Norristown has a reputation as a shithole, and it kind of is, but also not. It was a poor and crime riddled shithole 10 - 15 years ago and now it is mostly just poor.

https://www.norristown.org/246/Crime-Data

Violent crime has decreased by about 50% in the last decade, though upticked slightly with the national crime wave post pandemic. It has held up a lot better than Philly has. If I have to attribute the drop in crime to anything, Norristown has seen a large Hispanic immigration wave over this period that are working class and family-oriented.

Overall as far as crime goes, it is very block by block. Some areas you would definitely feel uncomfortable being out and about late at night. Other areas have a good feel to it. My impression is the area you're looking is a better area, but I would look into crime statistics carefully.

Some pro's, the location is great, as I'm sure you're aware. It's basically the only working class area in the region that has both regional rail access to Philly as well as close access to a huge job hub at KOP. Anything else in the area that ticks both those boxes is expensive. The borough itself has some amazing bones and unrealized potential, however there are several reasons why I think this potential stays unrealized.

Some cons: I believe Norristown borough has both higher property taxes and a higher wage tax than the surrounding area. So you should look into that. Montgomery County in all its wisdom has stuck every single social service possible in Norristown which has basically guaranteed it to be an isolated bubble of armpit-stank forever. The school district is also horrible. Both those factors along with high taxes will limit any upside potential to your real estate.

Overall I'd say if you can do better than Norristown, then I would do better. But at the same time if it's all you can reasonably afford and you buy in a safer area I don't think you're irredeemably doomed by any means.