Renovated Duplex with Leased
535 E LAFAYETTE Street, Norristown, PA 19401
For Sale
$295,000
Multi-Family, NORRISTOWN, PA
Property Size1,456 SF
Lot Size0.03 Acres
Price / SF$202.61
Days on Market49
Property Features for 535 E LAFAYETTE Street
General Information
Property type
Property subtype
Rooms
Parking features
Elementary school district
Middle school district
High school district
Standard status
Size
Lot size
Taxes and HOA fees
Tax Annual Amount
Utilities
Heating system
Cooling system
Building Details
Year built
Number of units
Building materials
Architectural style
Listing Agency:
Keller Williams Realty Wilmington
(302) 299-1100
Listed By:
sAAJAN Patel
(484) 799-6843
Added: Sep 23
Changed: Oct 15
Last Checked: Nov 10 at 1:06AM
MLS# PAMC2194910
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1,456-square-foot duplex contains two renovated residences: a two-bedroom, one-bath unit and a one-bedroom, one-bath unit. Both are leased, providing an established occupancy profile for the next owner. Improvements include LVP flooring, neutral paint, stainless steel kitchen appliances, tile backsplashes, and updated bathroom fixtures. The brick exterior, Colonial design, basement, central heating, and window-unit cooling contribute to the property’s physical profile.
Built in 1920 on a 0.0348-acre parcel at 535 E Lafayette Street in Norristown, the property includes on-street parking. The layout may also suit an owner-occupant seeking separate residential space within the same building.
Built in 1920 on a 0.0348-acre parcel at 535 E Lafayette Street in Norristown, the property includes on-street parking. The layout may also suit an owner-occupant seeking separate residential space within the same building.
Key Highlights
- Two‑unit duplex with both residences leased
- 1,456 square feet on a 0.0348‑acre parcel
- Unit 1: 2 bed, 1 bath; Unit 2: 1 bed, 1 bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,156
Cap Rate
7.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$423,120
$423.1K
Cap Rate 7%
$302,229
$302.2K
Cap Rate 9%
$235,067
$235.1K
Market Conditions
NOI Build-Up for 1,456 SF
Gross rent
$32.3K $22.20/SF
− Vacancy
−$2.1K −$1.44/SF
EGI
$30.2K $20.76/SF
− OpEx
−$9.1K −$6.23/SF
NOI
$21.2K $14.53/SF
Area
Montgomery County, PA
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$423,120
Cap Rate 7%
$302,229
Cap Rate 9%
$235,067
Alternative Uses
Best Use
Multifamily LT 5
$302.2K
$264.5K – $352.6K
NOI $21,156 @ 7.0% cap · market cap 7.17%
Second Best
Apartment 5plus
$281.0K
$245.9K – $327.9K
NOI $19,671 @ 7.0% cap · market cap 6.67%
Theoretical Best
Specialty Retail
$837.5K
$732.8K – $977.1K
NOI $58,625 @ 7.0% cap · market cap 19.87%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,473
Businesses Nearby
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Business Placement
Demographics for 19401, PA
43,414
Population
18,236
Households
2.4
Avg Household Size
36
Median Age
28%
College-Educated
86%
High-School Grad
6.2 sq mi
ZIP Area
7,002
Density / Sq Mi
$68,646
Median Household Income
$38,050
Median Earnings
$1,392
Median Rent
$225,700
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Norristown, PA
Properties on Market for Duplexes in Norristown
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences feature updated kitchens, modern bathrooms, and tenants already in place.
Where is this duplex located?
The property is located at 535 E LAFAYETTE Street Norristown, PA.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Two‑unit duplex with both residences leased; 1,456 square feet on a 0.0348‑acre parcel; Unit 1: 2 bed, 1 bath; Unit 2: 1 bed, 1 bath
