701 Lexington Way · Morgantown, PA 19543

$209,995

2 bd · 2.0 ba · 1,000 sqft · Condo public records · 22 Days on market

Built 1990 $390/mo HOA · 19% of rent

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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).

• Cash flow +9.7/30.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• 1% rule +5.0/10.0
• Appreciation +4.2/10.0
• Livability +3.4/5.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This 2 BR 2 Bath condo offers an open and flexible floor plan on ground level, and is conveniently located close to the PA turnpike and Rt 23. While it's in the heart of Morgantown and close to many restaurants and conveniences, it's tucked away in a quiet community with a scenic setting. This home has a spacious great room/kitchen with plenty of cabinet space and modern appliances. For $305/month, this is an opportunity you're not going to want to pass on!

Key facts

• Functional kitchen
• Ample closet space
• Convenient access

Tags

• FIRST FLOOR CONDO
• PRIVATE BATHROOM
• AMPLE CLOSET SPACE
• FUNCTIONAL KITCHEN
• CONVENIENT ACCESS
• PEACEFUL SETTING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $210k.

Deal economics

• At list price, monthly cash flow is $-136 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $186k (11.5% below list).
• Meets the 1% rule at list price ($2k rent vs $210k).
• Recommended offer: $186k (11.5% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 68/100 on livability (#879 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Twin Valley SD (rural): math 52% / reading 65% proficiency, ranked #72 of 539 in PA (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Twin Valley Ms (math 41% / reading 63%, grade C+, #103 of 512 statewide, top 21%, 920 students, 35% FRL); Twin Valley Hs (math 70% / reading 75%, grade B+, #37 of 437 statewide, top 8%, 1,023 students, 24% FRL).
• Market conditions: 17 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 258 units permitted in Berks County in 2024 (27 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.5%/yr); year-one equity from $1k of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Berks County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 23y 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 $149k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $185,886 (11.5% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-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. 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?
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: 1.00% ✓
• Cap rate: 5.51%
• Cash-on-cash: -2.79%
• DSCR: 0.88
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.5% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -12.0%
• Equity multiple: 0.51×
• Total profit: $-29,003
• Equity at exit: $45,645

10-year hold

• IRR: -4.6%
• Equity multiple: 0.61×
• Total profit: $-23,131
• Equity at exit: $43,754

Cash invested: $58,799 (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 19543

• Home prices YoY: -0.5%
• Active inventory: 17
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,100 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$217 /mo · $2,601/yr
• Insurance: −$87
• HOA: −$390
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $-136

Break-even live

Break-even rent $2,273

Max offer price $185,886

Occupancy floor —

Sensitivity live

Price	-10% $-18	-5% $-77	+0% $-136	+5% $-196	+10% $-255
Rent	-10% $-302	-5% $-219	+0% $-136	+5% $-54	+10% $29
Rate	-1.0pp $-31	-0.5pp $-83	base $-136	+0.5pp $-191	+1.0pp $-246

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: $52,499
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3735 Main St Morgantown, PA	1.0–2.0	1.0–2.0	1037	$2,100	$2.03	14d	1	0.11mi
2944 W Main St Unit 3 Morgantown, PA	2.0	1.0	1200	$2,100	$1.75	45d	1	0.91mi

HOA detail condo

• Monthly dues: $390 · $4,680/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-04-21
   status Pending
2. 2026-03-30
   listed $209,995 Active
3. 2020-12-29
   soldstatus $149,000
4. 2020-11-30
   soldstatus $149,000 Closed 461-char remark

   Show marketing remark (461 chars)

   This 2 BR 2 Bath condo offers an open and flexible floor plan on ground level, and is conveniently located close to the PA turnpike and Rt 23. While it's in the heart of Morgantown and close to many restaurants and conveniences, it's tucked away in a quiet community with a scenic setting. This home has a spacious great room/kitchen with plenty of cabinet space and modern appliances. For $305/month, this is an opportunity you're not going to want to pass on!

5. 2020-10-12
   status Pending 461-char remark

   Show marketing remark (461 chars)

   This 2 BR 2 Bath condo offers an open and flexible floor plan on ground level, and is conveniently located close to the PA turnpike and Rt 23. While it's in the heart of Morgantown and close to many restaurants and conveniences, it's tucked away in a quiet community with a scenic setting. This home has a spacious great room/kitchen with plenty of cabinet space and modern appliances. For $305/month, this is an opportunity you're not going to want to pass on!

6. 2020-09-15
   price $149,900 461-char remark

   Show marketing remark (461 chars)

   This 2 BR 2 Bath condo offers an open and flexible floor plan on ground level, and is conveniently located close to the PA turnpike and Rt 23. While it's in the heart of Morgantown and close to many restaurants and conveniences, it's tucked away in a quiet community with a scenic setting. This home has a spacious great room/kitchen with plenty of cabinet space and modern appliances. For $305/month, this is an opportunity you're not going to want to pass on!

7. 2020-08-27
   listed $155,000 Active 461-char remark

   Show marketing remark (461 chars)

   This 2 BR 2 Bath condo offers an open and flexible floor plan on ground level, and is conveniently located close to the PA turnpike and Rt 23. While it's in the heart of Morgantown and close to many restaurants and conveniences, it's tucked away in a quiet community with a scenic setting. This home has a spacious great room/kitchen with plenty of cabinet space and modern appliances. For $305/month, this is an opportunity you're not going to want to pass on!

8. 2004-09-13
   soldstatus $119,000
9. 2004-09-01
   soldstatus $119,900 478-char remark

   Show marketing remark (478 chars)

   Stop Paying Rent Now! Living Is Easy In This Great First Floor Condo In Top Condition. Open And Flexible Floorplan With Modern Appliances And A Great Location Make This Home A Fantastic Alternative To Apartment Living. Convenient To The Turnpike And To Rt. 23, But Tucked Away In A Great Community. Generous Sized Great Room/Kitchen With Stone Fireplace, Breakfast Bar And Plenty Of Cabinets And Counter Space Make This Too Good To Pass Up. Offering A Flexible Settlement Date!

10. 2004-06-30
    listed $119,900 478-char remark

    Show marketing remark (478 chars)

    Stop Paying Rent Now! Living Is Easy In This Great First Floor Condo In Top Condition. Open And Flexible Floorplan With Modern Appliances And A Great Location Make This Home A Fantastic Alternative To Apartment Living. Convenient To The Turnpike And To Rt. 23, But Tucked Away In A Great Community. Generous Sized Great Room/Kitchen With Stone Fireplace, Breakfast Bar And Plenty Of Cabinets And Counter Space Make This Too Good To Pass Up. Offering A Flexible Settlement Date!

11. 2004-02-18
    soldstatus $99,900
12. 2003-12-31
    soldstatus $99,900
13. 2003-11-12
    historical
14. 2003-11-05
    listed $99,900

ⓘ 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: $2,601 · $217/mo
• Projected year-2 tax: $2,959 · $247/mo
• Expected delta: +$359/yr (+$30/mo · 13.8%)

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

Taxation est. · year 1

• Rental income: $25,200
• − Mortgage interest: −$11,763
• − Property taxes: −$2,601
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,016
• − Management: −$2,016
• − HOA: −$4,680
• − Depreciation: −$6,109
• Taxable loss: −$5,035
• Est. tax savings @ 24.0%: +$1,208
• After-tax cash flow: $-429/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: Twin Valley SD
• NCES district ID: 4224000
• Math proficiency: 52% ▼ -6.00%
• Reading proficiency: 65% ▼ -5.00%
• Median HH income: $71,916
• Composite: 51.88/100
• National rank: #1655
• State rank: #72 of 539 in PA

Livability — Morgantown

• Score: 68/100
• State rank: #879
• US rank: #9344

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Morgantown, PA
• Population (ZIP): 6,172

Population outlook (Berks County) Hauer SSP2

• Today (2025): 425,767 people
• By 2030: 428,814 · +0.7%
• By 2040: 433,463 · +1.8%
• By 2050: 439,426 · +3.2%
• By 2075: 478,647 · +12.4%
• By 2100: 518,507 · +21.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 5% Two or more races 2% Asian 1%
• Common ancestry: Romanian 6% Slovak 3% Iranian 2%
• Foreign-born: 2% · Vietnam
• Languages at home: 93% English-only · Spanish 6% Vietnamese 1%

Political lean MEDSL · Berks

• 2024 margin: R (+12.2) · D 43.4% · R 55.6%
• 2008→2024 swing: -21.4pp toward R · 2008: 9.2pp · 2024: -12.2pp
• All cycles: 2024: R+12.2 2020: R+8.2 2016: R+10.2 2012: R+0.6 2008: D+9.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.50%
• Current HPI: 278.5089
• Rent YoY: —
• Metro: —
• 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

+110.2% since first listed

14 events — show timeline

• 2026-04-21 Pending — BRIGHT MLS
• 2026-03-30 Listed $209,995 BRIGHT MLS
• 2020-12-29 Sold (Public Records) $149,000 Public Records
• 2020-11-30 Sold (MLS) $149,000 BRIGHT MLS
• 2020-10-12 Pending — BRIGHT MLS
• 2020-09-15 Price Changed $149,900 BRIGHT MLS
• 2020-08-27 Listed $155,000 BRIGHT MLS
• 2004-09-13 Sold (Public Records) $119,000 Public Records
• 2004-09-01 Sold (MLS) $119,900 BRIGHT MLS
• 2004-06-30 Listed $119,900 BRIGHT MLS
• 2004-02-18 Sold (Public Records) $99,900 Public Records
• 2003-12-31 Sold (MLS) $99,900 BRIGHT MLS
• 2003-11-12 Listing Removed — BRIGHT MLS
• 2003-11-05 Listed $99,900 BRIGHT MLS

Property tax history

+1.9%/yr

Latest (2026): $2,601 · +2.5% YoY. Source: county tax records.