Refreshed Residential Income
For Sale
$259,000
307 STONY WAY Unit 307, Norristown, PA 19403
Three-bedroom condominium with updated finishes, in-unit laundry, and access to a community pool and playground.
Property Size1,420 SF
Days on Market49
Property Features for 307 STONY WAY Unit 307
General Information
Standard status
Active
Size
1,420 SF
Property subtype
Unit/Flat/Apartment
Taxes and HOA fees
Annual Taxes
$3,503
Amenities
swimming pool
playground
Building Details
Building Size
1,420 SF
Year Built
1971
Listing Agency:
HomeZu by Simple Choice
Listed By:
Christopher J Carr · License #RM420776
(855) 885-4663
Source:
Lizclarkrealestate
Added: Sep 16
Changed: Nov 3
Last Checked: Nov 1 at 2:47PM
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 HomeZu by Simple Choice
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Investment Insights
Based on property information with market context.
This 3-bedroom, 2-full-bath condominium at 307 Stony Way features a refreshed interior with fresh paint and durable ceramic tile across the kitchen, great room, and hallway. All three bedrooms have new carpeting, while the kitchen includes granite countertops and stainless steel appliances. Both bathrooms have tiled finishes and showers, and the home also provides central air, in-unit laundry, and a spacious great room.
Built in 1971, the property is located in Norristown, PA. The condominium association handles landscaping and trash service, and residents have access to a swimming pool and playground within the community.
Built in 1971, the property is located in Norristown, PA. The condominium association handles landscaping and trash service, and residents have access to a swimming pool and playground within the community.
Key Highlights
- 3‑bedroom, 2‑full‑bath condominium
- Fresh paint and new carpeting in all three bedrooms
- Granite countertops and stainless steel kitchen appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,185
Cap Rate
7.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$383,700
$383.7K
Cap Rate 7%
$274,071
$274.1K
Cap Rate 9%
$213,167
$213.2K
Market Conditions
NOI Build-Up for 1,420 SF
Gross rent
$37.1K $26.16/SF
− Vacancy
−$2.3K −$1.60/SF
EGI
$34.9K $24.56/SF
− OpEx
−$15.7K −$11.05/SF
NOI
$19.2K $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%
$383,700
Cap Rate 7%
$274,071
Cap Rate 9%
$213,167
Alternative Uses
Best Use
Apartment 5plus
$274.1K
$239.8K – $319.8K
NOI $19,185 @ 7.0% cap · market cap 7.41%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$816.8K
$714.7K – $952.9K
NOI $57,176 @ 7.0% cap · market cap 22.08%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
272
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - Three-bedroom condominium with updated finishes, in-unit laundry, and access to a community pool and playground.
Where is this residential income property located?
The property is located at 307 STONY WAY Unit 307 Norristown, PA.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: 3‑bedroom, 2‑full‑bath condominium; Fresh paint and new carpeting in all three bedrooms; Granite countertops and stainless steel kitchen appliances
