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816 W Elm Street

NORRISTOWN, PA 19401
  • $220,000
  • STATUS: Active
  • ON SITE: 20 Days
  • ID#: PAMC2035360
Open House
UPDATED: 43 min ago
$220,000
  • 0
    BEDS
  • 0.03
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 1,590
    SQFT
  • $138
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1903
County:

School Information

High School:
School District:

Description

Duplex investment property for sale! Positive cash flow row-home in the west end of town. Purchase and run it as is, or make improvements for possible higher rents. Check the numbers below for investor information and details on a 8% cap rate. Current long-term property owner is retiring. Large 1BR on the first floor with full kitchen, full bath, access to fenced-in backyard, and basement for storage with tall ceilings. The living room has lots of natural light. Fully carpeted and very cozy. First floor rents for $850 per month with 6 months remaining on the lease. Upstairs is a 3BR on the second and third levels with another full bath. Full eat in kitchen and separate living room on the second floor. Upstairs rent is $1,200 per month. Tenants are month-to-month with no long term lease, and the potential for higher rents. This home is located in a prime location on the west end of town, it is within walking distance to the train station, local shopping stores, parks, and local eateries. It is only a few minutes drive to major highways and even more shopping and entertainment in King of Prussia. This is a great investment opportunity. Licensed duplex was inspected and approved by Norristown Code last year. Annual Rents are currently $24,600Expenses are $7,100 Net Income is $17,500 based on current rents. Here are the detailed expenses:$4,500 Real Estate taxes and Trash$635 Insurance$945 Water & Sewer$150 Borough License Fee$870 Pest Control, Snow removal, annual Heater maint. etc.

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©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or John Kriza Real Estate Team | Beiler-Campbell Realtors. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-05-19T12:55:26.067.
www.johnkrizateam.com/homes/128160844
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816 W Elm Street NORRISTOWN, PA 19401

  • Price: $220,000
  • Status: Active
  • On Site: 20 Days
  • Updated: 43 min ago
  • ID#: PAMC2035360
0
Beds
0
Baths
0
½ Baths
0.03
Acres
1,590
SQFT
$138
$/SQFT
1903
Built
Neighborhood:
Norristown Boro (10613)
County:
Montgomery
Area:
Norristown Boro (10613)
High School:
Norristown Area
School District:
Norristown Area
Property Description
Duplex investment property for sale! Positive cash flow row-home in the west end of town. Purchase and run it as is, or make improvements for possible higher rents. Check the numbers below for investor information and details on a 8% cap rate. Current long-term property owner is retiring. Large 1BR on the first floor with full kitchen, full bath, access to fenced-in backyard, and basement for storage with tall ceilings. The living room has lots of natural light. Fully carpeted and very cozy. First floor rents for $850 per month with 6 months remaining on the lease. Upstairs is a 3BR on the second and third levels with another full bath. Full eat in kitchen and separate living room on the second floor. Upstairs rent is $1,200 per month. Tenants are month-to-month with no long term lease, and the potential for higher rents. This home is located in a prime location on the west end of town, it is within walking distance to the train station, local shopping stores, parks, and local eateries. It is only a few minutes drive to major highways and even more shopping and entertainment in King of Prussia. This is a great investment opportunity. Licensed duplex was inspected and approved by Norristown Code last year. Annual Rents are currently $24,600Expenses are $7,100 Net Income is $17,500 based on current rents. Here are the detailed expenses:$4,500 Real Estate taxes and Trash$635 Insurance$945 Water & Sewer$150 Borough License Fee$870 Pest Control, Snow removal, annual Heater maint. etc.
Exterior Features

Architectural Style ColonialTraditional Construction Materials BrickMasonry Exterior Features SidewalksStreet Lights Garage YN No Location Type Urban Lot Features LevelRear Yard Other Structures Above Grade Parking Types On Street Patio And Porch Features Deck(S)Porch(Es) Pool No Pool Riparian Rights YN No Roof PitchedShingle View Street Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Above Grade Fin SQFT 1590 Basement FullUnfinished Basement YN Yes Below Grade Unfinished Area 500 Cooling Ceiling Fan(S) Fireplace YN No Fireplaces Total 0 Flooring WoodFully CarpetedVinyl Heating Radiant Heating YN Yes Interior Features 2nd KitchenBuilt-InsCarpetCeiling Fan(S)Floor Plan - OpenWood Floors Rooms Total 7 Security Features Smoke DetectorCarbon Monoxide Detector(S) Single Room Units 1 Three Bedroom Units 1 Two Bedroom Units 0

Property Features

Acceptable Financing ConventionalVaFha 203(B)CashFha Accessibility Features None Assessment Year 2022 Central Air YN No Cooling Fuel Electric Electric Circuit Breakers Foundation Details Stone Heating Fuel Oil Hot Water Electric Insurance Expense 635.00 Maintenance Expense 180.00 Municipality Norristown Boro Navigable Water YN N New Construction YN No Number Of Units Leased 2 Number Of Units Total 2 Number Of Units Vacant 0 Original MLSNumber 801493726420 Other Expense 870.00 Owner Pays WaterTrash CollectionSewerInsuranceRepairsPest ControlTaxes - Real Estate Ownership Interest Fee Simple Possession 0-30 Days CdSettlement Property Sub Type Duplex Sale Type Standard Sewer Public Sewer Structure Design Type Interior Row/Townhouse Tax Annual Amount 3761.00 Tax Assessment Amount 63200.00 Tax Lot 76 Total Actual Rent 24600.00 Transportation Airport Less Than 10 MilesBus Stop Less Than 1 MileCommuter Lots Less Than 5 MilesCommuter Rail Station Less Than 1 Mile Trash Expense 0.00 Vacation Rental YN No Water Source Public Zoning R2

Listing courtesy of Springer Realty Group.


©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or John Kriza Real Estate Team | Beiler-Campbell Realtors. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-05-19T12:55:26.067.
 
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