Duplex with
For Sale
$277,600
11839 HIGHLAND Avenue, Conneaut Lake, PA 16316
MULTI_FAMILY - Other - Conneaut Lake, PA
Property Size2,600 SF
Lot Size0.11 Acres
Price / SF$106.77
Days on Market44
Property Features for 11839 HIGHLAND Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
R-1
Bedrooms
6
Bathrooms
6
Full bathrooms
4
Half bathrooms
2
Rooms
Bathroom 2, Dining Room, Bedroom 5, Bathroom 5, Bathroom 3, Bedroom 3, Bathroom 1, Bedroom 6, Basement, Bathroom 4, Bathroom 6, Bedroom 2, Bedroom 1, Bedroom 4
Parking
4
Fireplace
1
Lot features
Level, Mineral Rights
Elementary school district
Conneaut
Middle school district
Conneaut
High school district
Conneaut
Directions
From Hwy 18N to left on Shady. Follow to left on E Center St to right on Highland. Property on left with signage.
Subdivision
25 - Sadsbury/E Fallowfield/W Fallowfield/Greenwood
Standard status
Active
APN
4403-049-13
Size
2,600 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4618
Expense value
2000
Expense
SecurityDeposit
Expense freq.
One Time
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
2002
Flooring type
Carpet, Laminate
Building materials
Frame
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Howard Hanna BK Conneaut Lake
(814) 382-5225
Listed By:
Thomas Martinac · License #RS330992
(412) 841-7881
Added: Jul 2
Changed: Aug 3
Last Checked: Aug 14 at 2:06PM
MLS# 191842
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 duplex property on Highland Avenue in Conneaut Lake offers a flexible layout for a range of residential uses. The frame construction includes a basement, a dining room, and multiple bedroom and bathroom spaces, with six bedrooms and six bathrooms. Flooring includes laminate and carpet, and the home has a fireplace.
Built in 2002, the property is served by public water and public sewer. Heating is natural gas forced air, and cooling is provided by window unit(s). The roof is asphalt.
The property is positioned for potential use as a short-term rental, a year-round rental, or a personal home or vacation get-a-way, and it may appeal to buyers interested in proximity to Conneaut Lake-area recreation and community amenities referenced in the remarks.
Built in 2002, the property is served by public water and public sewer. Heating is natural gas forced air, and cooling is provided by window unit(s). The roof is asphalt.
The property is positioned for potential use as a short-term rental, a year-round rental, or a personal home or vacation get-a-way, and it may appeal to buyers interested in proximity to Conneaut Lake-area recreation and community amenities referenced in the remarks.
Key Highlights
- 0.1139‑acre lot in Conneaut Lake
- 2,600 SF duplex built in 2002
- Frame construction with asphalt roof and fireplace
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,735
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.83%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$434,700
$434.7K
Cap Rate 7%
$310,500
$310.5K
Cap Rate 9%
$241,500
$241.5K
Market Conditions
NOI Build-Up for 2,600 SF
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.
Gross rent
$32.8K $12.60/SF
− Vacancy
−$1.7K −$0.66/SF
EGI
$31.0K $11.94/SF
− OpEx
−$9.3K −$3.58/SF
NOI
$21.7K $8.36/SF
Area
Crawford County, PA
Vacancy
5.22%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$434,700
Cap Rate 7%
$310,500
Cap Rate 9%
$241,500
Alternative Uses
Best Use
Multifamily LT 5
$310.5K
$271.7K – $362.3K
NOI $21,735 @ 7.0% cap · market cap 7.83%
Second Best
Apartment 5plus
$284.9K
$249.3K – $332.4K
NOI $19,946 @ 7.0% cap · market cap 7.19%
Theoretical Best
Office A
$645.0K
$564.4K – $752.6K
NOI $45,153 @ 7.0% cap · market cap 16.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
105
Businesses Nearby
Explore this area
Business Placement
Demographics for 16316, PA
5,056
Population
3,474
Households
1.5
Avg Household Size
53
Median Age
25%
College-Educated
94%
High-School Grad
45.6 sq mi
ZIP Area
111
Density / Sq Mi
$64,906
Median Household Income
$40,362
Median Earnings
$782
Median Rent
$161,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Frame duplex on a small Conneaut Lake lot with public water and sewer.
Where is this duplex located?
The property is located at 11839 HIGHLAND Avenue Conneaut Lake, PA.
What is the asking price?
The asking price for this property is $277,600.
What are key features of this property?
This property features: 0.1139‑acre lot in Conneaut Lake; 2,600 SF duplex built in 2002; Frame construction with asphalt roof and fireplace
