665 Corson St · Norristown, PA 19401

$195,000

4 bd · 1.5 ba · 1,888 sqft · SingleFamily public records · 34 Days on market

Built 1890 2,300 sqft lot Est $217k · 10% 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 +25.7/30.0
• ARV discount +12.1/15.0
• DSCR +8.6/10.0
• 1% rule +6.9/10.0
• 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

Attention investors and first-time buyers! Don’t miss this excellent opportunity to own a spacious twin brick home in the rapidly growing Norristown market. This 4-bedroom property with convenient side access offers great potential for both owner-occupants and investors alike. Inside, you’ll find wood flooring, a large and bright combined living and dining area, and a functional eat-in kitchen with a rear mudroom—providing flexible space ready for your vision or continued rental use. Key features include updated electrical, replacement windows, a fenced rear yard, off-street parking, and a detached 2-car garage with electric—an exceptional bonus for added value and t

Key facts

• Garage
• Built 1890
• Listed 34 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $467 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Recommended offer: $189k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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: 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: Norristown Area Hs (math 42% / reading 8%, grade F, #375 of 437 statewide, top 86%, 2,309 students, 83% FRL).
• Market conditions: Rents rising (+1.3%/yr); 164 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 40% 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 ($189k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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 $195k implies a 160% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — 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 $189,150 (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 1890 — 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: 1.19% ✓
• Cap rate: 9.16%
• Cash-on-cash: 10.26%
• DSCR: 1.46
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $217,120
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
620 George St	0.15mi	4/1.5	2,032 (+8%)	3mo	$275,000	$135	78
634 Kohn St	0.20mi	5/1.5 (+1)	1,920 (+2%)	17mo	$165,000	$86	69
1000 Cherry St	0.25mi	5/2.0 (+1)	1,943 (+3%)	12mo	$89,000	$46	66
732 Stanbridge St	0.35mi	4/1.0	2,011 (+6%)	11mo	$190,000	$94	62
118 W Fornance St	0.60mi	3/1.5 (-1)	1,874 (-1%)	19mo	$350,000	$187	50
318 E Marshall St	0.62mi	4/2.0	2,040 (+8%)	8mo	$235,000	$115	49
315 E Poplar St	0.72mi	4/1.0	1,856 (-2%)	20mo	$100,000	$54	45
404 W Fornance St Unit 2	0.60mi	4/2.0	1,610 (-15%)	23mo	$375,000	$233	26
1415 Markley St	0.65mi	3/1.5 (-1)	1,610 (-15%)	18mo	$319,900	$199	25

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: -2.9%
• Equity multiple: 0.89×
• Total profit: $-5,759
• Equity at exit: $29,075

10-year hold

• IRR: 4.8%
• Equity multiple: 1.33×
• Total profit: $17,870
• Equity at exit: $16,860

Cash invested: $54,600 (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: 7.0×

Monthly cashflow live

• Estimated rent: $2,323 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$264 /mo · $3,173/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$488
• Net cashflow: $467

Break-even live

Break-even rent $1,732

Max offer price $195,000

Occupancy floor 75%

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 20 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	43d	1	0.13mi
126 W Elm St Norristown, PA	4.0	1.5	1500	$2,000	$1.33	15d	1	0.18mi
540 George St Norristown, PA	5.0	2.0	2054	$2,595	$1.26	24d	1	0.25mi
542 Stanbridge St #1 Norristown, PA	3.0	1.0	1400	$2,200	$1.57	24d	1	0.41mi
206 Chain St Norristown, PA	3.0	1.0	1440	$2,200	$1.53	43d	1	0.41mi
119 Pearl St Norristown, PA	3.0	2.0	1428	$1,750	$1.23	18d	1	0.44mi
119 Pearl St Unit 1 Norristown, PA	3.0	1.5	1428	$1,750	$1.23	18d	1	0.44mi
534 Green St Norristown, PA	4.0	1.0	1612	$1,800	$1.12	21d	1	0.50mi
217 E Marshall St Norristown, PA	5.0	1.5	2142	$2,450	$1.14	4d	1	0.50mi
533 Buttonwood St Norristown, PA	5.0	2.0	1888	$2,300	$1.22	15d	1	0.58mi
502 Buttonwood St Norristown, PA	3.0	1.0	1330	$2,100	$1.58	24d	1	0.58mi
221 E Wood St Norristown, PA	4.0	1.0	1527	$2,277	$1.49	43d	1	0.64mi
211 E Poplar St Norristown, PA	3.0	1.5	1414	$2,350	$1.66	43d	1	0.67mi
613 Walnut St Norristown, PA	3.0	1.0	1526	$1,925	$1.26	5d	1	0.72mi
716 E Marshall St Apt 2 Norristown, PA	3.0	1.0	1920	$1,875	$0.98	43d	1	1.04mi
1809 Chain St Norristown, PA	4.0	2.0	1344	$2,800	$2.08	43d	1	1.11mi
106 W 5th St Bridgeport, PA	4.0	1.5	1662	$2,850	$1.71	24d	1	1.15mi
344 Grove St Bridgeport, PA	4.0	2.0	1484	$2,895	$1.95	43d	1	1.27mi
310 Prospect Ave Bridgeport, PA	4.0	2.5	1920	$3,100	$1.61	43d	1	1.33mi
436 Coates St Bridgeport, PA	3.0	2.5	1768	$2,500	$1.41	18d	1	1.47mi

Listing history 7 events

1. 2026-04-29
   status Pending
2. 2026-04-27
   historical
3. 2026-03-25
   listed $195,000 Active
4. 2026-03-24
   historical $195,000
5. 2017-01-10
   historical
6. 2016-09-13
   listed $89,000
7. 2009-07-14
   soldstatus $75,000

ⓘ 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: $3,173 · $264/mo
• Projected year-2 tax: $3,173 · $264/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: $27,872
• − Mortgage interest: −$10,923
• − Property taxes: −$3,173
• − Insurance: −$975
• − Repairs & maintenance: −$2,230
• − Management: −$2,230
• − Depreciation: −$5,673
• Taxable income: $2,669
• Est. tax owed @ 24.0%: −$641
• After-tax cash flow: $4,959/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

+160.0% since first listed

7 events — show timeline

• 2026-04-29 Pending — BRIGHT MLS
• 2026-04-27 Listing Removed — BRIGHT MLS
• 2026-03-25 Listed $195,000 BRIGHT MLS
• 2026-03-24 Coming Soon $195,000 BRIGHT MLS
• 2017-01-10 Listing Removed — BRIGHT MLS
• 2016-09-13 Listed $89,000 BRIGHT MLS
• 2009-07-14 Sold (Public Records) $75,000 Public Records

Property tax history

+2.6%/yr

Latest (2026): $3,173 · +2.3% YoY. Source: county tax records.