Two-House Duplex
For Sale
Under Contract
$110,000
315 Oak Road, Oil City, PA 16301
Residential Income, Oil City, PA
Property Size1,476 SF
Lot Size0.60 Acres
Price / SF$74.53
Days on Market32
Property Features for 315 Oak Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 3, Bathroom 1
Basement
Full
Elementary school district
Oil City
Middle school district
Oil City
High school district
Oil City
Subdivision
Venango
Standard status
Active Under Contract
APN
07,009.-075..-000
Size
1,476 SF
Lot size
0.60 Acres
Taxes and HOA fees
Tax Annual Amount
2012
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
Richards & Richards Real Estate LLC
(814) 437-2326
Listed By:
Robert Richards
(814) 673-4454
Added: Aug 4
Changed: Aug 27
Last Checked: Sep 4 at 8:06PM
MLS# 164181
Copyright © 2026 Allegheny Valley Board of Realtors. 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 R2-zoned residential property includes two separate houses on a 0.6-acre parcel, along with a detached garage that is currently rented. The front residence offers two bedrooms and one bathroom, while the rear residence contains two bedrooms and one and a half bathrooms. The rear house is vacant. Combined property size is 1,476 square feet.
Built in 1900, the buildings feature forced-air heating, composition roofing, public water, and public sewer service. The two-house layout and detached garage provide multiple improvements within one residential property.
Built in 1900, the buildings feature forced-air heating, composition roofing, public water, and public sewer service. The two-house layout and detached garage provide multiple improvements within one residential property.
Key Highlights
- Two separate houses on 0.6 acres
- Front house includes 2 bedrooms and 1 bathroom
- Rear house offers 2 bedrooms and 1.5 bathrooms and is currently vacant
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
$9,430
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
8.57%
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%
$188,600
$188.6K
Cap Rate 7%
$134,714
$134.7K
Cap Rate 9%
$104,778
$104.8K
Market Conditions
NOI Build-Up for 1,476 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
$19.5K $13.20/SF
− Vacancy
−$2.3K −$1.58/SF
EGI
$17.1K $11.62/SF
− OpEx
−$7.7K −$5.23/SF
NOI
$9.4K $6.39/SF
Area
Venango County, PA
Vacancy
12.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
45.00%
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%
$188,600
Cap Rate 7%
$134,714
Cap Rate 9%
$104,778
Alternative Uses
Best Use
Multifamily LT 5
$152.2K
$133.2K – $177.6K
NOI $10,655 @ 7.0% cap · market cap 9.69%
Second Best
Apartment 5plus
$134.7K
$117.9K – $157.2K
NOI $9,430 @ 7.0% cap · market cap 8.57%
Theoretical Best
Office A
$467.6K
$409.2K – $545.5K
NOI $32,732 @ 7.0% cap · market cap 29.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
87
Businesses Nearby
Explore this area
Business Placement
Demographics for 16301, PA
14,935
Population
7,648
Households
2
Avg Household Size
45
Median Age
18%
College-Educated
90%
High-School Grad
94.7 sq mi
ZIP Area
158
Density / Sq Mi
$57,368
Median Household Income
$34,371
Median Earnings
$809
Median Rent
$84,800
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 - R2-zoned residential property with two homes, a rented detached garage, and public water and sewer service.
Where is this duplex located?
The property is located at 315 Oak Road Oil City, PA.
What is the asking price?
The asking price for this property is $110,000.
What are key features of this property?
This property features: Two separate houses on 0.6 acres; Front house includes 2 bedrooms and 1 bathroom; Rear house offers 2 bedrooms and 1.5 bathrooms and is currently vacant
