39 Jacoby St · Norristown, PA 19401

$175,000

5 bd · 2.0 ba · 2,550 sqft · MultiFamily public records · 4 Days on market

Built 1900 2,200 sqft lot Est $260k · 33% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.2/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Massive duplex opportunity in the heart of Norristown! This oversized brick end-row property offers tremendous upside for investors looking to capitalize on the strong rental demand in the area. The first-floor unit features 1 bedroom and 1 full bath, while the expansive second and third-floor unit offers 4 bedrooms and 1 full bath with plenty of living space. The property is in need of renovation and is being sold strictly as-is, making it the perfect value-add project for investors, flippers, or savvy buyers looking to build equity. Solid brick construction, end-unit row, and generous square footage provide an excellent foundation for your next investment. This is a no-brainer opportunity

Key facts

• 2,200 sq ft lot
• Built 1900
• Listed 4 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: 2 total units; End of row/townhouse
• Construction: Brick construction; Stone foundation; Built year source: Assessor
• Exterior features: Brick exterior; Stone foundation; Above-grade and below-grade structures

Interior

• Bedrooms: One 1-bedroom unit (multi-unit property)
• Heating & cooling: Central heating; Natural gas heating; Natural gas hot water
• Interior features: End of row/townhouse layout; Fee simple ownership

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $175k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $835/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $175k).
• Cap rate 17.7% vs local median 4.5% in Norristown — 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 84/100 on livability (#100 in PA, #720 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools C-, crime D-.
• Norristown Area SD (suburban): math 18% / reading 31% proficiency, ranked #466 of 539 in PA (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.3%/yr); 164 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,936 units permitted in Montgomery County in 2024 (530 in 5+ unit buildings).
• At $3,847/mo this rent would consume 66% of the median local household income ($70k/yr) (locally 2725% 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 $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.
• At projected returns (-3.0% appreciation + 1.3% rent growth), your $49k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $50k; list at $175k implies a 250% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $175,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 2.20% ✓
• Cap rate: 17.74%
• Cash-on-cash: 40.89%
• DSCR: 2.82
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $260,100
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
664 Chain St	0.44mi	6/2.0 (+1)	2,568 (+1%)	10mo	$350,000	$136	65
711 Swede St	0.16mi	5/—	2,196 (-14%)	7mo	$223,000	$102	64
424 E Marshall St	0.46mi	5/—	2,278 (-11%)	7mo	$223,000	$98	55
514 Astor St	0.51mi	5/2.0	2,418 (-5%)	15mo	$188,990	$78	55
1418 Pine St	0.49mi	4/— (-1)	2,323 (-9%)	6mo	$330,000	$142	52
515 Cherry St	0.33mi	5/5.0	2,664 (+4%)	16mo	$395,000	$148	52
418 W Airy St	0.57mi	4/— (-1)	2,352 (-8%)	10mo	$175,000	$74	47
905 W Marshall St	0.74mi	5/—	2,176 (-15%)	3mo	$323,000	$148	39
536 Haws Ave	0.66mi	4/2.0 (-1)	2,793 (+10%)	24mo	$242,500	$87	29

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 · 1.29% rent growth · sell at horizon

5-year hold

• IRR: 35.4%
• Equity multiple: 2.46×
• Total profit: $71,645
• Equity at exit: $26,093

10-year hold

• IRR: 41.2%
• Equity multiple: 4.55×
• Total profit: $174,167
• Equity at exit: $15,131

Cash invested: $49,000 (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 19401

• Rents YoY: 1.3%
• Active inventory: 164
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $3,847 high
• Mortgage (P&I): −$918
• Tax from tax record: −$379 /mo · $4,544/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$808
• Net cashflow: $1,670

Break-even live

Break-even rent $1,733

Max offer price $175,000

Occupancy floor 52%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,848
Total (2 units)			$3,847

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
217 E Marshall St Norristown, PA	5.0	1.5	2142	$2,450	$1.14	4d	1	0.27mi
540 George St Norristown, PA	5.0	2.0	2054	$2,595	$1.26	24d	1	0.55mi
533 Buttonwood St Norristown, PA	5.0	2.0	1888	$2,300	$1.22	14d	1	0.91mi
310 Prospect Ave Bridgeport, PA	4.0	2.5	1920	$3,100	$1.61	43d	1	1.15mi

Listing history 3 events

1. 2026-05-12
   status Pending
2. 2026-05-08
   listed $175,000 Active
3. 1988-10-14
   soldstatus $50,000

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

Tax reassessment forecast PA · Partial reset (capped growth)

• Current annual tax: $4,544 · $379/mo
• Projected year-2 tax: $4,544 · $379/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥102°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 5 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,164
• − Mortgage interest: −$9,803
• − Property taxes: −$4,544
• − Insurance: −$875
• − Repairs & maintenance: −$3,693
• − Management: −$3,693
• − Depreciation: −$5,091
• Taxable income: $18,466
• Est. tax owed @ 24.0%: −$4,432
• After-tax cash flow: $15,607/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: Norristown Area SD
• NCES district ID: 4216980
• Math proficiency: 18% ▼ -11.00%
• Reading proficiency: 31% ▼ -14.00%
• Median HH income: $56,024
• Composite: 22.17/100
• National rank: #8166
• State rank: #466 of 539 in PA

Livability — Norristown

• Score: 84/100
• State rank: #100
• US rank: #720

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Norristown, PA
• County: Montgomery County · 712,331 people
• City population: 87,376
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 43,359
• Household income: $69,908
• Rent vs Own: 54.8% rent · 45.2% own
• Severe rent burden: 2725.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 33% Black 29% Hispanic / Latino 29% Two or more races 16% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 16% Puerto Rican 5% Dominican 2%
• Common ancestry: Romanian 3% Slovak 1%
• Foreign-born: 17% · Canada, Jamaica, South Korea
• Languages at home: 71% English-only · Spanish 22% Other Indo-European 2% Russian/Polish/Slavic 1%

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: ▼ -203.75%
• Current HPI: 301.7748
• Rent YoY: ▲ 1.29%
• 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

+250.0% since first listed

3 events — show timeline

• 2026-05-12 Pending — BRIGHT MLS
• 2026-05-08 Listed $175,000 BRIGHT MLS
• 1988-10-14 Sold (Public Records) $50,000 Public Records

Property tax history

+2.6%/yr

Latest (2026): $4,544 · +2.3% YoY. Source: county tax records.