If you've read The Book on Rental Property Investing, specifically chapter 8 on location, I would classify much of Norristown itself as class C and some sections maybe even class D. Between Dekalb and Markley starts to become less desireable as you get further south towards Marshall and to the river. There are others that can probably narrow it down further, but after much research I chose not to invest in the borough itself. Look at historic sale prices on current listings and you'll see that homes don't seem to appreciate much, and if they do, it's only after a major renovation. A 4BR/2.5BA 2,500 sq.ft. row home sold for, say, $60,000 in 1985 and it's selling for $60,000 now? Has to make you wonder what you're getting into.
Not trying to discourage, just advising on what I found when I researched around a year ago.
As you move West of, say, Stanbridge St. and also further East, as well as North of Fornance, neighborhoods get better. Again, others who actually own Norristown properties will hopefully chime in.
