new - 2 days on rocket

515 Cherry St, Norristown, PA, 19401

$395,000

Home List Price

$4,691*

Closing Credit

0 Baths
2,664 SqFt
$148/SqFt
Multi

Location

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515 Cherry St, Norristown$395,000

Buyer Closing Credits

$4,691*

1.25% Loan Amount

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Contact Us Phone Number1 (855) 200-2001

Property Highlights

Home TypeTriplex
ParkingAsphalt Driveway, Alley, Parking Lot
Year Built1900
HeatingBaseboard
CoolingWindow Unit(s)
BasementYes
MLS #PAMC2126102
Lot Size0.08 Acres
StatusActive
(ACTIVE)

About 515 Cherry St

Check out this solid, fully occupied triplex on Cherry street in Norristown! Set up with two 1 bedroom 1 bath units, one 3 bedroom 3 bath unit. Annual taxes under 4k per year. The units have been refreshed and remodeled in 2021. Current rents for the building are $3795 per month ($43,620 annually). Professional property management is in place. Tenants pay their own utilities and a flat monthly fee for water. The building includes 3 car off street parking in the rear alleyway parking lot. All 3 water heaters were recently replaced in the fall of 2024. In unit heat is electric so tenants can control their own heat and pay their own bill! The building is located across a short walk to the Montgomery County courthouse and Norristown Transportation Center and convenient access to all commuter routes 202, 76, 422 and 476. Buyer is responsible for U&O. Schedule your tour of this great investment opportunity!

Property Details

Property Features

Property Information:

  • Architectural Style: Colonial
  • Year Built: 1900
  • Living Area: 2,664 SqFt

Listing Office:

  • Office Name: Keller Williams Real Estate - Media
  • Office Phone: (610) 565-1995
  • Listing Agent: John Knisely

Interior Features

Interior Information:

  • Basement: Yes

Exterior Features

Parking Information:

  • Parking: Asphalt Driveway, Alley, Parking Lot

Lot Features

Lot Information:

  • Lot Size: 0.08 Acres

Utilities

Utilities Information:

  • Heating: Baseboard
  • Cooling: Window Unit(s)

Other

Directions Information:

  • Directions: Use GPS.

Municipality:

  • Norristown Boro

Price Information

Listing Price Info

Price Summary:

  • List Price: $395,000
  • Price Per SqFt: $148/SqFt

Tax Information:

  • Annual Amount: $3,354
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Norristown, PA.

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Norristown, PA

City

Med. Sold Price

$337.6K

Med. Price/SqFt

$205

Avg. Days On Market

27

# of Sold Homes

45

515 Cherry St vs Norristown

2 DAYS ON ROCKET

-25 Days

$395,000

+$57.3K More

$148/SqFt

-$58 Less

KEY TAKEAWAY

This property is $57.3K more than the Median Sold Price and $58/SqFt less than other homes in Norristown, PA.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: BRIGHT
  • MLS Number: #PAMC2126102

Listing Office:

  • Office Name: Keller Williams Real Estate - Media
  • Office Phone: (610) 565-1995
  • Listing Agent: John Knisely

IDX Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.

The information provided by this website is for the personal, non-commercial use of consumers 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 on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. 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. This home sale information is not to be construed as an appraisal and may not be used as such for any purpose.

BRIGHT MLS is the (or a) provider of this home sale information and has compiled content from various sources. Some properties represented may not have actually sold due to reporting errors. ©2025 BrightMLS. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/5/2025, 2:20:56 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Mar 18, 2021Home Sold
$165,000
Jun 04, 2007Home Sold
$165,000
Oct 24, 1997Home Sold
$40,000

Tax History

YEARPROP. TAXASSESSMENT
2021$3,354$57,620
2020$3,255$57,620
2019$3,196$57,620
2018$3,136$57,620
2017$2,935$57,620

History based on county public records data.

Payment Calculator

$2,039

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$1,251

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-416429
5
/10

  • Gotwals Elementary School

  • 1 E Oak St

  • 0.24 miles

  • Public District Grades 1-4

school-card-donut-416430
5
/10

  • Winfield Scott Hancock Elementary School

  • Arch & Summit Streets

  • 0.94 miles

  • Public District Grades 1-4

school-card-donut-416431
6
/10

  • Bridgeport Elementary School

  • 900 Bush and School Lane

  • 1.17 miles

  • Public District Grades KG-4

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $40,233. Residents of Norristown, PA typically earn between $35k-100k each year. Residents typically live in single, no kids family. Most residents in this area have high school diploma education.

All data provided by Home Junction and Claritas

Rocket Homes›Pennsylvania›Montgomery County›Norristown›19401›515 Cherry St

This home is located at 515 Cherry St in Norristown, PA and zip code 19401. This 2,664 square foot home, which was built in 1900, sits on a 0.08 acre lot. It has been listed on Rocket Homes since January 02, 2025 and is currently priced at $395,000.

In December 2024 more than 18 listings in Norristown, PA were sold above the asking price. During the same period more than 6 listings were sold at asking price, while more than 21 were sold below. Between November 2024 and December 2024, Norristown, PA real estate market has seen decrease in the number of listings by 10.4%. While the average time on the market in December 2024 was 27 days, the median list price was $337,667.

From Rocket Homes Real Estate and based on county public records data.

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