653 Corson St · Norristown, PA 19401

$190,000

3 bd · 1.0 ba · 1,496 sqft · Townhouse public records · 34 Days on market

Built 1850 1,500 sqft lot Est $271k · 30% under

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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 +22.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +6.2/10.0
• 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

Listing remarks MLS

Impeccable brick row in absolutely move-in condition! This beautifully updated and maintained home features a new kitchen, newer bath and all new windows. Chair rail, beadboard and built in cabinetry highlight the charming decor. The huge walk-in closet on the second floor has the potential to be a 4th bedroom or office, and the partially finished basement adds to the living area. Off street parking, walk to transportation, -MUST SEE! * * * One Year AHS Home Warranty Included * * *

Key facts

• 2 parking spots
• Built 1850
• Listed 34 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $190k.

Deal economics

• At list price, monthly cash flow is $310 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $184k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 4.1% 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); 168 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); 1,936 units permitted in Montgomery County in 2024 (530 in 5+ unit buildings).
• This rent runs 36% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 34 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 29y 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 $104k; list at $190k implies a 83% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1850 — 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 $184,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1850 — 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. 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?
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 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: 1.12% ✓
• Cap rate: 8.25%
• Cash-on-cash: 6.99%
• DSCR: 1.31
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $270,776
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
543 Corson St	0.13mi	4/1.0 (+1)	1,554 (+4%)	3mo	$175,000	$113	80
332 James St	0.33mi	4/2.0 (+1)	1,500 (+0%)	1mo	$285,000	$190	74
206 Chain St	0.37mi	3/1.0	1,440 (-4%)	4mo	$180,000	$125	73
1423 Locust St	0.69mi	3/1.0	1,502 (+0%)	1mo	$285,000	$190	66
1445 Willow St	0.75mi	3/1.0	1,476 (-1%)	1mo	$220,000	$149	62
712 Selma St	0.67mi	3/1.5	1,440 (-4%)	2mo	$320,000	$222	58
1040 Green St	0.54mi	4/1.0 (+1)	1,590 (+6%)	3mo	$175,000	$110	57
709 Belair Cir	0.72mi	4/1.5 (+1)	1,482 (-1%)	2mo	$295,000	$199	56
203 Chain St	0.38mi	4/2.0 (+1)	1,325 (-11%)	2mo	$239,900	$181	52
909 Noble St	0.54mi	3/1.0	1,280 (-14%)	3mo	$194,000	$152	48
1111 W Lafayette St	0.69mi	3/1.0	1,316 (-12%)	1mo	$250,000	$190	47
219 E Basin St	0.62mi	3/1.0	1,285 (-14%)	2mo	$165,000	$128	46

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: -7.6%
• Equity multiple: 0.73×
• Total profit: $-14,580
• Equity at exit: $28,330

10-year hold

• IRR: -0.4%
• Equity multiple: 0.98×
• Total profit: $-1,248
• Equity at exit: $16,428

Cash invested: $53,200 (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: 168
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,119 high
• Mortgage (P&I): −$996
• Tax from tax record: −$289 /mo · $3,468/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $310

Break-even live

Break-even rent $1,727

Max offer price $190,000

Occupancy floor 80%

Sensitivity live

Price	-10% $417	-5% $364	+0% $310	+5% $256	+10% $202
Rent	-10% $142	-5% $226	+0% $310	+5% $393	+10% $477
Rate	-1.0pp $405	-0.5pp $358	base $310	+0.5pp $261	+1.0pp $210

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
712 George St Unit 2 Norristown, PA	4.0	1.0	1485	$2,500	$1.68	46d	1	0.18mi
126 W Elm St Norristown, PA	4.0	1.5	1500	$2,000	$1.33	17d	1	0.20mi
515 Cherry St Norristown, PA	3.0	3.0	1100	$1,995	$1.81	27d	1	0.22mi
134 W Airy St Norristown, PA	4.0	1.0	1116	$3,036	$2.72	46d	1	0.23mi
639 Haws Ave Norristown, PA	3.0	1.0	1800	$1,900	$1.06	0d	1	0.32mi
206 Chain St Norristown, PA	3.0	1.0	1440	$2,200	$1.53	46d	1	0.37mi
119 Pearl St Norristown, PA	3.0	2.0	1428	$1,750	$1.23	21d	1	0.39mi
119 Pearl St Unit 1 Norristown, PA	3.0	1.5	1428	$1,750	$1.23	21d	1	0.39mi
542 Stanbridge St #1 Norristown, PA	3.0	1.0	1400	$2,200	$1.57	27d	1	0.42mi
534 Green St Norristown, PA	4.0	1.0	1612	$1,800	$1.12	24d	1	0.45mi
244 Minor St Norristown, PA	2.0	1.0	1098	$1,700	$1.55	46d	1	0.50mi
250 E Chestnut St Norristown, PA	3.0	1.0	1216	$2,724	$2.24	46d	1	0.51mi
124 Knox St Norristown, PA	3.0	1.0	1170	$2,043	$1.75	20d	1	0.56mi
1331 Astor St Unit 2 Norristown, PA	2.0	1.0	1720	$1,900	$1.10	8d	1	0.59mi
502 Buttonwood St Norristown, PA	3.0	1.0	1330	$2,100	$1.58	27d	1	0.59mi
1201 Arch St Unit 2nd Floor Norristown, PA	2.0	1.0	1200	$1,725	$1.44	27d	1	0.62mi
221 E Wood St Norristown, PA	4.0	1.0	1527	$2,277	$1.49	46d	1	0.64mi
613 Walnut St Norristown, PA	3.0	1.0	1526	$1,925	$1.26	8d	1	0.68mi
211 E Poplar St Norristown, PA	3.0	1.5	1414	$2,350	$1.66	46d	1	0.68mi
1115 W Main St Unit 2 Norristown, PA	3.0	1.5	1050	$2,010	$1.91	46d	1	0.69mi
1109 W James St Unit 2 Norristown, PA	2.0	1.0	1000	$1,695	$1.70	0d	1	0.70mi
1535 Willow St Norristown, PA	3.0	1.0	1186	$2,450	$2.07	20d	1	0.84mi
417 E Fornance St Norristown, PA	2.0	1.0	1408	$1,650	$1.17	8d	1	0.84mi
535 Sandy St Norristown, PA	2.0	2.0	1476	$1,699	$1.15	23d	1	0.87mi
24 W Front St Bridgeport, PA	3.0	1.5	1136	$2,100	$1.85	21d	1	0.90mi
1 Meadow Ln Jeffersonville, PA	2.0	1.0	975	$1,847	$1.89	13d	1	0.98mi
1 Meadow Ln Jeffersonville, PA	2.0	1.0	975	$1,597	$1.64	46d	1	0.98mi
301 E Brown St Unit A9 Norristown, PA	2.0	1.0	1000	$1,595	$1.59	47d	1	0.98mi
1011 New Hope St Norristown, PA	1.0–2.0	1.0	807	$1,810	$2.24	0d	13	1.07mi
106 W 5th St Bridgeport, PA	4.0	1.5	1662	$2,850	$1.71	27d	1	1.08mi
3 Ford St Unit B Bridgeport, PA	2.0	2.5	1292	$2,550	$1.97	24d	1	1.08mi
421 Wendover Dr Eagleville, PA	2.0	1.0	903	$1,940	$2.15	8d	1	1.11mi
331 W Logan St Norristown, PA	1.0–2.0	1.0	750	$1,545	$2.06	5d	18	1.12mi
708 Carmen Dr Apt B Norristown, PA	2.0	1.0	1000	$1,650	$1.65	24d	1	1.13mi
1029 Northridge Dr Unit 82B Norristown, PA	2.0	1.0	903	$1,950	$2.16	46d	1	1.16mi
1809 Chain St Norristown, PA	4.0	2.0	1344	$2,800	$2.08	46d	1	1.17mi
311 E 4th St Unit 9 Bridgeport, PA	2.0	1.0	900	$1,800	$2.00	27d	1	1.19mi
900 Luxor Ln Norristown, PA	2.0	1.0–2.0	754	$2,070	$2.74	46d	20	1.19mi
344 Grove St Bridgeport, PA	4.0	2.0	1484	$2,895	$1.95	46d	1	1.21mi
200 Ross Rd King of Prussia, PA	1.0–2.0	1.0	950	$1,750	$1.84	46d	1	1.21mi

Listing history 16 events

1. 2026-04-29
   status Pending
2. 2026-04-27
   historical
3. 2026-03-25
   listed $190,000 Active
4. 2026-03-24
   historical $190,000
5. 2017-01-10
   historical
6. 2016-09-13
   listed $75,000
7. 2007-04-04
   soldstatus $104,000
8. 2007-03-28
   soldstatus $104,000 492-char remark

   Show marketing remark (492 chars)

   Impeccable brick row in absolutely move-in condition! This beautifully updated and maintained home features a new kitchen, newer bath and all new windows. Chair rail, beadboard and built in cabinetry highlight the charming decor. The huge walk-in closet on the second floor has the potential to be a 4th bedroom or office, and the partially finished basement adds to the living area. Off street parking, walk to transportation, -MUST SEE! * * * One Year AHS Home Warranty Included * * *

9. 2007-01-11
   listed $104,000 492-char remark

   Show marketing remark (492 chars)

   Impeccable brick row in absolutely move-in condition! This beautifully updated and maintained home features a new kitchen, newer bath and all new windows. Chair rail, beadboard and built in cabinetry highlight the charming decor. The huge walk-in closet on the second floor has the potential to be a 4th bedroom or office, and the partially finished basement adds to the living area. Off street parking, walk to transportation, -MUST SEE! * * * One Year AHS Home Warranty Included * * *

10. 2007-01-11
    historical 492-char remark

    Show marketing remark (492 chars)

    Impeccable brick row in absolutely move-in condition! This beautifully updated and maintained home features a new kitchen, newer bath and all new windows. Chair rail, beadboard and built in cabinetry highlight the charming decor. The huge walk-in closet on the second floor has the potential to be a 4th bedroom or office, and the partially finished basement adds to the living area. Off street parking, walk to transportation, -MUST SEE! * * * One Year AHS Home Warranty Included * * *

11. 2002-02-27
    historical
12. 2002-02-27
    listed $69,900
13. 2002-02-19
    historical
14. 2001-02-20
    listed $69,900
15. 1997-11-01
    historical
16. 1997-04-23
    listed $67,900

ⓘ 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: $3,468 · $289/mo
• Projected year-2 tax: $3,468 · $289/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 7/10 Severe 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: $25,433
• − Mortgage interest: −$10,643
• − Property taxes: −$3,468
• − Insurance: −$950
• − Repairs & maintenance: −$2,035
• − Management: −$2,035
• − Depreciation: −$5,527
• Taxable income: $775
• Est. tax owed @ 24.0%: −$186
• After-tax cash flow: $3,531/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

+179.8% since first listed

16 events — show timeline

• 2026-04-29 Pending — BRIGHT MLS
• 2026-04-27 Listing Removed — BRIGHT MLS
• 2026-03-25 Listed $190,000 BRIGHT MLS
• 2026-03-24 Coming Soon $190,000 BRIGHT MLS
• 2017-01-10 Listing Removed — BRIGHT MLS
• 2016-09-13 Listed $75,000 BRIGHT MLS
• 2007-04-04 Sold (Public Records) $104,000 Public Records
• 2007-03-28 Sold (MLS) $104,000 BRIGHT MLS
• 2007-01-11 Listing Removed — BRIGHT MLS
• 2007-01-11 Listed $104,000 BRIGHT MLS
• 2002-02-27 Listed $69,900 BRIGHT MLS
• 2002-02-27 Listing Removed — BRIGHT MLS
• 2002-02-19 Listing Removed — BRIGHT MLS
• 2001-02-20 Listed $69,900 BRIGHT MLS
• 1997-11-01 Listing Removed — BRIGHT MLS
• 1997-04-23 Listed $67,900 BRIGHT MLS

Property tax history

+2.6%/yr

Latest (2026): $3,468 · +2.3% YoY. Source: county tax records.