NOT LISTED FOR SALE

705 Chain St Norristown, PA 19401

Estimated Value: $139,000 - $311,000

5 Beds
3 Baths
2,664 Sq Ft
$78/Sq Ft Est. Value

Last Sold May 29, 2020

Last sale price $90,000 $34 Per Sq Ft

Est. 132% increase in value since last sale

Current estimated payment $1,555/month

Highlights

  • No HOA
  • 2 Car Detached Garage
  • 90% Forced Air Heating System

About This Home

As of May 2020

Listing agent owns the property. Investor special! This single family end unit townhome has 6 beds, 4 baths, and 2 detached garages in the rear. This corner property is huge with about 2700 sq. ft. and unlimited potential. You can build up and make profit as a single family or you can apply for a different variance; triplex, duplex, mixed use. Unfortunately, time and effort is something I am not able to pursue at the time for this property. Run the comps and see for yourself! Profit comes in many different ways. It is priced right with the amount of legal work and township fees that were already collected. Initially when purchased, the zoning and tax records showed a 4 unit/ quadraplex. After meeting with the zoning board and an appeal afterwards, they have reverted it back to a single family. The reason being is during its abandonment, it lost its zoning. The property is looking for the right owner to bring her back to life! Schedule your showing now! The property is boarded up so an advance notice is required. With the right owner and care the cash flow is endless.

Last Agent to Sell the Property

Pradeep John

(215) 760-5843 pradeepjohn21@gmail.com Keller Williams Real Estate Tri-County License #AB068822 Listed on: 03/06/2020

Keller Williams Real Estate Tri-County

Last Buyer's Agent

Vijay Peethambaram

(215) 360-1783 vpeetham@gmail.com Tesla Realty Group, LLC License #RS338509

Tesla Realty Group, LLC

Townhouse Details

Home Type

  • Townhome

Year Built

  • Built in 1875

Lot Details

  • 3,050 Sq Ft Lot
  • Lot Dimensions are 30.00 x 0.00

Parking

  • 2 Car Detached Garage
  • Rear-Facing Garage
  • On-Street Parking

Home Design

  • Converted Dwelling
  • Brick Exterior Construction

Interior Spaces

  • 2,664 Sq Ft Home
  • Property has 3 Levels
  • Basement Fills Entire Space Under The House

Bedrooms and Bathrooms

  • 5 Main Level Bedrooms
  • 3 Full Bathrooms

Utilities

  • 90% Forced Air Heating System

Community Details

  • No Home Owners Association
  • Norristown Subdivision

Listing and Financial Details

  • Tax Lot 083
  • Assessor Parcel Number 13-00-07420-001

Townhouse Details

Home Type

Townhome

Year Built

Built in 1875

Lot Details

0

Parking

2

Listing Details

  • Property Type: Residential
  • Structure Type: End Of Row/Townhouse
  • Architectural Style: Converted Dwelling
  • Ownership: Fee Simple
  • New Construction: No
  • Story List: Main
  • Year Built: 1875
  • Remarks Public: Listing agent owns the property. Investor special! This single family end unit townhome has 6 beds, 4 baths, and 2 detached garages in the rear. This corner property is huge with about 2700 sq. ft. and unlimited potential. You can build up and make profit as a single family or you can apply for a different variance; triplex, duplex, mixed use. Unfortunately, time and effort is something I am not able to pursue at the time for this property. Run the comps and see for yourself! Profit comes in many different ways. It is priced right with the amount of legal work and township fees that were already collected. Initially when purchased, the zoning and tax records showed a 4 unit/ quadraplex. After meeting with the zoning board and an appeal afterwards, they have reverted it back to a single family. The reason being is during its abandonment, it lost its zoning. The property is looking for the right owner to bring her back to life! Schedule your showing now! The property is boarded up so an advance notice is required. With the right owner and care the cash flow is endless.
  • Special Features: None
  • Property Sub Type: Townhouses

Interior Features

  • Levels Count: 3+
  • Basement: Yes
  • Basement Type: Full
  • Total Sq Ft: 2664
  • Living Area Sq Ft: 2664
  • Price Per Sq Ft: 33.41
  • Above Grade Finished Sq Ft: 2664
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 705

Beds/Baths

  • Bedrooms: 5
  • Main Level Bedrooms: 5
  • Total Bathrooms: 3
  • Full Bathrooms: 3
  • Main Level Bathrooms: 3.00
  • Main Level Full Bathrooms: 3

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Construction Materials: Brick
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: No Pool
  • Tidal Water: No
  • Water View: No

Garage/Parking

  • Garage Spaces: 2.00
  • Garage: Yes
  • Garage Features: Garage - Rear Entry
  • Number Of Detached Garage Spaces: 2
  • Total Garage And Parking Spaces: 2
  • Type Of Parking: On Street, Detached Garage

Utilities

  • Central Air Conditioning: No
  • Heating Fuel: Natural Gas
  • Heating Type: 90% Forced Air
  • Heating: Yes
  • Sewer/Septic System: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Condo Co-Op Association: No
  • HOA: No
  • Senior Community: No

Schools

  • School District: NORRISTOWN AREA
  • School District Key: 300200397035
  • School District Source: Listing Agent

Green Features

  • Clean Green Assessed: No

Lot Info

  • Land Use Code: 1136
  • Lot Size Acres: 0.07
  • Lot Dimensions: 30.00 x 0.00
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 3050.00
  • Year Assessed: 2020
  • Zoning: R2

Rental Info

  • Vacation Rental: No

Tax Info

  • Assessor Parcel Number: 614826
  • School Tax: 3440.00
  • Tax Annual Amount: 5096.00
  • Assessor Parcel Number: 13-00-07420-001
  • Tax Lot: 083
  • Tax Total Finished Sq Ft: 2664
  • County Tax Payment Frequency: Annually
  • Tax Year: 2019
  • Close Date: 05/29/2020

MLS Schools

  • School District Name: NORRISTOWN AREA

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 6, 2020
Closed on
May 29, 2020
Sold by
John Pradeep
Bought by
Newstar Homes Llc
Seller's Agent
Pradeep John
Keller Williams Real Estate Tri-County
Buyer's Agent
Vijay Peethambaram
Tesla Realty Group, LLC
List Price
$89,000
Sold Price
$90,000
Premium/Discount to List
$1,000
1.12%
Current Estimated Value
$209,037

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$119,037
Avg. Annual Appreciation
16.86%

Purchase Details

Listed on
Dec 14, 2017
Closed on
Jan 22, 2018
Sold by
Servicelink Nls Llc
Bought by
John Pradeep
Seller's Agent
Alvaro Ronderos
Independence Real Estate Sales LLC
Buyer's Agent
Pradeep John
Keller Williams Real Estate Tri-County
List Price
$45,000
Sold Price
$53,000
Premium/Discount to List
$8,000
17.78%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
25.52%

Purchase Details

Closed on
Jan 30, 2015
Sold by
The Secretary Of Housing & Urban Develop
Bought by
Bank Of America Na

Purchase Details

Closed on
Aug 15, 2013
Sold by
Bank Of America Na
Bought by
Secretary Of Housing & Urban Development

Purchase Details

Closed on
May 29, 2013
Sold by
Cain Ashley
Bought by
Bank Of America Na

Purchase Details

Closed on
Feb 5, 2009
Sold by
Cain Bonnie
Bought by
Cain Ashley

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$110,271
Interest Rate
5.06%

Purchase Details

Closed on
Mar 30, 2000
Sold by
Homeside Lending Inc
Bought by
Bank Of America Na

Purchase Details

Closed on
Aug 9, 1996
Sold by
Litt Lawrence and Litt Sandra
Bought by
Craven Vincent E
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Newstar Homes Llc $90,000 None Available
John Pradeep $53,000 --
Bank Of America Na $1,708 Attorney
Secretary Of Housing & Urban Development -- None Available
Bank Of America Na $1,708 None Available
Cain Ashley $127,500 None Available
Bank Of America Na $93,298 --
Craven Vincent E $96,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Cain Ashley $110,271
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
05/29/2020 05/29/20 Sold $90,000 +1.1% $34 / Sq Ft
05/19/2020 05/19/20 Pending -- -- --
05/18/2020 05/18/20 For Sale $89,000 -1.1% $33 / Sq Ft
03/23/2020 03/23/20 Off Market $90,000 -- --
03/06/2020 03/06/20 For Sale $89,000 +67.9% $33 / Sq Ft
01/31/2018 01/31/18 Sold $53,000 +17.8% $20 / Sq Ft View Prior Sale
12/19/2017 12/19/17 Pending -- -- --
12/14/2017 12/14/17 For Sale $45,000 -- $17 / Sq Ft
Source: Bright MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $5,507 $89,710 $17,230 $72,480
2024 $5,507 $89,710 $17,230 $72,480
2023 $5,457 $89,710 $17,230 $72,480
2022 $5,339 $89,710 $17,230 $72,480
2021 $5,313 $89,710 $17,230 $72,480
2020 $5,069 $89,710 $17,230 $72,480
2019 $4,976 $89,710 $17,230 $72,480
2018 $3,312 $89,710 $17,230 $72,480
2017 $4,570 $89,710 $17,230 $72,480
2016 $4,534 $89,710 $17,230 $72,480
2015 $4,344 $89,710 $17,230 $72,480
2014 $4,344 $89,710 $17,230 $72,480
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Bright MLS

MLS Number: PAMC641852

Bright MLS

APN: 13-00-07420-001