907 W Airy St · Norristown, PA 19401

$195,000

3 bd · 1.5 ba · 1,680 sqft · Townhouse public records · 242 Days on market

Built 1885 1,600 sqft lot $116/sqft · at area comps Est $192k · at est.

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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 +21.3/30.0
• DSCR +6.8/10.0
• ARV discount +6.8/15.0
• 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

Calling all investors on this one. Property is in need of TLC. Call to show.

Key facts

• Built 1885
• Listed 241 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $195k.

Deal economics

• At list price, monthly cash flow is $284 ($3k/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: $172k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 4.2% 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); 166 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 37% 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 242 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1885 — 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 $171,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 242 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1885 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 8.04%
• Cash-on-cash: 6.25%
• DSCR: 1.28
• GRM: 7.4

CMA / ARV

• ARV (median comp): $192,107
• List price: $195,000
• Delta: 1.51%
• 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
725 W Lafayette St	0.17mi	4/2.0 (+1)	1,770 (+5%)	5mo	$245,500	$139	72
218 Forrest Ave	0.42mi	4/1.0 (+1)	1,700 (+1%)	1mo	$234,900	$138	71
543 Corson St	0.42mi	4/1.0 (+1)	1,554 (-8%)	3mo	$175,000	$113	59
206 Chain St	0.32mi	3/1.0	1,440 (-14%)	4mo	$180,000	$125	56
150 Forrest Ave	0.44mi	3/1.0	1,469 (-13%)	2mo	$213,000	$145	55
32 Hartranft Ave	0.41mi	3/1.5	1,428 (-15%)	3mo	$275,000	$193	54
28 Hartranft Ave	0.41mi	3/1.0	1,428 (-15%)	1mo	$240,000	$168	53
1010 Buttonwood St	0.65mi	3/2.0	1,584 (-6%)	6mo	$302,000	$191	53
712 Selma St	0.47mi	3/1.5	1,440 (-14%)	2mo	$320,000	$222	53
709 Belair Cir	0.48mi	4/1.5 (+1)	1,482 (-12%)	2mo	$295,000	$199	51
1025 Cherry St	0.73mi	4/1.5 (+1)	1,614 (-4%)	6mo	$166,000	$103	50
332 James St	0.71mi	4/2.0 (+1)	1,500 (-11%)	1mo	$285,000	$190	41

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: -8.7%
• Equity multiple: 0.69×
• Total profit: $-17,102
• Equity at exit: $29,075

10-year hold

• IRR: -1.7%
• Equity multiple: 0.89×
• Total profit: $-5,863
• 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: 166
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,183 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$337 /mo · $4,038/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$458
• Net cashflow: $284

Break-even live

Break-even rent $1,823

Max offer price $195,000

Occupancy floor 82%

Sensitivity live

Price	-10% $395	-5% $339	+0% $284	+5% $229	+10% $174
Rent	-10% $112	-5% $198	+0% $284	+5% $370	+10% $457
Rate	-1.0pp $382	-0.5pp $334	base $284	+0.5pp $234	+1.0pp $182

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 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
542 Stanbridge St #1 Norristown, PA	3.0	1.0	1400	$2,200	$1.57	25d	1	0.06mi
502 Buttonwood St Norristown, PA	3.0	1.0	1330	$2,100	$1.58	25d	1	0.12mi
1115 W Main St Unit 2 Norristown, PA	3.0	1.5	1050	$2,010	$1.91	45d	1	0.21mi
124 Knox St Norristown, PA	3.0	1.0	1170	$2,043	$1.75	19d	1	0.23mi
206 Chain St Norristown, PA	3.0	1.0	1440	$2,200	$1.53	45d	1	0.32mi
637 Hamilton St Norristown, PA	2.0	1.0	2020	$1,900	$0.94	23d	1	0.34mi
119 Pearl St Unit 1 Norristown, PA	3.0	1.5	1428	$1,750	$1.23	19d	1	0.36mi
119 Pearl St Norristown, PA	3.0	2.0	1428	$1,750	$1.23	19d	1	0.36mi
712 George St Unit 2 Norristown, PA	4.0	1.0	1485	$2,500	$1.68	45d	1	0.39mi
134 W Airy St Norristown, PA	4.0	1.0	1116	$3,036	$2.72	45d	1	0.58mi
1005 Stanbridge St #1 Norristown, PA	2.0	1.0	1876	$1,850	$0.99	45d	1	0.59mi
515 Cherry St Norristown, PA	3.0	3.0	1100	$1,995	$1.81	25d	1	0.61mi
126 W Elm St Norristown, PA	4.0	1.5	1500	$2,000	$1.33	16d	1	0.66mi
1331 Astor St Unit 2 Norristown, PA	2.0	1.0	1720	$1,900	$1.10	6d	1	0.88mi
534 Green St Norristown, PA	4.0	1.0	1612	$1,800	$1.12	23d	1	0.89mi
250 E Chestnut St Norristown, PA	3.0	1.0	1216	$2,724	$2.24	45d	1	0.97mi
244 Minor St Norristown, PA	2.0	1.0	1098	$1,700	$1.55	45d	1	0.98mi
1201 Arch St Unit 2nd Floor Norristown, PA	2.0	1.0	1200	$1,725	$1.44	25d	1	1.10mi
221 E Wood St Norristown, PA	4.0	1.0	1527	$2,277	$1.49	45d	1	1.11mi
613 Walnut St Norristown, PA	3.0	1.0	1526	$1,925	$1.26	6d	1	1.13mi
211 E Poplar St Norristown, PA	3.0	1.5	1414	$2,350	$1.66	45d	1	1.15mi
24 W Front St Bridgeport, PA	3.0	1.5	1136	$2,100	$1.85	19d	1	1.16mi
200 Ross Rd King of Prussia, PA	1.0–2.0	1.0	950	$1,750	$1.84	45d	1	1.16mi
512 Dartmouth Dr King of Prussia, PA	3.0	2.5	2091	$3,000	$1.43	6d	1	1.23mi
106 W 5th St Bridgeport, PA	4.0	1.5	1662	$2,850	$1.71	25d	1	1.25mi
1535 Willow St Norristown, PA	3.0	1.0	1186	$2,450	$2.07	19d	1	1.26mi
172 Anderson Rd King of Prussia, PA	3.0	3.0	2107	$3,200	$1.52	45d	1	1.30mi
535 Sandy St Norristown, PA	2.0	2.0	1476	$1,699	$1.15	21d	1	1.31mi
669 N Henderson Rd King of Prussia, PA	4.0	2.5	2228	$3,500	$1.57	0d	1	1.32mi
417 E Fornance St Norristown, PA	2.0	1.0	1408	$1,650	$1.17	6d	1	1.32mi
117 Hamlet Dr King of Prussia, PA	3.0	2.5	1440	$3,000	$2.08	0d	1	1.37mi
158 Woodstream Dr Unit 158 Norristown, PA	3.0	2.0	1450	$1,975	$1.36	18d	1	1.37mi
3 Ford St Unit B Bridgeport, PA	2.0	2.5	1292	$2,550	$1.97	23d	1	1.39mi
224 Lilac St King of Prussia, PA	3.0	2.5	1806	$3,950	$2.19	6d	1	1.40mi
1809 Chain St Norristown, PA	4.0	2.0	1344	$2,800	$2.08	45d	1	1.42mi
357 Aspen Way King of Prussia, PA	3.0	2.5	2176	$4,500	$2.07	45d	1	1.42mi
716 E Marshall St Apt 2 Norristown, PA	3.0	1.0	1920	$1,875	$0.98	45d	1	1.48mi
18 Westover Club Dr Norristown, PA	3.0	1.0–2.0	911	$2,300	$2.52	0d	19	1.49mi

Listing history 16 events

1. 2026-06-21
   days on market $195,000 Active 242 DOM
2. 2026-06-18
   days on market $195,000 Active 239 DOM
3. 2026-06-17
   days on market $195,000 Active 238 DOM
4. 2026-06-16
   days on market $195,000 Active 237 DOM
5. 2026-06-15
   days on market $195,000 Active 236 DOM
6. 2026-06-13
   days on market $195,000 Active 234 DOM
7. 2026-06-13
   days on market $195,000 Active 233 DOM
8. 2026-06-09
   days on market $195,000 Active 230 DOM
9. 2026-06-08
   days on market $195,000 Active 229 DOM
10. 2026-06-07
    days on market $195,000 Active 228 DOM
11. 2026-06-04
    days on market $195,000 Active 225 DOM
12. 2026-06-03
    days on market $195,000 Active 224 DOM
13. 2026-06-02
    days on market $195,000 Active 223 DOM
14. 2026-06-01
    days on market $195,000 Active 222 DOM
15. 2026-05-31
    days on market $195,000 Active 221 DOM
16. 2025-10-22
    listed $206,000 Active 76-char remark

    Show marketing remark (76 chars)

    Calling all investors on this one. Property is in need of TLC. Call to show.

ⓘ 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: $4,038 · $337/mo
• Projected year-2 tax: $4,038 · $337/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: $26,196
• − Mortgage interest: −$10,923
• − Property taxes: −$4,038
• − Insurance: −$975
• − Repairs & maintenance: −$2,096
• − Management: −$2,096
• − Depreciation: −$5,673
• Taxable income: $395
• Est. tax owed @ 24.0%: −$95
• After-tax cash flow: $3,315/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

1 event — show timeline

• 2025-10-22 Listed $206,000 BRIGHT MLS

Property tax history

+2.6%/yr

Latest (2026): $4,038 · +2.3% YoY. Source: county tax records.