516 Kohn St · Norristown, PA 19401

$259,900

2 bd · 2.0 ba · 1,440 sqft · MultiFamily public records · 26 Days on market

Built 1895 1,425 sqft lot Est $238k · 9% over

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Why this score? — see what drove the C+ 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
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• Livability +4.2/5.0
• ARV discount +3.3/15.0
• 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 MLS

Second Floor Apt. needs to be rehabed, Separate Gas and Electric & Heat & Hot Water. .. .Walking distance to shopping & transportation. Nice Investment being sold as is condition. Buyer is responsible for U & O.

Key facts

• 1,425 sq ft lot
• Built 1895
• Listed 26 days

Property features AI

Finance

• Financial info: Two-unit building; Apartment rental income reported; Month-to-month lease(s) present; Total actual rent reported annually: $12,000

Exterior

• Parking: On-street parking
• Utilities: Circuit breaker electric; Natural gas available; Hot water by natural gas; Public water; Public sewer; Cable TV available
• Home design: Interior townhouse/rowhouse; Fee simple ownership; Very good condition; Major renovation circa 2015
• Construction: Block and stone foundation; Rubber roof
• Exterior features: Brick exterior; Sidewalks; Street lights

Interior

• Bedrooms: One single-room unit; One two-bedroom unit
• Flooring: Carpet; Ceramic tile; Laminate
• Heating & cooling: 90% efficient forced air heating (natural gas)
• Interior features: Full basement; Sidewalks; Street lights

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $260k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $562/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $260k).
• Recommended offer: $256k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.5% 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: 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.
• Zoned schools: Stewart Ms (math 6% / reading 27%, grade F, #463 of 512 statewide, top 91%, 798 students, 100% FRL); Norristown Area Hs (math 42% / reading 8%, grade F, #375 of 437 statewide, top 86%, 2,309 students, 83% FRL) — zoned schools average 92% FRL vs 70% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.3%/yr); 166 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 1,936 units permitted in Montgomery County in 2024 (530 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 $8k 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 $73k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($256k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y 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.
• Current owner paid $78k; list at $260k implies a 233% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1895 — 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 $256,001 (1.5% below list)

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 1895 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.40% ✓
• Cap rate: 11.48%
• Cash-on-cash: 18.54%
• DSCR: 1.82
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $237,600
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
516 Kohn St	0.00mi	3/2.0 (+1)	1,440 (0%)	1mo	$245,000	$170	94
707 W Marshall St	0.13mi	3/— (+1)	1,542 (+7%)	21mo	$255,000	$165	59
332 Green St	0.70mi	3/2.0 (+1)	1,368 (-5%)	2mo	$215,000	$157	53

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: 8.4%
• Equity multiple: 1.32×
• Total profit: $23,372
• Equity at exit: $38,752

10-year hold

• IRR: 16.1%
• Equity multiple: 2.21×
• Total profit: $88,281
• Equity at exit: $22,471

Cash invested: $72,772 (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: 166
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $3,635 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$276 /mo · $3,313/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$763
• Net cashflow: $1,124

Break-even live

Break-even rent $2,212

Max offer price $259,900

Occupancy floor 64%

Sensitivity live

Price	-10% $1,271	-5% $1,198	+0% $1,124	+5% $1,051	+10% $977
Rent	-10% $837	-5% $981	+0% $1,124	+5% $1,268	+10% $1,412
Rate	-1.0pp $1,255	-0.5pp $1,190	base $1,124	+0.5pp $1,057	+1.0pp $989

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,636
Total (2 units)			$3,635

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
542 Stanbridge St #1 Norristown, PA	3.0	1.0	1400	$2,200	$1.57	25d	1	0.13mi
206 Chain St Norristown, PA	3.0	1.0	1440	$2,200	$1.53	44d	1	0.20mi
119 Pearl St Unit 1 Norristown, PA	3.0	1.5	1428	$1,750	$1.23	19d	1	0.25mi
119 Pearl St Norristown, PA	3.0	2.0	1428	$1,750	$1.23	19d	1	0.25mi
124 Knox St Norristown, PA	3.0	1.0	1170	$2,043	$1.75	19d	1	0.26mi
502 Buttonwood St Norristown, PA	3.0	1.0	1330	$2,100	$1.58	25d	1	0.29mi
1115 W Main St Unit 2 Norristown, PA	3.0	1.5	1050	$2,010	$1.91	44d	1	0.38mi
515 Cherry St Norristown, PA	3.0	3.0	1100	$1,995	$1.81	25d	1	0.44mi
718 Selma St Norristown, PA	1.0	1.0	1440	$1,500	$1.04	44d	1	0.55mi
1331 Astor St Unit 2 Norristown, PA	2.0	1.0	1720	$1,900	$1.10	6d	1	0.79mi
250 E Chestnut St Norristown, PA	3.0	1.0	1216	$2,724	$2.24	44d	1	0.80mi
244 Minor St Norristown, PA	2.0	1.0	1098	$1,700	$1.55	44d	1	0.81mi
1 Meadow Ln Jeffersonville, PA	2.0	1.0	975	$1,597	$1.64	44d	1	0.82mi
1 Meadow Ln Jeffersonville, PA	2.0	1.0	975	$1,847	$1.89	11d	1	0.82mi
1 Meadow Ln Jeffersonville, PA	1.0	1.0	950	$1,597	$1.68	3d	1	0.82mi
421 Wendover Dr Eagleville, PA	2.0	1.0	903	$1,940	$2.15	6d	1	0.90mi
1201 Arch St Unit 2nd Floor Norristown, PA	2.0	1.0	1200	$1,725	$1.44	25d	1	0.94mi
613 Walnut St Norristown, PA	3.0	1.0	1526	$1,925	$1.26	6d	1	0.96mi
1029 Northridge Dr Unit 82B Norristown, PA	2.0	1.0	903	$1,950	$2.16	44d	1	0.99mi
211 E Poplar St Norristown, PA	3.0	1.5	1414	$2,350	$1.66	44d	1	1.00mi
24 W Front St Bridgeport, PA	3.0	1.5	1136	$2,100	$1.85	19d	1	1.02mi
200 Ross Rd King of Prussia, PA	1.0–2.0	1.0	950	$1,750	$1.84	44d	1	1.11mi
1535 Willow St Norristown, PA	3.0	1.0	1186	$2,450	$2.07	19d	1	1.13mi
535 Sandy St Norristown, PA	2.0	2.0	1476	$1,699	$1.15	21d	1	1.14mi
417 E Fornance St Norristown, PA	2.0	1.0	1408	$1,650	$1.17	6d	1	1.16mi
3 Ford St Unit B Bridgeport, PA	2.0	2.5	1292	$2,550	$1.97	22d	1	1.24mi
301 E Brown St Unit A9 Norristown, PA	2.0	1.0	1000	$1,595	$1.59	45d	1	1.29mi
331 W Logan St Norristown, PA	1.0–2.0	1.0	750	$1,545	$2.06	4d	18	1.33mi
224 Lilac St King of Prussia, PA	3.0	2.5	1806	$3,950	$2.19	5d	1	1.35mi
1011 New Hope St Norristown, PA	1.0–2.0	1.0	807	$1,810	$2.24	2d	13	1.38mi
311 E 4th St Unit 9 Bridgeport, PA	2.0	1.0	900	$1,800	$2.00	25d	1	1.38mi
708 Carmen Dr Apt B Norristown, PA	2.0	1.0	1000	$1,650	$1.65	22d	1	1.44mi
900 Luxor Ln Norristown, PA	2.0	1.0–2.0	754	$2,070	$2.74	44d	20	1.48mi
117 Hamlet Dr King of Prussia, PA	3.0	2.5	1440	$3,000	$2.08	2d	1	1.49mi

Listing history 13 events

1. 2026-04-30
   status Pending
2. 2026-02-27
   historical Active Under Contract
3. 2026-02-15
   status Active
4. 2026-02-04
   historical Active Under Contract
5. 2026-01-22
   listed $259,900 Active
6. 2026-01-18
   historical $259,900
7. 2006-01-27
   soldstatus $78,000
8. 2006-01-26
   soldstatus $78,000 235-char remark

   Show marketing remark (235 chars)

   Second Floor Apt. needs to be rehabed, Separate Gas and Electric & Heat & Hot Water. .. .Walking distance to shopping & transportation. Nice Investment being sold as is condition. Buyer is responsible for U & O.

9. 2006-01-10
   historical 235-char remark

   Show marketing remark (235 chars)

   Second Floor Apt. needs to be rehabed, Separate Gas and Electric & Heat & Hot Water. .. .Walking distance to shopping & transportation. Nice Investment being sold as is condition. Buyer is responsible for U & O.

10. 2005-12-10
    listed $78,000 235-char remark

    Show marketing remark (235 chars)

    Second Floor Apt. needs to be rehabed, Separate Gas and Electric & Heat & Hot Water. .. .Walking distance to shopping & transportation. Nice Investment being sold as is condition. Buyer is responsible for U & O.

11. 1990-03-28
    soldstatus $83,500
12. 1989-06-16
    soldstatus $45,000
13. 1984-03-16
    soldstatus $29,000

ⓘ 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: $3,313 · $276/mo
• Projected year-2 tax: $3,710 · $309/mo
• Expected delta: +$397/yr (+$33/mo · 12.0%)

ⓘ 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 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $43,620
• − Mortgage interest: −$14,558
• − Property taxes: −$3,313
• − Insurance: −$1,300
• − Repairs & maintenance: −$3,490
• − Management: −$3,490
• − Depreciation: −$7,561
• Taxable income: $9,910
• Est. tax owed @ 24.0%: −$2,378
• After-tax cash flow: $11,114/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

+796.2% since first listed

13 events — show timeline

• 2026-04-30 Pending — BRIGHT MLS
• 2026-02-27 Contingent — BRIGHT MLS
• 2026-02-15 Relisted — BRIGHT MLS
• 2026-02-04 Contingent — BRIGHT MLS
• 2026-01-22 Listed $259,900 BRIGHT MLS
• 2026-01-18 Coming Soon $259,900 BRIGHT MLS
• 2006-01-27 Sold (Public Records) $78,000 Public Records
• 2006-01-26 Sold (MLS) $78,000 BRIGHT MLS
• 2006-01-10 Listing Removed — BRIGHT MLS
• 2005-12-10 Listed $78,000 BRIGHT MLS
• 1990-03-28 Sold (Public Records) $83,500 Public Records
• 1989-06-16 Sold (Public Records) $45,000 Public Records
• 1984-03-16 Sold (Public Records) $29,000 Public Records

Property tax history

+2.6%/yr

Latest (2026): $3,313 · +2.3% YoY. Source: county tax records.