Charming Ranch in Conneaut
1030 WATER Street Conneaut Lake, PA 16316
For Sale
$115,000
Pending
MULTI_FAMILY - Other - Conneaut Lake, PA
Property Size870 SF
Lot Size0.27 Acres
Days on Market80
Property Features for 1030 WATER Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
1
Rooms
Bathroom 1, Bedroom 2, Bedroom 1
Parking
2
Standard status
Pending
APN
4403-028
Size
870 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
1383
Expense value
2000
Expense
SecurityDeposit
Expense freq.
One Time
Utilities
Sewer type
Septic Tank
Heating system
Natural Gas, Forced Air
Water source
Well
Building Details
Year built
1959
Floors in Building
1
Number of units
1
Building materials
Frame, VinylSiding
Roof type
Metal
Architectural style
Other
Listing Agency:
ERA Richmond Real Estate Service
(814) 337-6000
Listed By:
Annette Hoover · License #RS332922
(814) 282-6286
Added: May 11
Changed: Jun 23
Last Checked: Jul 29 at 1:06PM
MLS# 190842
Copyright © 2026 Greater Erie Board of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This charming 1-story ranch is located just outside downtown Conneaut Lake. The property includes 2 bedrooms and 1 bathroom within 870 square feet of living space. It features a nice-sized yard of 0.27 acres, offering ample room for a garden and outdoor entertaining. A back deck provides a spot to sit and relax. Inside, a cozy eat-in kitchen opens to the comfortable living room. A bonus room offers flexibility for use as an office, den, or additional storage. This property is suitable as a lovely home or an investment property.
Key Highlights
- 1‑story ranch home with 2 bedrooms and 1 bathroom, built in 1959
- Eat‑in kitchen opens to the living room for an easy layout
- Includes a bonus room for an office, den, or additional storage
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $12.8k | $14.76 |
| − Vacancy | −$706 | −$0.81 |
| EGI | $12.1k | $13.95 |
| − OpEx | −$5.5k | −$6.28 |
| NOI | $6.7k | $7.67 |
870 SF · lease $14.76/SF/yr · vacancy 5.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$95.3K
$83.4K – $111.2K
NOI $6,674 @ 7.0% cap · market cap 5.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$215.8K
$188.9K – $251.8K
NOI $15,109 @ 7.0% cap · market cap 13.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Single family property - Charming 2-bedroom ranch with spacious yard near Conneaut Lake.
Where is this single family property located?
The property is located at 1030 WATER Street Conneaut Lake, PA.
What is the asking price?
The asking price for this property is $115,000.
What are key features of this property?
This property features: 1‑story ranch home with 2 bedrooms and 1 bathroom, built in 1959; Eat‑in kitchen opens to the living room for an easy layout; Includes a bonus room for an office, den, or additional storage
