5 E Penn Ave · Wernersville, PA 19565

$2,750,000

None bd · None ba · 8,000 sqft · MultiFamily · 588 Days on market

Built 1890 0.41 ac lot ↓ 14% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 42 units. estimate disagrees with records

Listing remarks

* * * Projected Annual NOI of $430,000 * * * Discover a rare investment opportunity with this 42-unit historic building, in a prime, high-traffic location. Boasting 38 residential rooming units, 17 of which having their own private bathrooms and 4 thriving commercial spaces. The commercial units are anchored by an open and thriving bar, a cozy cafe, a fully equipped kitchen, and a spacious restaurant/ballroom area ideal for events. In addition to a thrift shop adds to the building's diverse tenant mix. Included in the sale is an additional parcel just across the street, featuring a barn with its own parking lot. With zoning approval, this versatile space could be transformed into addit

Key facts

• 0.41 acre lot
• 36 parking spots
• Built 1890

What this means for you Summary

Snapshot

• This is a 42 × 2-bed/?-bath units multifamily listed at $2.75M.

Deal economics

• At list price, monthly cash flow is $22k ($263k/yr) — positive. Per door: $522/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($52k rent vs $2.75M).
• Recommended offer: $2.42M (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#583 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Conrad Weiser Area SD (suburban): math 27% / reading 43% proficiency, ranked #391 of 539 in PA (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 39 active listings in the ZIP; 258 units permitted in Berks County in 2024 (27 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $19k of loan paydown is wiped out by about $82k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $770k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 588 days — a 12% lower offer ($2.42M) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $2,420,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 588 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-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?
8. 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.
9. 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.
10. 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: 1.88% ✓
• Cap rate: 15.87%
• Cash-on-cash: 34.19%
• DSCR: 2.52
• GRM: 4.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 29.6%
• Equity multiple: 2.24×
• Total profit: $952,502
• Equity at exit: $410,034

10-year hold

• IRR: 36.9%
• Equity multiple: 4.42×
• Total profit: $2,631,894
• Equity at exit: $237,770

Cash invested: $770,000 (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 19565

• Home prices YoY: -21.4%
• Active inventory: 39
• Price-to-rent: 185.7×

Monthly cashflow live

• Estimated rent: $51,828 medium
• Mortgage (P&I): −$14,421
• Tax est. 1.5%: −$3,438 /mo · $41,250/yr
• Insurance: −$1,146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$10,884
• Net cashflow: $21,939

Break-even live

Break-even rent $24,056

Max offer price $2,750,000

Occupancy floor 53%

42-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 42× units	2	—	$51,828
Total (42 units)			$51,828

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: $687,500
• Closing costs: $82,500
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-03-26
   status Pending
2. 2026-02-09
   price $2,750,000
3. 2026-02-02
   status Active
4. 2026-01-30
   historical
5. 2024-08-12
   listed $2,850,000 Active
6. 2024-07-22
   historical
7. 2023-10-09
   price $2,900,000
8. 2023-08-29
   status Active
9. 2023-08-28
   historical
10. 2023-07-08
    price $2,950,000
11. 2023-05-25
    status Active
12. 2023-05-23
    historical
13. 2022-09-28
    price $3,100,000
14. 2022-06-23
    listed $3,200,000 Active

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

Taxation est. · year 1

• Rental income: $621,936
• − Mortgage interest: −$154,043
• − Property taxes: −$41,250
• − Insurance: −$13,750
• − Repairs & maintenance: −$49,755
• − Management: −$49,755
• − Depreciation: −$80,000
• Taxable income: $233,383
• Est. tax owed @ 24.0%: −$56,012
• After-tax cash flow: $207,262/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: Conrad Weiser Area SD
• NCES district ID: 4206780
• Math proficiency: 27% ▼ -14.00%
• Reading proficiency: 43% ▼ -14.00%
• Median HH income: $63,004
• Composite: 31.53/100
• National rank: #5962
• State rank: #391 of 539 in PA

Livability — Wernersville

• Score: 73/100
• State rank: #583
• US rank: #5601

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: Wernersville, PA
• Population (ZIP): 8,744

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 (85%)
• Race & ethnicity: White 85% Two or more races 6% Hispanic / Latino 6% Black 5%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Romanian 6% German 3% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -74.10%
• Current HPI: 271.6774
• 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

-14.1% since first listed

14 events — show timeline

• 2026-03-26 Pending — BRIGHT MLS
• 2026-02-09 Price Changed $2,750,000 BRIGHT MLS
• 2026-02-02 Relisted — BRIGHT MLS
• 2026-01-30 Listing Removed — BRIGHT MLS
• 2024-08-12 Listed $2,850,000 BRIGHT MLS
• 2024-07-22 Listing Removed — BRIGHT MLS
• 2023-10-09 Price Changed $2,900,000 BRIGHT MLS
• 2023-08-29 Relisted — BRIGHT MLS
• 2023-08-28 Listing Removed — BRIGHT MLS
• 2023-07-08 Price Changed $2,950,000 BRIGHT MLS
• 2023-05-25 Relisted — BRIGHT MLS
• 2023-05-23 Listing Removed — BRIGHT MLS
• 2022-09-28 Price Changed $3,100,000 BRIGHT MLS
• 2022-06-23 Listed $3,200,000 BRIGHT MLS