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Property profile & analytics
OFF-MARKET
Estimated value
$2,930,000
Apartment buildings
620 Corson St Norristown, PA 19401-3782
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US73-5825109
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1920
Total area
42,074 SF
Lot
0.4 ac (17,321 SF)
Zoning code
R2
APN
13-00-08992-00-4
UPID
US73-5825109
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.82M
Blend (final)
Blend
$2.93M
Owner & transaction history
Corson Apartment Partners LLC · 5 yrs held
Corson Apartment Partners LLC
since 2021
Last sale
$3.1M
6 recorded transactions
Zoning & alternative use
R2 · 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
$1,965,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.93M
Range $2.64M – $3.22M · ±10% · vs last sale $3.10M (Jun 1 2021)
Last sale anchor
$3.10M
Jun 1 2021
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
$70 / 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
$59,760
Tax year 2023
Assessed value
$973,570
Assessed 2024
Previous assessed
$973,570
+0.0% YoY
Effective rate
6.14%
On assessed value
Total market value
$973,570
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1920
Heating
NONE
Cooling
NONE
Units
31
Total area
42,074 SF
Lot
0.4 ac (17,321 SF)
Zoning code
R2
APN
13-00-08992-00-4
UPID
US73-5825109
Jurisdiction
MONTGOMERY
Metro division
PHILADELPHIA, PA METROPOLITAN DIVISION
Zoning & alternative use
R2 · Norristown, PA
Zoning R2 · permitted uses
R2 · 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
1920
Heating
NONE
Cooling
Yes
Units
31
Lot
0.4 ac
Current owner
From public records · entity-resolved
Corson Apartment Partners LLC
Entity
Mailing address
29 S TROOPER RD STE #100, TROOPER, PA 19403-1694
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 1, 2021
$3,100,000
Corson Apartment Partners LLC
Db Corson LP
Deed
$2,500,000 · Essa Bank & Trust
Sep 16, 2015
$2,125,000
Db Corson LP
620 Corson Street LP
Grant Deed
$1,594,000 · Peapack Gladstone Bk
Jul 12, 2007
—
Corson Street 620
—
Trustees Deed
related
$2,250,000 · Dnb First NA
May 16, 2006
—
Corson Street 620
—
Trustees Deed
related
$2,250,000 · Dnb First NA
Nov 16, 2004
$245,000
Corson Street 620
Ciabattoni,julio I SR & Jean
Grant Deed
$1,030,000 · Allegiance Bank North America
—
—
Julio Ciabattoni
—
Deed Of Trust
related
$88,584 · Ostroff Fair & Co
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.
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