118 W Evergreen St · West Grove, PA 19390

$325,000

2 bd · 3.0 ba · 3,477 sqft · MultiFamily · 1 Days on market

Built 1900 Fair condition 0.26 ac lot Est $323k · at est.

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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 +7.3/15.0
• Schools +5.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Investor Alert in the heart of West Grove! This versatile mixed-use property offers strong income potential with three residential units plus a two-room office suite, all ideally positioned in a prime in-town location. The residential component includes (2) one-bedroom, one-bath apartments and (1) efficiency unit with full bath, providing multiple streams of rental income. (all on month to month lease) In addition, the two-room office suite presents an excellent opportunity for professional use, small business occupancy, or future value-add improvements. The property features electric service with two meters: • Meter #1 services the first-floor apartment, office space, and likely exter

Key facts

• Oil burner boiler
• 0.26 acre lot
• Built 1900

Tags

• THREE RESIDENTIAL UNITS
• TWO-ROOM OFFICE SUITE
• STRONG INCOME POTENTIAL
• 80-GALLON HOT WATER HEATER
• OIL BURNER BOILER
• ELECTRIC BASEBOARD HEAT

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath multifamily listed at $325k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $3k ($32k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $325k).
• Cap rate 16.2% vs local median 1.8% in West Grove — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 81/100 on livability (#183 in PA, #1,542 nationally) — a professional / high-income tenant draw. Strengths: crime A+, housing A+, employment A; Watch: amenities F, commute F.
• Avon Grove SD (suburban): math 54% / reading 61% proficiency, ranked #63 of 539 in PA (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Avon Grove Intrmd Sch (math 48% / reading 58%, grade C, #571 of 1,518 statewide, top 38%, 1,457 students, 32% FRL); Fred S Engle Ms (math 49% / reading 69%, grade B, #50 of 512 statewide, top 10%, 819 students, 30% FRL); Avon Grove Hs (math 80% / reading 24%, grade C-, #112 of 437 statewide, top 26%, 1,747 students, 24% FRL).
• Market conditions: 73 active listings in the ZIP; 1,513 units permitted in Chester County in 2024 (354 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 $10k of value loss. Plan a longer hold.
• Chester County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $91k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $325,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.92% ✓
• Cap rate: 16.25%
• Cash-on-cash: 35.55%
• DSCR: 2.58
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $323,361
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
118 W Evergreen St	0.00mi	2/3.0	3,477 (0%)	1mo	$325,000	$93	100

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 31.2%
• Equity multiple: 2.31×
• Total profit: $119,155
• Equity at exit: $48,459

10-year hold

• IRR: 38.4%
• Equity multiple: 4.57×
• Total profit: $325,265
• Equity at exit: $28,100

Cash invested: $91,000 (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 19390

• Home prices YoY: -27.7%
• Active inventory: 73
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $6,256 medium
• Mortgage (P&I): −$1,704
• Tax est. 1.5%: −$406 /mo · $4,875/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,314
• Net cashflow: $2,696

Break-even live

Break-even rent $2,843

Max offer price $325,000

Occupancy floor 52%

Sensitivity live

Price	-10% $2,921	-5% $2,809	+0% $2,696	+5% $2,584	+10% $2,472
Rent	-10% $2,202	-5% $2,449	+0% $2,696	+5% $2,943	+10% $3,190
Rate	-1.0pp $2,860	-0.5pp $2,779	base $2,696	+0.5pp $2,612	+1.0pp $2,526

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$6,255
Total (3 units)			$6,256

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-04-16
   status Pending
2. 2026-04-15
   listed $325,000 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: $75,072
• − Mortgage interest: −$18,205
• − Property taxes: −$4,875
• − Insurance: −$1,625
• − Repairs & maintenance: −$6,006
• − Management: −$6,006
• − Depreciation: −$9,455
• Taxable income: $28,901
• Est. tax owed @ 24.0%: −$6,936
• After-tax cash flow: $25,419/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 · 0 photos

Fair 40/100 Moderate rehab

This multi-family property requires significant renovations to improve its condition and increase its value. Immediate updates to the kitchen, bathrooms, and exterior are recommended to attract tenants and increase both resale and rental potential.

Repairs flagged

• Major Kitchen countertops and cabinets — Severe wear and tear, likely requiring replacement.
• Major Bathroom fixtures and tiles — Outdated and worn, likely requiring replacement.
• Major Flooring — Significant wear and tear, likely requiring replacement.
• Major Interior walls and paint — Cracks and peeling paint, likely requiring repainting.
• Major Exterior siding and paint — Peeling paint and possible rot, likely requiring replacement.
• Major Windows — Old and likely not energy-efficient, requiring replacement.

Value-add opportunities

• Both Kitchen renovation — A modern kitchen will attract more tenants and increase the property's resale value.
• Both Bathroom updates — Upgrading bathrooms will improve tenant satisfaction and increase both resale and rental value.
• Both Flooring replacement — New flooring will enhance the property's appearance and increase its value.
• Both Painting and exterior repairs — Fresh paint and repairs will improve the property's curb appeal and attract more tenants.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen countertops and cabinets · Severe wear and tear, likely requiring replacement.	Major	$15,000–50,000
Bathroom fixtures and tiles · Outdated and worn, likely requiring replacement.	Major	$15,000–50,000
Flooring · Significant wear and tear, likely requiring replacement.	Major	$15,000–50,000
Interior walls and paint · Cracks and peeling paint, likely requiring repainting.	Major	$15,000–50,000
Exterior siding and paint · Peeling paint and possible rot, likely requiring replacement.	Major	$15,000–50,000
Windows · Old and likely not energy-efficient, requiring replacement.	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both Kitchen renovation — A modern kitchen will attract more tenants and increase the property's resale value. ↑
• Both Bathroom updates — Upgrading bathrooms will improve tenant satisfaction and increase both resale and rental value. ↑
• Both Flooring replacement — New flooring will enhance the property's appearance and increase its value. ↑
• Both Painting and exterior repairs — Fresh paint and repairs will improve the property's curb appeal and attract more 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: Avon Grove SD
• NCES district ID: 4202790
• Math proficiency: 54% ▼ -13.00%
• Reading proficiency: 61% ▼ -15.00%
• Median HH income: $90,335
• Composite: 52.84/100
• National rank: #1536
• State rank: #63 of 539 in PA

Livability — West Grove

• Score: 81/100
• State rank: #183
• US rank: #1542

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Grove, PA
• Population (ZIP): 12,049

Population outlook (Chester County) Hauer SSP2

• Today (2025): 546,756 people
• By 2030: 559,441 · +2.3%
• By 2040: 576,377 · +5.4%
• By 2050: 580,602 · +6.2%
• By 2075: 581,575 · +6.4%
• By 2100: 540,922 · -1.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 17% Two or more races 9% Asian 5% Black 2%
• Hispanic origin (detail): Mexican 14% Puerto Rican 1%
• Common ancestry: Romanian 4% Italian 3% Slovak 2%
• Foreign-born: 9% · Canada, Vietnam, China
• Languages at home: 86% English-only · Spanish 10% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Chester

• 2024 margin: D (+14.5) · D 56.7% · R 42.2% · Other 1.0%
• 2008→2024 swing: +5.2pp toward D · 2008: 9.2pp · 2024: 14.5pp
• All cycles: 2024: D+14.5 2020: D+17.0 2016: D+9.2 2012: R+0.4 2008: D+9.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -102.59%
• Current HPI: 268.0284
• 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

2 events — show timeline

• 2026-04-16 Pending — BRIGHT MLS
• 2026-04-15 Listed $325,000 BRIGHT MLS