Turnkey Duplex in Erie,
406 RASPBERRY Street Erie, PA 16502
406 RASPBERRY Street, Erie, PA, 16502
$134,900
For Sale
$134,900
MULTI_FAMILY - Other - Erie, PA
Property Size1,840 SF
Lot Size0.08 Acres
Price / SF$73.32
Days on Market122
Property Features for 406 RASPBERRY Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 5, Bedroom 2, Bedroom 3
- Standard status
- Active
- APN
- 17-040-035.0-207.00
- Size
- 1,840 SF
- Lot size
- 0.08 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 2125
- Expense value
- 2500
- Expense
- SecurityDeposit
- Expense freq.
- One Time
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Natural Gas
- Water source
- Public
Building Details
- Year built
- 1892
- Floors in Building
- 2
- Number of units
- 2
- Building materials
- VinylSiding
- Roof type
- Composition
- Architectural style
- Other
Listing Agency
Agresti Real Estate
(814) 459-9400
2635 W 26th Street, Erie, PA
Listed by
Jake Scheloske · License #RS318016
(814) 449-7973
Added: Mar 19 Checked: Jul 18 at 11:06 pm
MLS# 189997
Listing URL
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 fully-occupied duplex presents an opportunity for investors seeking immediate returns and future growth. The property features two units: the first floor offers a 2-bedroom, 1-bath layout, while the second floor provides a more spacious 3-bedroom, 1-bath configuration. Both units have been updated with luxury vinyl plank (LVP) flooring, enhancing durability and modern appeal. Windows have been updated to improve energy efficiency and tenant comfort. The property includes separate utilities for each unit, as well as a separated basement, enhancing convenience and reducing owner expenses. Tenants are responsible for all utilities, plus landscaping and snow removal, making this a low-maintenance investment. The property is situated on a lot of 0.075 acres and has a property size of 1840 square feet. Given the strong rental demand in the area, there is potential to increase rents and maximize cash flow. The property is located in Erie, PA.
Key Highlights
- Fully occupied duplex with 2 units, each updated with luxury vinyl plank (LVP) flooring and energy‑efficiency windows
- Unit 1: 2 bedrooms and 1 bathroom (first floor)
- Unit 2: 3 bedrooms and 1 bathroom (second floor)
Local 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 | $21.4k | $11.64 |
| − Vacancy | −$857 | −$0.47 |
| EGI | $20.6k | $11.17 |
| − OpEx | −$9.3k | −$5.03 |
| NOI | $11.3k | $6.15 |
1,840 SF · lease $11.64/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$180.5K
$158.0K – $210.6K
NOI $12,638 @ 7.0% cap · market cap 9.37%
Second Best
Apartment 5plus
$161.5K
$141.4K – $188.5K
NOI $11,308 @ 7.0% cap · market cap 8.38%
Theoretical Best
Office A
$456.5K
$399.4K – $532.6K
NOI $31,954 @ 7.0% cap · market cap 23.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Fully occupied duplex with income potential in Erie, Pennsylvania.
Where is this duplex located?
The property is located at 406 RASPBERRY Street Erie, PA.
What is the asking price?
The asking price for this property is $134,900.
What are key features of this property?
This property features: Fully occupied duplex with 2 units, each updated with luxury vinyl plank (LVP) flooring and energy‑efficiency windows; Unit 1: 2 bedrooms and 1 bathroom (first floor); Unit 2: 3 bedrooms and 1 bathroom (second floor)
