1001 City Ave Unit E-223 · Lower Merion, PA 19096

$185,000

2 bd · 2.0 ba · 1,222 sqft · Condo · 220 Days on market

Built 1962 Average condition $151/sqft · 11% below area Est $207k · 11% under $1092/mo HOA · 40% of rent ↓ 10% since listing

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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).

• ARV discount +12.3/15.0
• 1% rule +9.8/10.0
• Cash flow +7.7/30.0
• Schools +7.3/10.0
• Condition / age +2.8/5.0
• Livability +2.5/5.0
• DSCR +1.8/10.0
• Rent growth +0.7/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 1001 City Avenue, unit E-223, a spacious 2nd-floor condo accessible by elevator, offering 1,222 sq. ft. of comfortable, easy living. This freshly painted home features 2 generously sized bedrooms, each with walk-in closets, and 2 full bathrooms for added convenience. The expansive open-concept living and dining room is brightened by generous natural light, offering a versatile and inviting setting for relaxation or entertaining guests. Step out onto your covered patio overlooking the woods, a peaceful, scenic retreat to enjoy year-round. A dedicated storage unit is conveniently located on the lower level of the building, offering extra space for seasonal items and belongings. Residents enjoy the outdoor swim club, fitness center with indoor pool, tennis courts, playground, game room, movie nights, free shuttle bus to local shopping & train station and much more! The monthly fee includes all utilities except cable, internet and phone. Sellers are motivated, schedule your showing today!

Key facts

• Walk-in closets
• Covered patio
• $1,092 HOA

Tags

• COVERED PATIO
• DEDICATED STORAGE UNIT
• WALK-IN CLOSETS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $185k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $-278 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $145k (21.8% below list).
• Meets the 1% rule at list price ($3k rent vs $185k).
• Recommended offer: $145k (21.8% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads: area grade D — 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; 23 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 $6k 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 220 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 40% 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 $144,731 (21.8% 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 220 days. Have you received any prior offers? Is the seller open to a 22% 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. 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: 1.48% ✓
• Cap rate: 4.92%
• Cash-on-cash: -4.91%
• DSCR: 0.78
• GRM: 5.6

CMA / ARV

• ARV (median comp): $206,921
• List price: $185,000
• Delta: -10.59%
• 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: -34.4%
• Equity multiple: -0.06×
• Total profit: $-54,957
• Equity at exit: $27,584

10-year hold

• IRR: -98.8%
• Equity multiple: -0.90×
• Total profit: $-98,566
• Equity at exit: $15,995

Cash invested: $51,800 (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: 5.6×

Monthly cashflow live

• Estimated rent: $2,732 high
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,775/yr
• Insurance: −$77
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$1,092
• Vacancy / Maint / Mgmt: −$574
• Net cashflow: $-278

Break-even live

Break-even rent $3,085

Max offer price $144,731

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 23 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	0.04mi
18 Lancaster Ave Wynnewood, PA	1.0–3.0	1.0–3.0	1095	$2,654	$2.42	1d	14	0.26mi
1 Trent Rd Unit 1C Penn Wynne, PA	1.0	1.0	800	$1,425	$1.78	43d	1	0.85mi
111 Chestnut Ave Narberth, PA	2.0	1.0	1340	$2,100	$1.57	43d	1	1.16mi
250 E Wynnewood Rd Wynnewood, PA	1.0–2.0	1.0	780	$2,150	$2.76	2d	1	1.25mi
150 E Wynnewood Rd Wynnewood, PA	1.0–2.0	1.0	788	$2,490	$3.16	2d	15	1.27mi
625 E Lancaster Ave Wynnewood, PA	1.0–2.0	1.0–2.0	1060	$2,295	$2.17	5d	5	1.27mi
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
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-B Narberth, PA	2.0	2.0	1035	$3,375	$3.26	43d	1	1.33mi
203 Haverford Ave Unit 301 Narberth, PA	1.0	1.5	906	$2,945	$3.25	43d	1	1.34mi
203 Haverford Ave Unit 308 Narberth, PA	2.0	2.0	1043	$3,390	$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	1.36mi
114 Forrest Ave Narberth, PA	2.0	1.0–2.5	1041	$4,445	$4.27	1d	7	1.41mi
325 Penn Rd Wynnewood, PA	1.0–3.0	1.0–2.0	1184	$4,030	$3.40	1d	18	1.41mi
40 Old Lancaster Rd #512 Merion Station, PA	2.0	2.0	1200	$2,650	$2.21	43d	1	1.42mi
200 N Wynnewood Ave Wynnewood, PA	1.0–3.0	1.0–2.0	1467	$3,150	$2.15	1d	18	1.42mi
25 Old Lancaster Rd Bala Cynwyd, PA	2.0	1.0	847	$1,998	$2.36	3d	6	1.48mi
25 Old Lancaster Rd Bala Cynwyd, PA	2.0	1.0	1000	$1,998	$2.00	43d	6	1.48mi

HOA detail condo

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

Listing history 19 events

1. 2026-06-18
   days on market $185,000 Active 220 DOM
2. 2026-06-17
   days on market $185,000 Active 219 DOM
3. 2026-06-16
   days on market $185,000 Active 218 DOM
4. 2026-06-15
   days on market $185,000 Active 217 DOM
5. 2026-06-13
   days on market $185,000 Active 215 DOM
6. 2026-06-13
   days on market $185,000 Active 214 DOM
7. 2026-06-09
   days on market $185,000 Active 211 DOM
8. 2026-06-08
   days on market $185,000 Active 210 DOM
9. 2026-06-07
   days on market $185,000 Active 209 DOM
10. 2026-06-04
    days on market $185,000 Active 206 DOM
11. 2026-06-03
    days on market $185,000 Active 205 DOM
12. 2026-06-02
    days on market $185,000 Active 204 DOM
13. 2026-06-01
    days on market $185,000 Active 203 DOM
14. 2026-05-31
    days on market $185,000 Active 202 DOM
15. 2026-04-13
    price $189,000 1016-char remark

    Show marketing remark (1016 chars)

    Welcome to 1001 City Avenue, unit E-223, a spacious 2nd-floor condo accessible by elevator, offering 1,222 sq. ft. of comfortable, easy living. This freshly painted home features 2 generously sized bedrooms, each with walk-in closets, and 2 full bathrooms for added convenience. The expansive open-concept living and dining room is brightened by generous natural light, offering a versatile and inviting setting for relaxation or entertaining guests. Step out onto your covered patio overlooking the woods, a peaceful, scenic retreat to enjoy year-round. A dedicated storage unit is conveniently located on the lower level of the building, offering extra space for seasonal items and belongings. Residents enjoy the outdoor swim club, fitness center with indoor pool, tennis courts, playground, game room, movie nights, free shuttle bus to local shopping & train station and much more! The monthly fee includes all utilities except cable, internet and phone. Sellers are motivated, schedule your showing today!

16. 2026-03-07
    status Active 1016-char remark

    Show marketing remark (1016 chars)

    Welcome to 1001 City Avenue, unit E-223, a spacious 2nd-floor condo accessible by elevator, offering 1,222 sq. ft. of comfortable, easy living. This freshly painted home features 2 generously sized bedrooms, each with walk-in closets, and 2 full bathrooms for added convenience. The expansive open-concept living and dining room is brightened by generous natural light, offering a versatile and inviting setting for relaxation or entertaining guests. Step out onto your covered patio overlooking the woods, a peaceful, scenic retreat to enjoy year-round. A dedicated storage unit is conveniently located on the lower level of the building, offering extra space for seasonal items and belongings. Residents enjoy the outdoor swim club, fitness center with indoor pool, tennis courts, playground, game room, movie nights, free shuttle bus to local shopping & train station and much more! The monthly fee includes all utilities except cable, internet and phone. Sellers are motivated, schedule your showing today!

17. 2026-02-28
    historical 1016-char remark

    Show marketing remark (1016 chars)

    Welcome to 1001 City Avenue, unit E-223, a spacious 2nd-floor condo accessible by elevator, offering 1,222 sq. ft. of comfortable, easy living. This freshly painted home features 2 generously sized bedrooms, each with walk-in closets, and 2 full bathrooms for added convenience. The expansive open-concept living and dining room is brightened by generous natural light, offering a versatile and inviting setting for relaxation or entertaining guests. Step out onto your covered patio overlooking the woods, a peaceful, scenic retreat to enjoy year-round. A dedicated storage unit is conveniently located on the lower level of the building, offering extra space for seasonal items and belongings. Residents enjoy the outdoor swim club, fitness center with indoor pool, tennis courts, playground, game room, movie nights, free shuttle bus to local shopping & train station and much more! The monthly fee includes all utilities except cable, internet and phone. Sellers are motivated, schedule your showing today!

18. 2025-12-06
    price $199,000 1016-char remark

    Show marketing remark (1016 chars)

    Welcome to 1001 City Avenue, unit E-223, a spacious 2nd-floor condo accessible by elevator, offering 1,222 sq. ft. of comfortable, easy living. This freshly painted home features 2 generously sized bedrooms, each with walk-in closets, and 2 full bathrooms for added convenience. The expansive open-concept living and dining room is brightened by generous natural light, offering a versatile and inviting setting for relaxation or entertaining guests. Step out onto your covered patio overlooking the woods, a peaceful, scenic retreat to enjoy year-round. A dedicated storage unit is conveniently located on the lower level of the building, offering extra space for seasonal items and belongings. Residents enjoy the outdoor swim club, fitness center with indoor pool, tennis courts, playground, game room, movie nights, free shuttle bus to local shopping & train station and much more! The monthly fee includes all utilities except cable, internet and phone. Sellers are motivated, schedule your showing today!

19. 2025-11-03
    listed $210,000 Active 1016-char remark

    Show marketing remark (1016 chars)

    Welcome to 1001 City Avenue, unit E-223, a spacious 2nd-floor condo accessible by elevator, offering 1,222 sq. ft. of comfortable, easy living. This freshly painted home features 2 generously sized bedrooms, each with walk-in closets, and 2 full bathrooms for added convenience. The expansive open-concept living and dining room is brightened by generous natural light, offering a versatile and inviting setting for relaxation or entertaining guests. Step out onto your covered patio overlooking the woods, a peaceful, scenic retreat to enjoy year-round. A dedicated storage unit is conveniently located on the lower level of the building, offering extra space for seasonal items and belongings. Residents enjoy the outdoor swim club, fitness center with indoor pool, tennis courts, playground, game room, movie nights, free shuttle bus to local shopping & train station and much more! The monthly fee includes all utilities except cable, internet and phone. Sellers are motivated, schedule your showing today!

ⓘ 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: $32,790
• − Mortgage interest: −$10,363
• − Property taxes: −$2,775
• − Insurance: −$1,722
• − Repairs & maintenance: −$2,623
• − Management: −$2,623
• − HOA: −$13,104
• − Depreciation: −$5,382
• Taxable loss: −$5,803
• Est. tax savings @ 24.0%: +$1,393
• After-tax cash flow: $-1,947/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

Average 55/100 Moderate rehab

This 2-bedroom, 2-bathroom condo requires moderate renovations to update the kitchen and bathrooms, and paint the interior walls. The home is currently in average condition and has potential for significant value increase.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of updating
• Moderate bathroom fixtures — dated and in need of updating
• Minor flooring — carpeted floors in living areas
• Minor interior walls — light-colored walls, some discoloration

Value-add opportunities

• Both update kitchen cabinets and countertops — modernizing the kitchen would improve both resale and rental value
• Both update bathroom fixtures and flooring — modernizing the bathrooms would improve both resale and rental value
• Both paint interior walls — painting the interior walls would improve the overall appearance and increase the home's value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of updating	Moderate	$3,000–15,000
bathroom fixtures · dated and in need of updating	Moderate	$3,000–15,000
flooring · carpeted floors in living areas	Minor	$500–3,000
interior walls · light-colored walls, some discoloration	Minor	$500–3,000
Total estimated repair cost · 4 items		$7,000–36,000

Value-add ROI direction

• Both update kitchen cabinets and countertops — modernizing the kitchen would improve both resale and rental value ↑
• Both update bathroom fixtures and flooring — modernizing the bathrooms would improve both resale and rental value ↑
• Both paint interior walls — painting the interior walls would improve the overall appearance 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

-10.0% since first listed

5 events — show timeline

• 2026-04-13 Price Changed $189,000 BRIGHT MLS
• 2026-03-07 Relisted — BRIGHT MLS
• 2026-02-28 Listing Removed — BRIGHT MLS
• 2025-12-06 Price Changed $199,000 BRIGHT MLS
• 2025-11-03 Listed $210,000 BRIGHT MLS