1001 City Ave Unit E-506 · Penn Wynne, PA 19096

$249,000

3 bd · 2.5 ba · 1,910 sqft · Condo · 52 Days on market

Built 1962 Good condition $130/sqft · 12% below area Est $282k · 12% under $1876/mo HOA · 53% of rent

---

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 +12.7/15.0
• 1% rule +9.2/10.0
• Schools +7.3/10.0
• Livability +4.5/5.0
• Condition / age +4.0/5.0
• Cash flow +3.1/30.0
• Rent growth +0.7/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this expansive 3-bedroom, 2.5-bath residence that has been transformed to a unique 2 bedroom with huge spacious rooms and exceptional fitted custom closets in the amenity-rich Green Hill community, set across 23 acres of beautifully landscaped Main Line grounds. Step into this stunning 5th-floor “wrap unit, ” offering approximately 1,910 square feet of thoughtfully designed living space, with natural light pouring in from three exposures. The well-appointed eat-in kitchen features updated appliances (the refrigerator and wall oven are new) and an enclosed utility room with a full-size washer and dryer, along with a recently upgraded electrical panel compliant with Lower Merion Township codes. Just off the entry, is a conveniently located powder room. The dining area flows seamlessly from the kitchen and opens to the first of two private balconies—perfect for enjoying your morning coffee in the sunlight. The adjoining living room is impressively spacious, creating an inviting and comfortable setting for both relaxing and entertaining. Down the hallway, the generously sized guest suite offers abundant closet space, built-in storage, and a private ensuite bath. Continue down the hallway to the true standout feature of this home: a combined second and third bedroom that creates a remarkably large primary suite enhanced with the second balcony, offering another outdoor retreat. This versatile space easily accommodates the bedroom plus a den or office or fitness area—tailor it to fit your lifestyle. With more closet and storage space than you can imagine and a nearby full bath, this unique layout delivers flexibility rarely found in condominium living. Additional highlights include a deeded indoor parking space ($170/month fee) in the East Garage, a storage space in the building’s lower level, and significant in unit closets. Residents of Green Hill enjoy exceptional amenities, including 24/7 door staff, a staffed security gate, tennis and pickle ball courts , a modern playground, EV charging stations (fee based), a community based garden (modest fee and first come, first served basis) and access to both an outdoor seasonal pool and an indoor heated pool and fitness center (modest fees apply). The monthly HOA fee conveniently covers all utilities except cable and internet. Located within the award-winning Lower Merion School District, this home also offers easy access to Center City by car or train, along with the best shopping, dining, and conveniences of the Main Line and City Avenue corridor. A rare opportunity offering space, light, flexibility, and value—this could be the place you’ll love to call home.

Key facts

• Updated appliances
• Private balconies
• Fitness center

Tags

• FITTED CUSTOM CLOSETS
• ENCLOSED UTILITY ROOM
• UPDATED APPLIANCES
• PRIVATE BALCONIES
• INDOOR HEATED POOL
• FITNESS CENTER

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $249k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-863 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $124k (50.1% below list).
• Meets the 1% rule at list price ($4k rent vs $249k).
• Recommended offer: $124k (50.1% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 89/100 on livability (#30 in PA, #167 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, commute A+; Watch: cost of living 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 falling (-7.2%/yr); 69 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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 $7k 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 52 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 53% 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 $124,132 (50.1% 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 52 days. Have you received any prior offers? Is the seller open to a 50% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are A-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?
9. 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?
10. 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.
11. 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.
12. 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: 1.42% ✓
• Cap rate: 2.45%
• Cash-on-cash: -13.71%
• DSCR: 0.39
• GRM: 5.9

CMA / ARV

• ARV (median comp): $281,789
• List price: $249,000
• Delta: -11.64%
• 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: -54.5%
• Equity multiple: -0.50×
• Total profit: $-104,450
• Equity at exit: $37,127

10-year hold

• IRR: —
• Equity multiple: -1.82×
• Total profit: $-196,804
• Equity at exit: $21,529

Cash invested: $69,720 (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: 5.9×

Monthly cashflow live

• Estimated rent: $3,545 high
• Mortgage (P&I): −$1,306
• Tax est. 1.5%: −$311 /mo · $3,735/yr
• Insurance: −$104
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$1,876
• Vacancy / Maint / Mgmt: −$744
• Net cashflow: $-863

Break-even live

Break-even rent $4,637

Max offer price $124,132

Occupancy floor —

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1001 City Ave Unit E-522 Penn Wynne, PA	4.0	2.5	1910	$3,750	$1.96	5d	1	0.03mi
18 Lancaster Ave Wynnewood, PA	1.0–3.0	1.0–3.0	1095	$3,634	$3.32	1d	14	0.30mi
415 City Ave Unit I2 Merion Station, PA	3.0	2.0	1766	$2,950	$1.67	43d	1	0.96mi
111 Chestnut Ave Narberth, PA	2.0	1.0	1340	$2,100	$1.57	43d	1	1.15mi
625 E Lancaster Ave Wynnewood, PA	1.0–2.0	1.0–2.0	1060	$2,295	$2.17	5d	5	1.24mi
36 N Narberth Ave Unit 1-C Narberth, PA	2.0	2.0	1320	$4,225	$3.20	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
325 Penn Rd Wynnewood, PA	1.0–3.0	1.0–2.0	1184	$5,798	$4.90	1d	18	1.39mi
200 N Wynnewood Ave Wynnewood, PA	1.0–3.0	1.0–2.0	1467	$4,300	$2.93	1d	18	1.40mi
114 Forrest Ave Narberth, PA	2.0	1.0–2.5	1041	$4,445	$4.27	1d	7	1.40mi
26 Old Lancaster Rd Merion Station, PA	4.0	4.0	2346	$4,215	$1.80	12d	1	1.49mi

HOA detail condo

• Monthly dues: $1,876 · $22,512/yr
• Likely covers: electricinternetcablelandscapingpoolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-06-08
   statusdays on market $249,000 Pending 52 DOM
2. 2026-06-07
   days on market $249,000 Active 51 DOM
3. 2026-06-04
   days on market $249,000 Active 48 DOM
4. 2026-06-03
   days on market $249,000 Active 47 DOM
5. 2026-06-02
   days on market $249,000 Active 46 DOM
6. 2026-06-01
   days on market $249,000 Active 45 DOM
7. 2026-05-31
   days on market $249,000 Active 44 DOM
8. 2026-04-17
   listed $249,000 Active 2702-char remark

   Show marketing remark (2702 chars)

   Welcome to this expansive 3-bedroom, 2.5-bath residence that has been transformed to a unique 2 bedroom with huge spacious rooms and exceptional fitted custom closets in the amenity-rich Green Hill community, set across 23 acres of beautifully landscaped Main Line grounds. Step into this stunning 5th-floor “wrap unit, ” offering approximately 1,910 square feet of thoughtfully designed living space, with natural light pouring in from three exposures. The well-appointed eat-in kitchen features updated appliances (the refrigerator and wall oven are new) and an enclosed utility room with a full-size washer and dryer, along with a recently upgraded electrical panel compliant with Lower Merion Township codes. Just off the entry, is a conveniently located powder room. The dining area flows seamlessly from the kitchen and opens to the first of two private balconies—perfect for enjoying your morning coffee in the sunlight. The adjoining living room is impressively spacious, creating an inviting and comfortable setting for both relaxing and entertaining. Down the hallway, the generously sized guest suite offers abundant closet space, built-in storage, and a private ensuite bath. Continue down the hallway to the true standout feature of this home: a combined second and third bedroom that creates a remarkably large primary suite enhanced with the second balcony, offering another outdoor retreat. This versatile space easily accommodates the bedroom plus a den or office or fitness area—tailor it to fit your lifestyle. With more closet and storage space than you can imagine and a nearby full bath, this unique layout delivers flexibility rarely found in condominium living. Additional highlights include a deeded indoor parking space ($170/month fee) in the East Garage, a storage space in the building’s lower level, and significant in unit closets. Residents of Green Hill enjoy exceptional amenities, including 24/7 door staff, a staffed security gate, tennis and pickle ball courts , a modern playground, EV charging stations (fee based), a community based garden (modest fee and first come, first served basis) and access to both an outdoor seasonal pool and an indoor heated pool and fitness center (modest fees apply). The monthly HOA fee conveniently covers all utilities except cable and internet. Located within the award-winning Lower Merion School District, this home also offers easy access to Center City by car or train, along with the best shopping, dining, and conveniences of the Main Line and City Avenue corridor. A rare opportunity offering space, light, flexibility, and value—this could be the place you’ll love to call home.

ⓘ 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: $42,536
• − Mortgage interest: −$13,948
• − Property taxes: −$3,735
• − Insurance: −$2,042
• − Repairs & maintenance: −$3,403
• − Management: −$3,403
• − HOA: −$22,512
• − Depreciation: −$7,244
• Taxable loss: −$13,751
• Est. tax savings @ 24.0%: +$3,300
• After-tax cash flow: $-7,055/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 · 3 photos

Good 80/100 Cosmetic rehab

This 3-bedroom, 2.5-bath condo in the Green Hill community is in good condition with recent updates and improvements. It offers a spacious living area and is well-maintained, making it an attractive option for both buyers and renters.

Value-add opportunities

• Both Painting and minor touch-ups — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract potential buyers/tenants.
• Both New flooring in common areas — Fresh flooring can improve the overall look and feel of the property, making it more appealing to buyers/tenants.
• Both Upgrading kitchen appliances — Upgrading appliances can make the kitchen more modern and appealing to potential buyers/tenants.
• Both Upgrading bathroom fixtures — Modernizing bathrooms can enhance the overall appeal and functionality of the property, making it more attractive to buyers/tenants.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting and minor touch-ups — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract potential buyers/tenants. ↑
• Both New flooring in common areas — Fresh flooring can improve the overall look and feel of the property, making it more appealing to buyers/tenants. ↑
• Both Upgrading kitchen appliances — Upgrading appliances can make the kitchen more modern and appealing to potential buyers/tenants. ↑
• Both Upgrading bathroom fixtures — Modernizing bathrooms can enhance the overall appeal and functionality of the property, making it more attractive to buyers/tenants. ↑

ⓘ 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 — Penn Wynne

• Score: 89/100
• State rank: #30
• US rank: #167

Category grades

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

Schools grade is shown separately in the Schools card above.

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

1 event — show timeline

• 2026-04-17 Listed $249,000 BRIGHT MLS