Two-Bedroom Residential Income
For Sale
$200,000
1035 NORTHRIDGE DRIVE Unit 85-B, Norristown, PA 19403
Open living and dining areas accompany a galley kitchen, in-unit laundry, and balcony access on both sides.
Property Size882 SF
Days on Market69
Property Features for 1035 NORTHRIDGE DRIVE Unit 85-B
General Information
Standard status
Active
Size
882 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,647
Building Details
Building Size
882 SF
Year Built
1988
Listing Agency:
BHHS Fox & Roach Wayne-Devon
Listed By:
Betty Angelucci · License #RS306106
(610) 675-5518
Source:
Lizclarkrealestate
Added: Aug 7
Changed: Oct 12
Last Checked: Oct 13 at 3:45AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BHHS Fox & Roach Wayne-Devon
Investment Insights
Based on property information with market context.
This condominium at 1035 Northridge Drive, Unit 85-B, features two bedrooms, one full bathroom, and an open arrangement for the living and dining areas. The galley kitchen includes a gas range, dishwasher, and refrigerator. Sliding doors from the living room and primary bedroom open to separate front and rear balconies, with the rear balcony facing green space. Both bedrooms include closet storage, while the hallway provides a large linen closet and the utility closet contains the water heater and HVAC system.
Replacement windows and sliding doors are installed throughout the unit. Community parking is located close to the residence, and the community permits up to two pets. In-unit laundry is also included. The condominium was built in 1988, and a one-year American Home Shield warranty is offered with the purchase, including coverage for the HVAC system and additional items.
Replacement windows and sliding doors are installed throughout the unit. Community parking is located close to the residence, and the community permits up to two pets. In-unit laundry is also included. The condominium was built in 1988, and a one-year American Home Shield warranty is offered with the purchase, including coverage for the HVAC system and additional items.
Key Highlights
- Two‑bedroom, one‑bath condominium at 1035 Northridge Drive, Unit 85‑B
- Front and rear balconies accessed from the living room and primary bedroom
- Galley kitchen with gas range, dishwasher, and refrigerator
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,916
Cap Rate
5.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$238,320
$238.3K
Cap Rate 7%
$170,229
$170.2K
Cap Rate 9%
$132,400
$132.4K
Market Conditions
NOI Build-Up for 882 SF
Gross rent
$23.1K $26.16/SF
− Vacancy
−$1.4K −$1.60/SF
EGI
$21.7K $24.56/SF
− OpEx
−$9.7K −$11.05/SF
NOI
$11.9K $13.51/SF
Area
Montgomery County, PA
Vacancy
6.10%
Lease Rate
$26.16 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$238,320
Cap Rate 7%
$170,229
Cap Rate 9%
$132,400
Alternative Uses
Best Use
Apartment 5plus
$170.2K
$149.0K – $198.6K
NOI $11,916 @ 7.0% cap · market cap 5.96%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$507.3K
$443.9K – $591.9K
NOI $35,514 @ 7.0% cap · market cap 17.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
169
Businesses Nearby
Explore this area
Business Placement
Demographics for 19403, PA
43,734
Population
19,720
Households
2.2
Avg Household Size
45
Median Age
48%
College-Educated
96%
High-School Grad
22.4 sq mi
ZIP Area
1,952
Density / Sq Mi
$101,996
Median Household Income
$59,809
Median Earnings
$1,640
Median Rent
$355,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Open living and dining areas accompany a galley kitchen, in-unit laundry, and balcony access on both sides.
Where is this residential income property located?
The property is located at 1035 NORTHRIDGE DRIVE Unit 85-B Norristown, PA.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Two‑bedroom, one‑bath condominium at 1035 Northridge Drive, Unit 85‑B; Front and rear balconies accessed from the living room and primary bedroom; Galley kitchen with gas range, dishwasher, and refrigerator
