Features and Amenities at 5019 W Norris St

Incredible development opportunity in South Kensington with ZONING PERMITS APPROVED for 4 Duplexes. This corner property is 64 X 57 feet in dimension and has zoning permits and subdivision plans approved for a total of 4 Duplexes and as a bonus includes the required geotech report and soil samples required for building permits. Each duplex is designed as a 16 x 45 footprint with bilevel units: 3bd/2ba lower units with rear yards and 3bd/3ba upper units with private roof decks. These units can be sold as condos or held for a long term rental portfolio. Each building has projected rents of approximately 3,800/month or 45,600/annual. The total package would generate 182,400 per year giving it a value of 2.3 mil at an 8% cap rate. This area is exploding with development and some large projects have recently been announced within a few block radius. Purchase now before prices continue to increase quickly.
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Local Schools

School Score Class Size Distance
James R Ludlow School C- 13 0.34 mi
Penn Treaty Middle School 1.03 mi

Home Details

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Estimated Mortgage Rates

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With a current price of $599,900 and a mortgage rate of 4.0%, someone purchasing 5019 W Norris St, Philadelphia, PA , 19122 could expect to have a monthly payment of $3,101. This assumes a 20% down payment of $119,980 , a high credit score and a 30 year fixed-rate mortgage. You can use the mortgage calculator to estimate the monthly payment with different values.

Loan Amount
Down Payment
20 %
Loan Term
30 years
0 years
40 years
Interest Rate
4 %
Homeowner Insurance
Property Tax
1.2 %
Principal & Interest$2,291Insurance$210Taxes$600PMI$0Estimated Payment$3,101

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Listing Source:
Bright MLS
Offered By:
Copper Hill Real Estate, LLC
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