Two-Unit Income
408 W AIRY STREET Norristown, PA 19401
For Sale
$390,000
Pending
MULTI_FAMILY - NORRISTOWN, PA
Property Size2,182 SF
Days on Market94
Property Features for 408 W AIRY STREET
General Information
- Property type
- Residential Multi Family
- Property subtype
- Townhouse
- Bedrooms
- 5
- Rooms
- Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Bedroom 1
- Standard status
- Pending
- Size
- 2,182 SF
Building Details
- Year built
- 1900
Listing Agency:
BHHS Fox & Roach Blue Bell
(215) 542-2200
Listed By:
Cindy Marcinkowski · License #RS347703
(215) 480-2665
Added: Apr 21
Changed: Jul 23
Last Checked: Jul 23 at 2:06PM
MLS# PAMC2176328
Copyright © 2026 Berkshire Hathaway HomeServices Fox & Roach, Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained two-unit duplex is offered for sale with both units currently tenant-occupied. The property features separate utilities, with each tenant paying their own expenses, supporting straightforward unit management for an owner.
Unit 1 is configured with 2 bedrooms and 1 bathroom, while Unit 2 offers a 3-bedroom, 1-bath layout. The unit mix provides variety in bedroom count between the two rentals.
The seller indicates the buyer will be responsible for U&O, and the owner will guide the buyer through the current tenant onboarding and transition process to support a seamless transfer of ownership. The property is located in Norristown, Pennsylvania, near shopping, dining, and major commuter routes.
Unit 1 is configured with 2 bedrooms and 1 bathroom, while Unit 2 offers a 3-bedroom, 1-bath layout. The unit mix provides variety in bedroom count between the two rentals.
The seller indicates the buyer will be responsible for U&O, and the owner will guide the buyer through the current tenant onboarding and transition process to support a seamless transfer of ownership. The property is located in Norristown, Pennsylvania, near shopping, dining, and major commuter routes.
Key Highlights
- 2‑unit income‑producing property built in 1900
- Unit 1: 2‑bedroom, 1‑bath layout (tenant‑occupied)
- Unit 2: 3‑bedroom, 1‑bath layout (tenant‑occupied)
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $48.4k | $22.20 |
| − Vacancy | −$3.1k | −$1.44 |
| EGI | $45.3k | $20.76 |
| − OpEx | −$13.6k | −$6.23 |
| NOI | $31.7k | $14.53 |
2,182 SF · lease $22.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$452.9K
$396.3K – $528.4K
NOI $31,704 @ 7.0% cap · market cap 8.13%
Second Best
Apartment 5plus
$421.1K
$368.5K – $491.3K
NOI $29,480 @ 7.0% cap · market cap 7.56%
Theoretical Best
Specialty Retail
$1.26M
$1.10M – $1.46M
NOI $87,858 @ 7.0% cap · market cap 22.53%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - For sale as a tenant-occupied duplex with separate utilities, offering a 2-bedroom and a 3-bedroom unit.
Where is this duplex located?
The property is located at 408 W AIRY STREET Norristown, PA.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: 2‑unit income‑producing property built in 1900; Unit 1: 2‑bedroom, 1‑bath layout (tenant‑occupied); Unit 2: 3‑bedroom, 1‑bath layout (tenant‑occupied)
