1028 Lafayette St · Norristown, PA 19401

$125,000

3 bd · 1.0 ba · 1,260 sqft · SingleFamily public records · 3 Days on market

Built 1920 1,742 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
• 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

Investor alert! This is a solid home and has a newer heater so no need to worry about that!

Key facts

• Newer heater
• Built 1920
• Listed 3 days

Tags

• NEWER HEATER

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $617 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Cap rate 12.2% 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; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $864 of loan paydown is wiped out by about $4k 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 $35k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1920 — 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 $125,000

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.69% ✓
• Cap rate: 12.22%
• Cash-on-cash: 21.16%
• DSCR: 1.94
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $320,040
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
41 Centre Ave	0.45mi	3/2.0	1,350 (+7%)	4mo	$289,900	$215	60
905 W Airy St Unit 905	0.20mi	3/2.0	1,344 (+7%)	22mo	$169,900	$126	57
89 Centre	0.50mi	3/1.5	1,120 (-11%)	5mo	$352,000	$314	52
1323 W Oak St	0.54mi	3/1.5	1,124 (-11%)	18mo	$285,000	$254	40

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: 11.5%
• Equity multiple: 1.45×
• Total profit: $15,611
• Equity at exit: $18,638

10-year hold

• IRR: 19.0%
• Equity multiple: 2.45×
• Total profit: $50,606
• Equity at exit: $10,808

Cash invested: $35,000 (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: 4.9×

Monthly cashflow live

• Estimated rent: $2,117 high
• Mortgage (P&I): −$656
• Tax from tax record: −$348 /mo · $4,172/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $617

Break-even live

Break-even rent $1,336

Max offer price $125,000

Occupancy floor 66%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1115 W Main St Unit 2 Norristown, PA	3.0	1.5	1050	$2,010	$1.91	44d	1	0.12mi
502 Buttonwood St Norristown, PA	3.0	1.0	1330	$2,100	$1.58	24d	1	0.18mi
124 Knox St Norristown, PA	3.0	1.0	1170	$2,043	$1.75	18d	1	0.21mi
542 Stanbridge St #1 Norristown, PA	3.0	1.0	1400	$2,200	$1.57	24d	1	0.29mi
206 Chain St Norristown, PA	3.0	1.0	1440	$2,200	$1.53	44d	1	0.43mi
119 Pearl St Unit 1 Norristown, PA	3.0	1.5	1428	$1,750	$1.23	18d	1	0.46mi
119 Pearl St Norristown, PA	3.0	2.0	1428	$1,750	$1.23	18d	1	0.46mi
712 George St Unit 2 Norristown, PA	4.0	1.0	1485	$2,500	$1.68	44d	1	0.61mi
134 W Airy St Norristown, PA	4.0	1.0	1116	$3,036	$2.72	44d	1	0.75mi
421 Wendover Dr Eagleville, PA	2.0	1.0	903	$1,940	$2.15	5d	1	0.75mi
1 Meadow Ln Jeffersonville, PA	2.0	1.0	975	$1,847	$1.89	11d	1	0.78mi
1 Meadow Ln Jeffersonville, PA	2.0	1.0	975	$1,597	$1.64	44d	1	0.78mi
515 Cherry St Norristown, PA	3.0	3.0	1100	$1,995	$1.81	24d	1	0.79mi
126 W Elm St Norristown, PA	4.0	1.5	1500	$2,000	$1.33	15d	1	0.87mi
1029 Northridge Dr Unit 82B Norristown, PA	2.0	1.0	903	$1,950	$2.16	44d	1	0.90mi
534 Green St Norristown, PA	4.0	1.0	1612	$1,800	$1.12	22d	1	1.07mi
1331 Astor St Unit 2 Norristown, PA	2.0	1.0	1720	$1,900	$1.10	5d	1	1.10mi
200 Ross Rd King of Prussia, PA	1.0–2.0	1.0	950	$1,750	$1.84	44d	1	1.11mi
117 Hamlet Dr King of Prussia, PA	3.0	2.5	1440	$3,000	$2.08	1d	1	1.14mi
250 E Chestnut St Norristown, PA	3.0	1.0	1216	$2,724	$2.24	44d	1	1.16mi
158 Woodstream Dr Unit 158 Norristown, PA	3.0	2.0	1450	$1,975	$1.36	17d	1	1.17mi
244 Minor St Norristown, PA	2.0	1.0	1098	$1,700	$1.55	44d	1	1.18mi
24 W Front St Bridgeport, PA	3.0	1.5	1136	$2,100	$1.85	18d	1	1.25mi
18 Westover Club Dr Norristown, PA	3.0	1.0–2.0	911	$2,300	$2.52	1d	19	1.28mi
106 W 5th St Bridgeport, PA	4.0	1.5	1662	$2,850	$1.71	24d	1	1.29mi
613 Walnut St Norristown, PA	3.0	1.0	1526	$1,925	$1.26	5d	1	1.30mi
1201 Arch St Unit 2nd Floor Norristown, PA	2.0	1.0	1200	$1,725	$1.44	24d	1	1.31mi
54 Jefferson Ave West Norriton, PA	2.0	1.0	952	$1,950	$2.05	24d	1	1.32mi
224 Lilac St King of Prussia, PA	3.0	2.5	1806	$3,950	$2.19	5d	1	1.33mi
221 E Wood St Norristown, PA	4.0	1.0	1527	$2,277	$1.49	44d	1	1.33mi
211 E Poplar St Norristown, PA	3.0	1.5	1414	$2,350	$1.66	44d	1	1.36mi
535 Sandy St Norristown, PA	2.0	2.0	1476	$1,699	$1.15	20d	1	1.48mi
1535 Willow St Norristown, PA	3.0	1.0	1186	$2,450	$2.07	18d	1	1.48mi
3 Ford St Unit B Bridgeport, PA	2.0	2.5	1292	$2,550	$1.97	22d	1	1.49mi

Listing history 2 events

1. 2026-02-20
   status Pending
2. 2026-02-17
   listed $125,000 Active

ⓘ 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: $4,172 · $348/mo
• Projected year-2 tax: $4,172 · $348/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 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,401
• − Mortgage interest: −$7,002
• − Property taxes: −$4,172
• − Insurance: −$625
• − Repairs & maintenance: −$2,032
• − Management: −$2,032
• − Depreciation: −$3,636
• Taxable income: $5,902
• Est. tax owed @ 24.0%: −$1,417
• After-tax cash flow: $5,988/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

2 events — show timeline

• 2026-02-20 Pending — BRIGHT MLS
• 2026-02-17 Listed $125,000 BRIGHT MLS

Property tax history

+2.6%/yr

Latest (2026): $4,172 · +2.3% YoY. Source: county tax records.