178 N Union Ave · Lansdowne, PA 19050

$88,000

4 bd · 2.0 ba · 2,594 sqft · SingleFamily public records · 21 Days on market

Built 1920 8,102 sqft lot

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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
• Rent growth +4.7/5.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Opportunity to own this Very Large and renovated Duplex on a spacious large lot, has large side yard and back yard with Prive 6-8 private space. With a projected generated gross income of $24,000 annually. Separate utilities with tenants paying gas, heat, electric. Both units are currently vacant and ready to move. Open front porch with separate entrances. First floor features, two nice sized bedrooms, large living room, new eat-in kitchen, a breakfast room or 3rd bedroom and laundry room. The second unit large living room, eat-in kitchen, Two bedrooms possibility of 3 bedrooms, There are three electric meters and two gas meters, two forced-air heating system. Many updates make this property a great value: New Kitchen Updated 2 bathrooms, the possibility of 3 bedrooms, New windows, water heater. New engineered hardwood floors throughout, All of this ideally located 5 mins from 69th street, 10 mins Springfield mall and 15 mins to Center City. Projected rents are estimated.

Key facts

• 8,102 sq ft lot
• Built 1920
• Listed 21 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $88k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $88k).
• Recommended offer: $87k (1.5% below list) — sets the bar for market timing.
• Cap rate 23.1% vs local median 4.2% in Lansdowne — 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 83/100 on livability (#128 in PA, #1,005 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+.
• William Penn SD (suburban): math 11% / reading 28% proficiency, ranked #491 of 539 in PA (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+8.9%/yr); 96 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 299 units permitted in Delaware County in 2024 (5 in 5+ unit buildings).
• At $2,332/mo this rent would consume 46% of the median local household income ($61k/yr) (locally 1738% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $608 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 30y ago; this cycle's ask is 6940% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $86,680 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.65% ✓
• Cap rate: 23.12%
• Cash-on-cash: 60.09%
• DSCR: 3.67
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $383,912
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
270 Wayne Ave	0.49mi	4/2.0	2,561 (-1%)	12mo	$101,000	$39	65
283 Wayne Ave	0.51mi	4/1.5	2,660 (+2%)	12mo	$381,000	$143	60
309 N Maple Ave	0.29mi	5/3.5 (+1)	2,816 (+9%)	8mo	$522,000	$185	55
121 Penn Blvd	0.39mi	4/2.5	2,861 (+10%)	11mo	$360,000	$126	53
29 N Maple Ave	0.37mi	5/1.5 (+1)	2,320 (-11%)	11mo	$226,000	$97	49
58 Price Ave	0.27mi	5/1.0 (+1)	2,284 (-12%)	13mo	$290,000	$127	48
75 W Stratford Ave	0.59mi	4/3.5	2,435 (-6%)	12mo	$450,000	$185	46
281 Wayne Ave	0.49mi	3/2.0 (-1)	2,345 (-10%)	12mo	$347,600	$148	46
316 Lincoln Ave	0.64mi	5/2.5 (+1)	2,389 (-8%)	7mo	$385,000	$161	44
331 Clearbrook Ave	0.62mi	5/2.5 (+1)	2,323 (-10%)	5mo	$375,000	$161	43
15 E Albemarle Ave	0.55mi	4/3.5	2,944 (+14%)	6mo	$495,000	$168	41
63 W Greenwood Ave W	0.55mi	5/3.0 (+1)	2,248 (-13%)	9mo	$210,000	$93	36

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 64.4%
• Equity multiple: 4.11×
• Total profit: $76,680
• Equity at exit: $13,121

10-year hold

• IRR: 70.5%
• Equity multiple: 10.10×
• Total profit: $224,184
• Equity at exit: $7,609

Cash invested: $24,640 (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 19050

• Rents YoY: 8.9%
• Active inventory: 96
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $2,332 medium
• Mortgage (P&I): −$461
• Tax est. 1.5%: −$110 /mo · $1,320/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$490
• Net cashflow: $1,234

Break-even live

Break-even rent $770

Max offer price $88,000

Occupancy floor 42%

Sensitivity live

Price	-10% $1,295	-5% $1,264	+0% $1,234	+5% $1,203	+10% $1,173
Rent	-10% $1,050	-5% $1,142	+0% $1,234	+5% $1,326	+10% $1,418
Rate	-1.0pp $1,278	-0.5pp $1,256	base $1,234	+0.5pp $1,211	+1.0pp $1,188

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: $22,000
• Closing costs: $2,640
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7203 Wayne Ave Upper Darby, PA	5.0	4.0	3016	$3,400	$1.13	45d	1	1.05mi

Listing history 32 events

1. 2025-08-04
   historical $1,250
2. 2025-05-06
   listed $1,250
3. 2024-03-08
   historical $1,250
4. 2024-02-22
   listed $1,250
5. 2019-10-15
   historical 995-char remark

   Show marketing remark (995 chars)

   Great Opportunity to own this Very Large and renovated Duplex on a spacious large lot, has large side yard and back yard with Prive 6-8 private space. With a projected generated gross income of $24,000 annually. Separate utilities with tenants paying gas, heat, electric. Both units are currently vacant and ready to move. Open front porch with separate entrances. First floor features, two nice sized bedrooms, large living room, new eat-in kitchen, a breakfast room or 3rd bedroom and laundry room. The second unit large living room, eat-in kitchen, Two bedrooms possibility of 3 bedrooms, There are three electric meters and two gas meters, two forced-air heating system. Many updates make this property a great value: New Kitchen Updated 2 bathrooms, the possibility of 3 bedrooms, New windows, water heater. New engineered hardwood floors throughout, All of this ideally located 5 mins from 69th street, 10 mins Springfield mall and 15 mins to Center City. Projected rents are estimated.

6. 2019-09-30
   soldstatus $175,000
7. 2019-09-12
   soldstatus $175,000 Closed 995-char remark

   Show marketing remark (995 chars)

   Great Opportunity to own this Very Large and renovated Duplex on a spacious large lot, has large side yard and back yard with Prive 6-8 private space. With a projected generated gross income of $24,000 annually. Separate utilities with tenants paying gas, heat, electric. Both units are currently vacant and ready to move. Open front porch with separate entrances. First floor features, two nice sized bedrooms, large living room, new eat-in kitchen, a breakfast room or 3rd bedroom and laundry room. The second unit large living room, eat-in kitchen, Two bedrooms possibility of 3 bedrooms, There are three electric meters and two gas meters, two forced-air heating system. Many updates make this property a great value: New Kitchen Updated 2 bathrooms, the possibility of 3 bedrooms, New windows, water heater. New engineered hardwood floors throughout, All of this ideally located 5 mins from 69th street, 10 mins Springfield mall and 15 mins to Center City. Projected rents are estimated.

8. 2019-08-07
   status Pending 995-char remark

   Show marketing remark (995 chars)

   Great Opportunity to own this Very Large and renovated Duplex on a spacious large lot, has large side yard and back yard with Prive 6-8 private space. With a projected generated gross income of $24,000 annually. Separate utilities with tenants paying gas, heat, electric. Both units are currently vacant and ready to move. Open front porch with separate entrances. First floor features, two nice sized bedrooms, large living room, new eat-in kitchen, a breakfast room or 3rd bedroom and laundry room. The second unit large living room, eat-in kitchen, Two bedrooms possibility of 3 bedrooms, There are three electric meters and two gas meters, two forced-air heating system. Many updates make this property a great value: New Kitchen Updated 2 bathrooms, the possibility of 3 bedrooms, New windows, water heater. New engineered hardwood floors throughout, All of this ideally located 5 mins from 69th street, 10 mins Springfield mall and 15 mins to Center City. Projected rents are estimated.

9. 2019-08-07
   price $174,900 995-char remark

   Show marketing remark (995 chars)

   Great Opportunity to own this Very Large and renovated Duplex on a spacious large lot, has large side yard and back yard with Prive 6-8 private space. With a projected generated gross income of $24,000 annually. Separate utilities with tenants paying gas, heat, electric. Both units are currently vacant and ready to move. Open front porch with separate entrances. First floor features, two nice sized bedrooms, large living room, new eat-in kitchen, a breakfast room or 3rd bedroom and laundry room. The second unit large living room, eat-in kitchen, Two bedrooms possibility of 3 bedrooms, There are three electric meters and two gas meters, two forced-air heating system. Many updates make this property a great value: New Kitchen Updated 2 bathrooms, the possibility of 3 bedrooms, New windows, water heater. New engineered hardwood floors throughout, All of this ideally located 5 mins from 69th street, 10 mins Springfield mall and 15 mins to Center City. Projected rents are estimated.

10. 2019-07-03
    listed $169,900 Active 995-char remark

    Show marketing remark (995 chars)

    Great Opportunity to own this Very Large and renovated Duplex on a spacious large lot, has large side yard and back yard with Prive 6-8 private space. With a projected generated gross income of $24,000 annually. Separate utilities with tenants paying gas, heat, electric. Both units are currently vacant and ready to move. Open front porch with separate entrances. First floor features, two nice sized bedrooms, large living room, new eat-in kitchen, a breakfast room or 3rd bedroom and laundry room. The second unit large living room, eat-in kitchen, Two bedrooms possibility of 3 bedrooms, There are three electric meters and two gas meters, two forced-air heating system. Many updates make this property a great value: New Kitchen Updated 2 bathrooms, the possibility of 3 bedrooms, New windows, water heater. New engineered hardwood floors throughout, All of this ideally located 5 mins from 69th street, 10 mins Springfield mall and 15 mins to Center City. Projected rents are estimated.

11. 2019-01-14
    status Pending
12. 2018-12-24
    listed $88,000 Active
13. 2017-05-30
    historical
14. 2015-11-09
    historical
15. 2015-08-14
    listed $129,900
16. 2015-04-04
    listed $139,900
17. 2013-12-30
    historical
18. 2013-02-03
    listed $175,000
19. 2007-12-30
    historical
20. 2007-09-11
    listed $220,000
21. 2005-08-11
    soldstatus $139,900
22. 2005-08-05
    soldstatus $139,900
23. 2005-06-09
    historical
24. 2005-06-02
    listed $139,900
25. 2005-04-29
    soldstatus $124,500
26. 2005-03-24
    historical
27. 2004-11-02
    listed $124,500
28. 2000-11-29
    soldstatus $100,000
29. 1997-07-08
    historical
30. 1996-12-13
    listed $74,900
31. 1986-11-26
    soldstatus $55,000
32. 1983-05-01
    soldstatus $42,500

ⓘ 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: $27,979
• − Mortgage interest: −$4,929
• − Property taxes: −$1,320
• − Insurance: −$440
• − Repairs & maintenance: −$2,238
• − Management: −$2,238
• − Depreciation: −$2,560
• Taxable income: $14,253
• Est. tax owed @ 24.0%: −$3,421
• After-tax cash flow: $11,385/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: William Penn SD
• NCES district ID: 4226390
• Math proficiency: 11% ▼ -3.00%
• Reading proficiency: 28% ▼ -7.00%
• Median HH income: $48,543
• Composite: 17.29/100
• National rank: #9086
• State rank: #491 of 539 in PA

Livability — Lansdowne

• Score: 83/100
• State rank: #128
• US rank: #1005

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lansdowne, PA
• County: Delaware County · 399,863 people
• City population: 29,373
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 29,373
• Household income: $60,859
• Rent vs Own: 41.5% rent · 58.5% own
• Severe rent burden: 1738.0

Population outlook (Delaware County) Hauer SSP2

• Today (2025): 577,490 people
• By 2030: 581,243 · +0.6%
• By 2040: 584,700 · +1.2%
• By 2050: 586,581 · +1.6%
• By 2075: 598,706 · +3.7%
• By 2100: 590,823 · +2.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (67%)
• Race & ethnicity: Black 67% White 22% Two or more races 5% Hispanic / Latino 5% Asian 2%
• Common ancestry: Swiss 4% Hispanic 3% Lithuanian 1%
• Foreign-born: 17% · Canada, United Kingdom, Vietnam
• Languages at home: 84% English-only · French/Haitian/Cajun 5% Spanish 3% Other Indo-European 1%

Political lean MEDSL · Delaware

• 2024 margin: Strong D (+23.7) · D 61.4% · R 37.6% · Other 1.0%
• 2008→2024 swing: +2.3pp toward D · 2008: 21.4pp · 2024: 23.7pp
• All cycles: 2024: D+23.7 2020: D+26.7 2016: D+22.0 2012: D+21.8 2008: D+21.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -202.83%
• Current HPI: 287.6419
• Rent YoY: ▲ 8.87%
• 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

-97.1% since first listed

32 events — show timeline

• 2025-08-04 Rental Removed $1,250 BRIGHTMLS
• 2025-05-06 Listed for Rent $1,250 BRIGHTMLS
• 2024-03-08 Rental Removed $1,250 BRIGHTMLS
• 2024-02-22 Listed for Rent $1,250 BRIGHTMLS
• 2019-10-15 Listing Removed — BRIGHT MLS
• 2019-09-30 Sold (Public Records) $175,000 Public Records
• 2019-09-12 Sold (MLS) $175,000 BRIGHT MLS
• 2019-08-07 Pending — BRIGHT MLS
• 2019-08-07 Price Changed $174,900 BRIGHT MLS
• 2019-07-03 Listed $169,900 BRIGHT MLS
• 2019-01-14 Pending — BRIGHT MLS
• 2018-12-24 Listed $88,000 BRIGHT MLS
• 2017-05-30 Listing Removed — BRIGHT MLS
• 2015-11-09 Listing Removed — BRIGHT MLS
• 2015-08-14 Listed $129,900 BRIGHT MLS
• 2015-04-04 Listed $139,900 BRIGHT MLS
• 2013-12-30 Listing Removed — BRIGHT MLS
• 2013-02-03 Listed $175,000 BRIGHT MLS
• 2007-12-30 Listing Removed — BRIGHT MLS
• 2007-09-11 Listed $220,000 BRIGHT MLS
• 2005-08-11 Sold (Public Records) $139,900 Public Records
• 2005-08-05 Sold (MLS) $139,900 BRIGHT MLS
• 2005-06-09 Listing Removed — BRIGHT MLS
• 2005-06-02 Listed $139,900 BRIGHT MLS
• 2005-04-29 Sold (MLS) $124,500 BRIGHT MLS
• 2005-03-24 Listing Removed — BRIGHT MLS
• 2004-11-02 Listed $124,500 BRIGHT MLS
• 2000-11-29 Sold (Public Records) $100,000 Public Records
• 1997-07-08 Listing Removed — BRIGHT MLS
• 1996-12-13 Listed $74,900 BRIGHT MLS
• 1986-11-26 Sold (Public Records) $55,000 Public Records
• 1983-05-01 Sold (Public Records) $42,500 Public Records

Property tax history

+3.4%/yr

Latest (2026): $8,616 · +44.3% YoY. Source: county tax records.