1001 City Ave Unit E-404 · Lower Merion, PA 19096

$155,000

2 bd · 2.0 ba · 1,222 sqft · Condo · 112 Days on market

Built 1962 Fair condition $127/sqft · 33% below area Est $232k · 33% under $1092/mo HOA · 39% of rent ↓ 11% 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 +14.5/30.0
• 1% rule +10.0/10.0
• Schools +7.3/10.0
• DSCR +4.4/10.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0
• Rent growth +0.7/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A fantastic opportunity to own a spacious residence in the Green Hill condominium community in Wynnewood, Montgomery County, Pennsylvania. Originally developed in 1962, Green Hill is a well-established, secure, gated high-rise community known for its convenience and amenities. This unit offers approximately 1,222 square feet of finished interior living space, featuring an oversized living room, kitchen, two generously sized bedrooms, and two full bathrooms. The home includes central heat and air conditioning for year-round comfort and laundry area. Residents enjoy excellent amenities, including a beautifully maintained lobby with doorman service, indoor and outdoor swimming pools, and a fully equipped fitness center. The community provides a secure, gated environment for added peace of mind. Ideally located near the Main Line s premier shopping and dining destinations, with easy access to Center City Philadelphia, this property combines comfort, space, and location.

Key facts

• Doorman service
• Indoor swimming pool
• Laundry area

Tags

• BEAUTIFULLY MAINTAINED LOBBY
• DOORMAN SERVICE
• INDOOR SWIMMING POOL
• OUTDOOR SWIMMING POOL
• FULLY EQUIPPED FITNESS CENTER
• LAUNDRY AREA

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $155k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-31 ($-376/yr) — negative.
• To cash-flow at today's rent, offer at most $150k (2.9% below list).
• Meets the 1% rule at list price ($3k rent vs $155k).
• Recommended offer: $141k (9.0% 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 112 days — a 9% lower offer ($141k) 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 $141,050 (9.0% 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 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
7. 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?
8. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
9. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.80% ✓
• Cap rate: 6.56%
• Cash-on-cash: 0.97%
• DSCR: 1.04
• GRM: 4.6

CMA / ARV

• ARV (median comp): $231,825
• List price: $155,000
• Delta: -33.14%
• 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: -24.6%
• Equity multiple: 0.20×
• Total profit: $-34,515
• Equity at exit: $23,111

10-year hold

• IRR: -66.5%
• Equity multiple: -0.41×
• Total profit: $-61,079
• Equity at exit: $13,402

Cash invested: $43,400 (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: 4.6×

Monthly cashflow live

• Estimated rent: $2,783 high
• Mortgage (P&I): −$813
• Tax est. 1.5%: −$194 /mo · $2,325/yr
• Insurance: −$65
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$1,092
• Vacancy / Maint / Mgmt: −$584
• Net cashflow: $-31

Break-even live

Break-even rent $2,822

Max offer price $150,462

Occupancy floor 96%

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: $38,750
• Closing costs: $4,650
• 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	44d	1	0.81mi
111 Chestnut Ave Narberth, PA	2.0	1.0	1340	$2,100	$1.57	44d	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	44d	1	1.33mi
36 N Narberth Ave Unit 2-A Narberth, PA	2.0	2.0	1285	$4,195	$3.26	44d	1	1.33mi
36 N Narberth Ave Unit 1-B Narberth, PA	1.0	2.0	1108	$3,725	$3.36	44d	1	1.33mi
36 N Narberth Ave Unit 2-C Narberth, PA	2.0	2.0	1110	$3,645	$3.28	44d	1	1.33mi
36 N Narberth Ave Unit 1-C Narberth, PA	2.0	2.0	1320	$4,225	$3.20	44d	1	1.33mi
203 Haverford Ave Unit 308 Narberth, PA	2.0	2.0	1043	$3,390	$3.25	44d	1	1.34mi
203 Haverford Ave Unit 301 Narberth, PA	1.0	1.5	906	$2,945	$3.25	44d	1	1.34mi
203 Haverford Ave Unit 307 Narberth, PA	2.0	2.0	1066	$3,465	$3.25	44d	1	1.34mi
258 Haverford Ave Narberth, PA	1.0	1.0	750	$2,195	$2.93	44d	1	1.36mi
280 Haverford Ave Narberth, PA	2.0	1.0	985	$2,515	$2.55	2d	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	44d	1	1.46mi

HOA detail condo

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

Listing history 17 events

1. 2026-06-18
   days on market $155,000 Active 112 DOM
2. 2026-06-17
   days on market $155,000 Active 111 DOM
3. 2026-06-16
   days on market $155,000 Active 110 DOM
4. 2026-06-15
   days on market $155,000 Active 109 DOM
5. 2026-06-13
   days on market $155,000 Active 107 DOM
6. 2026-06-13
   days on market $155,000 Active 106 DOM
7. 2026-06-09
   pricedays on market $155,000 Active 103 DOM
8. 2026-06-08
   days on market $165,000 Active 102 DOM
9. 2026-06-07
   days on market $165,000 Active 101 DOM
10. 2026-06-04
    days on market $165,000 Active 98 DOM
11. 2026-06-03
    days on market $165,000 Active 97 DOM
12. 2026-06-02
    days on market $165,000 Active 96 DOM
13. 2026-06-01
    days on market $165,000 Active 95 DOM
14. 2026-05-31
    days on market $165,000 Active 94 DOM
15. 2026-05-06
    price $165,000 980-char remark

    Show marketing remark (980 chars)

    A fantastic opportunity to own a spacious residence in the Green Hill condominium community in Wynnewood, Montgomery County, Pennsylvania. Originally developed in 1962, Green Hill is a well-established, secure, gated high-rise community known for its convenience and amenities. This unit offers approximately 1,222 square feet of finished interior living space, featuring an oversized living room, kitchen, two generously sized bedrooms, and two full bathrooms. The home includes central heat and air conditioning for year-round comfort and laundry area. Residents enjoy excellent amenities, including a beautifully maintained lobby with doorman service, indoor and outdoor swimming pools, and a fully equipped fitness center. The community provides a secure, gated environment for added peace of mind. Ideally located near the Main Line s premier shopping and dining destinations, with easy access to Center City Philadelphia, this property combines comfort, space, and location.

16. 2026-04-07
    price $175,000 980-char remark

    Show marketing remark (980 chars)

    A fantastic opportunity to own a spacious residence in the Green Hill condominium community in Wynnewood, Montgomery County, Pennsylvania. Originally developed in 1962, Green Hill is a well-established, secure, gated high-rise community known for its convenience and amenities. This unit offers approximately 1,222 square feet of finished interior living space, featuring an oversized living room, kitchen, two generously sized bedrooms, and two full bathrooms. The home includes central heat and air conditioning for year-round comfort and laundry area. Residents enjoy excellent amenities, including a beautifully maintained lobby with doorman service, indoor and outdoor swimming pools, and a fully equipped fitness center. The community provides a secure, gated environment for added peace of mind. Ideally located near the Main Line s premier shopping and dining destinations, with easy access to Center City Philadelphia, this property combines comfort, space, and location.

17. 2026-02-27
    listed $185,000 Active 980-char remark

    Show marketing remark (980 chars)

    A fantastic opportunity to own a spacious residence in the Green Hill condominium community in Wynnewood, Montgomery County, Pennsylvania. Originally developed in 1962, Green Hill is a well-established, secure, gated high-rise community known for its convenience and amenities. This unit offers approximately 1,222 square feet of finished interior living space, featuring an oversized living room, kitchen, two generously sized bedrooms, and two full bathrooms. The home includes central heat and air conditioning for year-round comfort and laundry area. Residents enjoy excellent amenities, including a beautifully maintained lobby with doorman service, indoor and outdoor swimming pools, and a fully equipped fitness center. The community provides a secure, gated environment for added peace of mind. Ideally located near the Main Line s premier shopping and dining destinations, with easy access to Center City Philadelphia, this property combines comfort, space, and location.

ⓘ 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: −$8,682
• − Property taxes: −$2,325
• − Insurance: −$1,572
• − Repairs & maintenance: −$2,671
• − Management: −$2,671
• − HOA: −$13,104
• − Depreciation: −$4,509
• Taxable loss: −$2,144
• Est. tax savings @ 24.0%: +$515
• After-tax cash flow: $138/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

Fair 45/100 Moderate rehab

This property requires significant repairs and updates to improve its condition and value. The concrete balconies, flooring, and paint are in poor condition, and the bathrooms and kitchen need new fixtures and appliances. A new flooring, paint job, and updated fixtures and appliances would significantly increase its resale and rental value.

Repairs flagged

• Major Balcony tiles — Broken tiles and exposed concrete
• Major Flooring — Worn and dirty carpet
• Major Paint — Worn and discolored paint
• Major Bathroom fixtures — Outdated and worn fixtures
• Major Kitchen appliances — Outdated and worn appliances

Value-add opportunities

• Both New flooring — New flooring will improve both resale and rental value
• Both Paint job — Paint job will improve both resale and rental value
• Both New bathroom fixtures — New fixtures will improve both resale and rental value
• Both New kitchen appliances — New appliances will improve both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Balcony tiles · Broken tiles and exposed concrete	Major	$15,000–50,000
Flooring · Worn and dirty carpet	Major	$15,000–50,000
Paint · Worn and discolored paint	Major	$15,000–50,000
Bathroom fixtures · Outdated and worn fixtures	Major	$15,000–50,000
Kitchen appliances · Outdated and worn appliances	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both New flooring — New flooring will improve both resale and rental value ↑
• Both Paint job — Paint job will improve both resale and rental value ↑
• Both New bathroom fixtures — New fixtures will improve both resale and rental value ↑
• Both New kitchen appliances — New appliances will improve both resale and rental 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

-10.8% since first listed

3 events — show timeline

• 2026-05-06 Price Changed $165,000 BRIGHT MLS
• 2026-04-07 Price Changed $175,000 BRIGHT MLS
• 2026-02-27 Listed $185,000 BRIGHT MLS