Erie Income Producing
520 E 2ND Street Erie, PA 16507
For Sale
$147,000
MULTI_FAMILY - Other - Erie, PA
Property Size1,496 SF
Lot Size0.06 Acres
Price / SF$98.26
Days on Market408
Property Features for 520 E 2ND Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bedroom 5, Bedroom 3, Bathroom 1, Bedroom 4, Bedroom 2, Bedroom 1
- Standard status
- Active
- APN
- 14-010-054.0-108.00
- Size
- 1,496 SF
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 1079
- 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
- 1917
- Floors in Building
- 2
- Number of units
- 2
- Building materials
- Frame
- Roof type
- Composition
- Architectural style
- Other
Listing Agency:
Agresti Real Estate
(814) 459-9400
Listed By:
Dan Cruz · License #RS357852
(814) 460-0742
Added: Jun 12, 2025
Changed: Jul 24
Last Checked: Jul 24 at 11:06AM
MLS# 184250
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 income-producing duplex is configured with two bedrooms and one bath in each unit. Both units are currently operating as Airbnbs. The property is one of seven properties that could be purchased as a package. The lot size is 0.062 acres, and the property size is 1496 square feet. The property is located in Erie, PA.
Key Highlights
- Income‑producing investment property with 2 bedrooms and 1 bath in each unit
- Both units currently operated as AirBNB
- Frame construction with natural gas forced‑air heat and window unit cooling
Financial Insights For Multifamily LT 5
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 | $15.3k | $10.20 |
| − Vacancy | −$580 | −$0.39 |
| EGI | $14.7k | $9.81 |
| − OpEx | −$4.4k | −$2.94 |
| NOI | $10.3k | $6.87 |
1,496 SF · lease $10.20/SF/yr · vacancy 3.80% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$146.8K
$128.5K – $171.3K
NOI $10,276 @ 7.0% cap · market cap 6.99%
Second Best
Apartment 5plus
$131.3K
$114.9K – $153.2K
NOI $9,194 @ 7.0% cap · market cap 6.25%
Theoretical Best
Office A
$371.1K
$324.8K – $433.0K
NOI $25,980 @ 7.0% cap · market cap 17.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Income-generating duplex, currently operating as an Airbnb.
Where is this duplex located?
The property is located at 520 E 2ND Street Erie, PA.
What is the asking price?
The asking price for this property is $147,000.
What are key features of this property?
This property features: Income‑producing investment property with 2 bedrooms and 1 bath in each unit; Both units currently operated as AirBNB; Frame construction with natural gas forced‑air heat and window unit cooling
