New search
Property profile & analytics
OFF-MARKET
Estimated value
$5,760,000
Assisted living facilities
1705 Locust St Norristown, PA 19401-3071
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US73-2339192
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1927
Total area
88,314 SF
Lot
2.15 ac (93,654 SF)
Zoning code
NOD
APN
13-00-21004-00-7
UPID
US73-2339192
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Rittenhouse School Apartments Apartment Building Furnished Apartment Building
-
Matthew Mark kaufman Housing Development
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.60M
Blend (final)
Blend
$5.76M
Owner & transaction history
Rittenhouse School Apartments LLC · 3 yrs held
Rittenhouse School Apartments LLC
since 2022
Last sale
$5.8M
4 recorded transactions
Zoning & alternative use
NOD · Norristown, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Norristown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Norristown submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$5,755,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$5.76M
Range $5.18M – $6.34M · ±10% · vs last sale $5.76M (Aug 24 2022)
Last sale anchor
$5.76M
Aug 24 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$65 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$35,601
Tax year 2023
Assessed value
$580,000
Assessed 2024
Previous assessed
$580,000
+0.0% YoY
Effective rate
6.14%
On assessed value
Total market value
$580,000
Applied tax rate
13.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1927
Heating
NONE
Cooling
NONE
Stories
2
Total area
88,314 SF
Lot
2.15 ac (93,654 SF)
Zoning code
NOD
APN
13-00-21004-00-7
UPID
US73-2339192
Jurisdiction
MONTGOMERY
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
NOD · Norristown, PA
Zoning NOD · permitted uses
NOD · Norristown, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Norristown. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1927
Heating
NONE
Cooling
Yes
Stories
2
Lot
2.15 ac
Current owner
From public records · entity-resolved
Rittenhouse School Apartments LLC
Entity
Mailing address
PO BOX 1451, LAKEWOOD, NJ 08701-1015
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 13, 2025
—
Rittenhouse School Apartments LLC
—
Deed
related
$7,549,000 · Lument Real Estate Capital LLC
Aug 24, 2022
$5,760,000
Rittenhouse School Apartments LLC
Rittenhouse School LP
Special Warranty Deed
$4,320,000 · Investors Bank
—
—
Rittenhouse School LP
—
Deed Of Trust
related
$46,510 · Pennsylvania Hsng Finance Agcy
—
—
Rittenhouse School
—
Deed Of Trust
related
$1,078,000 · Redevelopment Authority Montgo
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1705 Locust St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
