on your private balcony off the dining/breakfast area, overlooking a park like setting year round. Enjoy the convenience of in unit washer and dryer. Discover an abundance of storage throughout including a storage area in the lower level. This best value on the Main Line also includes all utilities built into the condo fee (except cable and internet). It's the perfect canvas for your imagination and design ideas for your next home, situated in the award winning Lower Merion School District. Take advantage of the quick drive or nearby train to Center City, the City Avenue corridor and all places Main Line. Wonderful seasonal Community Pool (fee) . Indoor Pool and Health Club (fee) available in the Lower Level. Tennis and Pickle Ball easy to play on the 2 courts. Modern Playground for the children. Community Garden plot established in 2023 for a small seasonal garden plot fee. 24/7 Secured Front Gate and Doormen. This unit has had its electrical panel upgraded to meet Township standards.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥103°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 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,391
• − Mortgage interest: −$9,355
• − Property taxes: −$2,505
• − Insurance: −$1,632
• − Repairs & maintenance: −$2,671
• − Management: −$2,671
• − HOA: −$13,104
• − Depreciation: −$4,858
• Taxable loss: −$3,405
• Est. tax savings @ 24.0%: +$817
• After-tax cash flow: $-554/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This spacious 2-bedroom, 2-bathroom condo in the Green Hill community is in good condition with minimal repairs needed. It offers a good ROI with updates that can significantly increase its value.

Value-add opportunities

• Both Paint interior walls — Fresh paint can improve the overall appearance and value of the home
• Both Replace ceiling fans — Ceiling fans can improve air circulation and reduce energy costs
• Both Replace kitchen appliances — Modern appliances can increase the home's appeal and value
• Both Replace bathroom fixtures — Modern fixtures can increase the home's appeal and value
• Both Landscaping improvements — Landscaping can improve curb appeal and increase the home's value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls — Fresh paint can improve the overall appearance and value of the home ↑
• Both Replace ceiling fans — Ceiling fans can improve air circulation and reduce energy costs ↑
• Both Replace kitchen appliances — Modern appliances can increase the home's appeal and value ↑
• Both Replace bathroom fixtures — Modern fixtures can increase the home's appeal and value ↑
• Both Landscaping improvements — Landscaping can improve curb appeal and increase the home's value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Lower Merion

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Penn Wynne, PA
• County: Montgomery County · 712,331 people
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 15,249
• Household income: $186,277
• Rent vs Own: 21.0% rent · 79.0% own
• Severe rent burden: 114.0

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 (73%)
• Race & ethnicity: White 73% Asian 11% Two or more races 9% Hispanic / Latino 5% Black 4%
• Common ancestry: Scotch-Irish 7% Romanian 6% Italian 3%
• Foreign-born: 15% · China, Canada, South Korea
• Languages at home: 80% English-only · Chinese 5% Other Indo-European 3% Spanish 3%

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: ▼ -334.68%
• Current HPI: 315.5669
• Rent YoY: ▼ -7.21%
• 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

-7.0% since first listed

2 events — show timeline

• 2026-04-16 Price Changed $199,000 BRIGHT MLS
• 2026-02-11 Listed $214,000 BRIGHT MLS