1505 Astor St · Norristown, PA 19401

$199,000

3 bd · 1.5 ba · 1,664 sqft · Townhouse public records · 38 Days on market

Built 1924 1,664 sqft lot $120/sqft · 8% below area Est $217k · 8% under

---

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 +17.1/30.0
• ARV discount +11.2/15.0
• 1% rule +5.6/10.0
• DSCR +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
• Appreciation +0.0/10.0

Listing remarks MLS

This brick 3 bedroom row home close to Eisenhower Middle School and Elmwood Park Zoo has a finished basement with a powder room and an outside exit along with a deck off the kitchen. A patio under the deck, a fenced rear yard and a heater and chimney liner new in 2016 add to the value. The home is being sold as-is with the Buyer responsible for U & O. As you step inside, you're greeted by hardwood floors and a large open living room and dining room offering versatility for relaxation or entertainment. Venturing outdoors, a deck off the kitchen awaits, perfect for morning coffees or outside dining, while a patio tucked beneath it invites you to unwind amidst the tranquility of the fenced rear yard, providing privacy and security for cherished moments with loved ones. With its blend of convenience, comfort, and potential, this home presents an enticing opportunity for those seeking a harmonious blend of suburban living and modern amenities. Please note this home is tenant occupied, Cat on premises

Key facts

• Deck off kitchen
• Finished basement
• Patio under deck

Tags

• FINISHED BASEMENT
• POWDER ROOM
• OUTSIDE EXIT
• DECK OFF KITCHEN
• PATIO UNDER DECK
• FENCED REAR YARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $199k.

Deal economics

• At list price, monthly cash flow is $137 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $193k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.1% 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; 29 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).
• 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 38 days — a 3% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 25y ago; this cycle's ask has dropped $30k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $82k; list at $199k implies a 144% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — 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 $193,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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 1924 — 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: 1.06% ✓
• Cap rate: 7.12%
• Cash-on-cash: 2.96%
• DSCR: 1.13
• GRM: 7.9

CMA / ARV

• ARV (median comp): $216,787
• List price: $199,000
• Delta: -8.20%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1505 Dekalb St #106	0.50mi	3/2.5	1,692 (+2%)	0mo	$385,000	$228	70
1423 Locust St	0.31mi	3/1.0	1,502 (-10%)	1mo	$285,000	$190	67
1120 Swede St	0.44mi	4/1.5 (+1)	1,758 (+6%)	1mo	$289,900	$165	64
1608 Eva #26	0.19mi	2/2.0 (-1)	1,894 (+14%)	1mo	$364,900	$193	60
1410 Arch St	0.67mi	3/1.5	1,580 (-5%)	2mo	$305,000	$193	59
29 E Freedley St	0.44mi	3/1.0	1,486 (-11%)	1mo	$235,000	$158	58
1445 Willow St	0.44mi	3/1.0	1,476 (-11%)	1mo	$220,000	$149	58
332 James St	0.43mi	4/2.0 (+1)	1,500 (-10%)	1mo	$285,000	$190	56
1809 Arch St Unit 20S	0.75mi	3/2.5	1,614 (-3%)	3mo	$386,000	$239	54
1040 Green St	0.67mi	4/1.0 (+1)	1,590 (-4%)	3mo	$175,000	$110	52
1807 Arch St Unit 21E	0.74mi	2/1.5 (-1)	1,544 (-7%)	3mo	$379,900	$246	46
121 Bradbury Dr Unit B	0.74mi	2/2.5 (-1)	1,529 (-8%)	1mo	$369,900	$242	42

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: -13.7%
• Equity multiple: 0.52×
• Total profit: $-26,940
• Equity at exit: $29,672

10-year hold

• IRR: -8.0%
• Equity multiple: 0.54×
• Total profit: $-25,825
• Equity at exit: $17,206

Cash invested: $55,720 (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: 7.9×

Monthly cashflow live

• Estimated rent: $2,108 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$402 /mo · $4,821/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$443
• Net cashflow: $137

Break-even live

Break-even rent $1,934

Max offer price $199,000

Occupancy floor 88%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1331 Astor St Unit 2 Norristown, PA	2.0	1.0	1720	$1,900	$1.10	5d	1	0.19mi
1809 Chain St Norristown, PA	4.0	2.0	1344	$2,800	$2.08	43d	1	0.39mi
1535 Willow St Norristown, PA	3.0	1.0	1186	$2,450	$2.07	17d	1	0.47mi
1005 Stanbridge St #1 Norristown, PA	2.0	1.0	1876	$1,850	$0.99	43d	1	0.51mi
126 W Elm St Norristown, PA	4.0	1.5	1500	$2,000	$1.33	14d	1	0.62mi
211 E Poplar St Norristown, PA	3.0	1.5	1414	$2,350	$1.66	43d	1	0.64mi
221 E Wood St Norristown, PA	4.0	1.0	1527	$2,277	$1.49	43d	1	0.67mi
712 George St Unit 2 Norristown, PA	4.0	1.0	1485	$2,500	$1.68	43d	1	0.71mi
1201 Arch St Unit 2nd Floor Norristown, PA	2.0	1.0	1200	$1,725	$1.44	24d	1	0.72mi
417 E Fornance St Norristown, PA	2.0	1.0	1408	$1,650	$1.17	5d	1	0.81mi
244 Minor St Norristown, PA	2.0	1.0	1098	$1,700	$1.55	43d	1	0.85mi
637 Hamilton St Norristown, PA	2.0	1.0	2020	$1,900	$0.94	21d	1	0.93mi
250 E Chestnut St Norristown, PA	3.0	1.0	1216	$2,724	$2.24	43d	1	0.95mi
515 Cherry St Norristown, PA	3.0	3.0	1100	$1,995	$1.81	24d	1	0.95mi
134 W Airy St Norristown, PA	4.0	1.0	1116	$3,036	$2.72	43d	1	0.98mi
534 Green St Norristown, PA	4.0	1.0	1612	$1,800	$1.12	21d	1	0.99mi
542 Stanbridge St #1 Norristown, PA	3.0	1.0	1400	$2,200	$1.57	24d	1	0.99mi
502 Buttonwood St Norristown, PA	3.0	1.0	1330	$2,100	$1.58	24d	1	1.10mi
613 Walnut St Norristown, PA	3.0	1.0	1526	$1,925	$1.26	5d	1	1.10mi
206 Chain St Norristown, PA	3.0	1.0	1440	$2,200	$1.53	43d	1	1.12mi
2803 Stanbridge St East Norriton, PA	1.0–2.0	1.0–2.0	1043	$2,050	$1.97	1d	20	1.13mi
119 Pearl St Norristown, PA	3.0	2.0	1428	$1,750	$1.23	18d	1	1.15mi
119 Pearl St Unit 1 Norristown, PA	3.0	1.5	1428	$1,750	$1.23	18d	1	1.15mi
1115 W Main St Unit 2 Norristown, PA	3.0	1.5	1050	$2,010	$1.91	43d	1	1.19mi
124 Knox St Norristown, PA	3.0	1.0	1170	$2,043	$1.75	17d	1	1.24mi
716 E Marshall St Apt 2 Norristown, PA	3.0	1.0	1920	$1,875	$0.98	43d	1	1.25mi
535 Sandy St Norristown, PA	2.0	2.0	1476	$1,699	$1.15	20d	1	1.25mi
2620 DeKalb Pike Norristown, PA	1.0–2.0	1.0–2.0	827	$1,897	$2.29	1d	6	1.33mi
214 Stonybrook Dr #214 West Norriton, PA	3.0	2.5	2219	$2,650	$1.19	10d	1	1.50mi

Listing history 30 events

1. 2026-06-18
   status $199,000 Pending 38 DOM
2. 2026-05-14
   historical Active Under Contract 1014-char remark

   Show marketing remark (1014 chars)

   This brick 3 bedroom row home close to Eisenhower Middle School and Elmwood Park Zoo has a finished basement with a powder room and an outside exit along with a deck off the kitchen. A patio under the deck, a fenced rear yard and a heater and chimney liner new in 2016 add to the value. The home is being sold as-is with the Buyer responsible for U & O. As you step inside, you're greeted by hardwood floors and a large open living room and dining room offering versatility for relaxation or entertainment. Venturing outdoors, a deck off the kitchen awaits, perfect for morning coffees or outside dining, while a patio tucked beneath it invites you to unwind amidst the tranquility of the fenced rear yard, providing privacy and security for cherished moments with loved ones. With its blend of convenience, comfort, and potential, this home presents an enticing opportunity for those seeking a harmonious blend of suburban living and modern amenities. Please note this home is tenant occupied, Cat on premises

3. 2026-04-28
   price $199,000 1014-char remark

   Show marketing remark (1014 chars)

   This brick 3 bedroom row home close to Eisenhower Middle School and Elmwood Park Zoo has a finished basement with a powder room and an outside exit along with a deck off the kitchen. A patio under the deck, a fenced rear yard and a heater and chimney liner new in 2016 add to the value. The home is being sold as-is with the Buyer responsible for U & O. As you step inside, you're greeted by hardwood floors and a large open living room and dining room offering versatility for relaxation or entertainment. Venturing outdoors, a deck off the kitchen awaits, perfect for morning coffees or outside dining, while a patio tucked beneath it invites you to unwind amidst the tranquility of the fenced rear yard, providing privacy and security for cherished moments with loved ones. With its blend of convenience, comfort, and potential, this home presents an enticing opportunity for those seeking a harmonious blend of suburban living and modern amenities. Please note this home is tenant occupied, Cat on premises

4. 2026-04-16
   price $209,900 1014-char remark

   Show marketing remark (1014 chars)

   This brick 3 bedroom row home close to Eisenhower Middle School and Elmwood Park Zoo has a finished basement with a powder room and an outside exit along with a deck off the kitchen. A patio under the deck, a fenced rear yard and a heater and chimney liner new in 2016 add to the value. The home is being sold as-is with the Buyer responsible for U & O. As you step inside, you're greeted by hardwood floors and a large open living room and dining room offering versatility for relaxation or entertainment. Venturing outdoors, a deck off the kitchen awaits, perfect for morning coffees or outside dining, while a patio tucked beneath it invites you to unwind amidst the tranquility of the fenced rear yard, providing privacy and security for cherished moments with loved ones. With its blend of convenience, comfort, and potential, this home presents an enticing opportunity for those seeking a harmonious blend of suburban living and modern amenities. Please note this home is tenant occupied, Cat on premises

5. 2026-04-06
   listed $229,000 Active 1014-char remark

   Show marketing remark (1014 chars)

   This brick 3 bedroom row home close to Eisenhower Middle School and Elmwood Park Zoo has a finished basement with a powder room and an outside exit along with a deck off the kitchen. A patio under the deck, a fenced rear yard and a heater and chimney liner new in 2016 add to the value. The home is being sold as-is with the Buyer responsible for U & O. As you step inside, you're greeted by hardwood floors and a large open living room and dining room offering versatility for relaxation or entertainment. Venturing outdoors, a deck off the kitchen awaits, perfect for morning coffees or outside dining, while a patio tucked beneath it invites you to unwind amidst the tranquility of the fenced rear yard, providing privacy and security for cherished moments with loved ones. With its blend of convenience, comfort, and potential, this home presents an enticing opportunity for those seeking a harmonious blend of suburban living and modern amenities. Please note this home is tenant occupied, Cat on premises

6. 2025-08-25
   historical
7. 2025-08-17
   price $219,999
8. 2025-06-12
   price $229,999
9. 2025-05-05
   listed $249,900 Active
10. 2024-03-19
    historical
11. 2024-03-03
    historical Active Under Contract
12. 2024-02-15
    listed $209,900 Active
13. 2010-12-17
    soldstatus $81,500
14. 2010-12-17
    soldstatus $81,500
15. 2010-11-12
    historical
16. 2010-11-08
    listed $89,900
17. 2010-11-08
    listed $89,900
18. 2010-05-06
    historical
19. 2009-11-02
    listed $149,900
20. 2008-11-13
    historical
21. 2008-03-01
    listed $175,000
22. 2003-08-19
    soldstatus $112,500
23. 2003-08-08
    soldstatus $112,500
24. 2003-05-27
    listed $112,500
25. 2003-05-27
    historical
26. 2002-10-16
    soldstatus $91,500
27. 2001-01-19
    historical
28. 2001-01-07
    listed $89,000
29. 1994-01-14
    soldstatus $83,000
30. 1991-06-03
    soldstatus $93,000

ⓘ 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: $4,821 · $402/mo
• Projected year-2 tax: $4,821 · $402/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: $25,300
• − Mortgage interest: −$11,147
• − Property taxes: −$4,821
• − Insurance: −$995
• − Repairs & maintenance: −$2,024
• − Management: −$2,024
• − Depreciation: −$5,789
• Taxable loss: −$1,500
• Est. tax savings @ 24.0%: +$360
• After-tax cash flow: $2,008/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

+114.0% since first listed

29 events — show timeline

• 2026-05-14 Contingent — BRIGHT MLS
• 2026-04-28 Price Changed $199,000 BRIGHT MLS
• 2026-04-16 Price Changed $209,900 BRIGHT MLS
• 2026-04-06 Listed $229,000 BRIGHT MLS
• 2025-08-25 Listing Removed — BRIGHT MLS
• 2025-08-17 Price Changed $219,999 BRIGHT MLS
• 2025-06-12 Price Changed $229,999 BRIGHT MLS
• 2025-05-05 Listed $249,900 BRIGHT MLS
• 2024-03-19 Listing Removed — BRIGHT MLS
• 2024-03-03 Contingent — BRIGHT MLS
• 2024-02-15 Listed $209,900 BRIGHT MLS
• 2010-12-17 Sold (MLS) $81,500 TREND
• 2010-12-17 Sold (MLS) $81,500 BRIGHT MLS
• 2010-11-12 Listing Removed — BRIGHT MLS
• 2010-11-08 Listed $89,900 TREND
• 2010-11-08 Listed $89,900 BRIGHT MLS
• 2010-05-06 Listing Removed — BRIGHT MLS
• 2009-11-02 Listed $149,900 BRIGHT MLS
• 2008-11-13 Listing Removed — BRIGHT MLS
• 2008-03-01 Listed $175,000 BRIGHT MLS
• 2003-08-19 Sold (Public Records) $112,500 Public Records
• 2003-08-08 Sold (MLS) $112,500 BRIGHT MLS
• 2003-05-27 Listing Removed — BRIGHT MLS
• 2003-05-27 Listed $112,500 BRIGHT MLS
• 2002-10-16 Sold (Public Records) $91,500 Public Records
• 2001-01-19 Listing Removed — BRIGHT MLS
• 2001-01-07 Listed $89,000 BRIGHT MLS
• 1994-01-14 Sold (Public Records) $83,000 Public Records
• 1991-06-03 Sold (Public Records) $93,000 Public Records

Property tax history

+2.6%/yr

Latest (2026): $4,821 · +2.3% YoY. Source: county tax records.