610 E Main St · Norristown, PA 19401

$229,900

4 bd · 1.0 ba · 1,215 sqft · Townhouse public records · 11 Days on market

Built 1920 1,417 sqft lot Est $197k · 17% over

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Why this score? — see what drove the D 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 +20.4/30.0
• DSCR +6.5/10.0
• 1% rule +5.3/10.0
• Livability +4.2/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Clean as a whistle and well maintained!! Roof, heater and hot water heater are newer. Spacious eat in kitchen with door to covered patio, basement has sink and stove and door to yard. Third floor has two bedrooms one is unheated. Some furniture to remain if buyer wants it. * * * This home is priced to sell in as is condition * * *

Key facts

• Close to dining
• Convenient location
• Close to shopping

Tags

• INTERIOR ROW HOME
• SPACIOUS LAYOUT
• CONVENIENT LOCATION
• CLOSE TO SHOPPING
• CLOSE TO DINING
• CLOSE TO PUBLIC TRANSPORTATION

Property features AI

Finance

• Other: Ground rent payable annually

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Electric available; Natural gas available; Sewer available; Water available
• Home design: Interior townhouse/rowhouse; Fee simple ownership
• Construction: Brick construction; Stone foundation; Above-grade and below-grade structures; Year built per assessor
• Exterior features: Not in a federal flood zone; Municipal trash service; Pets allowed with no restrictions

Interior

• Bedrooms: Five bedrooms on the first upper level
• Bathrooms: One full bathroom (total)
• Heating & cooling: Baseboard hot water heating; Natural gas heat; Electric hot water
• Interior features: Estimated living area; Walkout, unfinished basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath townhouse listed at $230k.

Deal economics

• At list price, monthly cash flow is $297 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $230k).
• Cap rate 7.8% 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; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,936 units permitted in Montgomery County in 2024 (530 in 5+ unit buildings).
• This rent runs 41% 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 $2k of loan paydown is wiped out by about $7k 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

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 18y 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 $75k; list at $230k implies a 207% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $229,900

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. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.03% ✓
• Cap rate: 7.85%
• Cash-on-cash: 5.54%
• DSCR: 1.25
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $196,830
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
503 E Airy St	0.21mi	3/2.0 (-1)	1,330 (+10%)	1mo	$215,000	$162	65
145 Jefferson St	0.51mi	3/2.5 (-1)	1,222 (+1%)	2mo	$301,000	$246	63
505 E Airy St	0.20mi	3/2.0 (-1)	1,330 (+10%)	4mo	$175,000	$132	62
507 E Airy St	0.20mi	3/2.0 (-1)	1,330 (+10%)	4mo	$175,000	$132	62
509 E Airy St	0.20mi	3/2.0 (-1)	1,330 (+10%)	4mo	$175,000	$132	62
125 W 2nd St	0.64mi	3/1.5 (-1)	1,229 (+1%)	1mo	$160,000	$130	60
1006 Walnut St	0.55mi	3/1.5 (-1)	1,152 (-5%)	6mo	$175,000	$152	54
1413 Green Valley Rd	0.75mi	3/2.0 (-1)	1,216 (+0%)	3mo	$245,000	$201	54
432 E Basin St	0.60mi	3/2.0 (-1)	1,152 (-5%)	4mo	$236,400	$205	51
219 E Basin St	0.73mi	3/1.0 (-1)	1,285 (+6%)	2mo	$165,000	$128	50
729 E Oak St	0.38mi	3/2.5 (-1)	1,376 (+13%)	1mo	$380,000	$276	49
39 W Front St	0.55mi	3/1.5 (-1)	1,320 (+9%)	6mo	$255,000	$193	48

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: -9.6%
• Equity multiple: 0.65×
• Total profit: $-22,305
• Equity at exit: $34,279

10-year hold

• IRR: -2.7%
• Equity multiple: 0.83×
• Total profit: $-10,858
• Equity at exit: $19,878

Cash invested: $64,372 (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: 8.1×

Monthly cashflow live

• Estimated rent: $2,378 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$280 /mo · $3,361/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$499
• Net cashflow: $297

Break-even live

Break-even rent $2,002

Max offer price $229,900

Occupancy floor 82%

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
344 Grove St Bridgeport, PA	4.0	2.0	1484	$2,895	$1.95	44d	1	0.43mi
250 E Chestnut St Norristown, PA	3.0	1.0	1216	$2,724	$2.24	44d	1	0.50mi
56 Stewart St Unit 2 Bridgeport, PA	3.0	2.0	1500	$2,100	$1.40	24d	1	0.50mi
24 W Front St Bridgeport, PA	3.0	1.5	1136	$2,100	$1.85	18d	1	0.54mi
515 Cherry St Norristown, PA	3.0	3.0	1100	$1,995	$1.81	24d	1	0.78mi
134 W Airy St Norristown, PA	4.0	1.0	1116	$3,036	$2.72	44d	1	0.81mi
211 E Poplar St Norristown, PA	3.0	1.5	1414	$2,350	$1.66	44d	1	0.81mi
126 W Elm St Norristown, PA	4.0	1.5	1500	$2,000	$1.33	15d	1	0.93mi
119 Pearl St Norristown, PA	3.0	2.0	1428	$1,750	$1.23	18d	1	1.08mi
119 Pearl St Unit 1 Norristown, PA	3.0	1.5	1428	$1,750	$1.23	18d	1	1.08mi
1535 Willow St Norristown, PA	3.0	1.0	1186	$2,450	$2.07	18d	1	1.09mi
206 Chain St Norristown, PA	3.0	1.0	1440	$2,200	$1.53	44d	1	1.11mi
712 George St Unit 2 Norristown, PA	4.0	1.0	1485	$2,500	$1.68	44d	1	1.15mi
124 Knox St Norristown, PA	3.0	1.0	1170	$2,043	$1.75	18d	1	1.34mi
542 Stanbridge St #1 Norristown, PA	3.0	1.0	1400	$2,200	$1.57	24d	1	1.35mi

Listing history 10 events

1. 2026-06-18
   days on market $229,900 Active 11 DOM
2. 2026-06-17
   days on market $229,900 Active 10 DOM
3. 2026-06-16
   days on market $229,900 Active 9 DOM
4. 2026-06-15
   days on market $229,900 Active 8 DOM
5. 2026-06-13
   days on market $229,900 Active 6 DOM
6. 2026-06-13
   remarks 557-char remark
7. 2026-06-13
   days on market $229,900 Active 5 DOM
8. 2026-06-09
   days on market $229,900 Active 2 DOM
9. 2026-06-08
   remarks 534-char remark
10. 2026-06-08
    listed $229,900 Active 1 DOM

ⓘ 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: $3,361 · $280/mo
• Projected year-2 tax: $3,497 · $291/mo
• Expected delta: +$136/yr (+$11/mo · 4.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 27% 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: $28,540
• − Mortgage interest: −$12,878
• − Property taxes: −$3,361
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,283
• − Management: −$2,283
• − Depreciation: −$6,688
• Taxable loss: −$103
• Est. tax savings @ 24.0%: +$25
• After-tax cash flow: $3,593/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

+187.7% since first listed

5 events — show timeline

• 2026-06-07 Listed $229,900 BRIGHT MLS
• 2008-06-19 Sold (Public Records) $75,000 Public Records
• 2008-06-16 Sold (MLS) $75,000 BRIGHT MLS
• 2008-05-20 Listing Removed — BRIGHT MLS
• 2008-05-15 Listed $79,900 BRIGHT MLS

Property tax history

+2.6%/yr

Latest (2026): $3,361 · +2.3% YoY. Source: county tax records.