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    631 Parade St Erie, PA 16503

    For Sale
    $149,900

    MULTI_FAMILY - Other - Erie, PA

    Property size:
    4,144 SF
    Lot size:
    0.09 Acres
    Days on Market:
    12
    Last Refresh:
    Dec 14 at 1:06 pm

    Property Features for 631 Parade St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bedroom 6, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 7, Bedroom 2, Bedroom 1, Bedroom 4, Bedroom 5
    Bedrooms
    7
    Bathrooms
    2
    APN
    14-010-013.0-424.00
    Parking features
    Garage
    Size
    4,144 SF
    Lot size
    0.09 Acres

    Taxes and HOA fees

    Expense value
    3000
    Expense
    SecurityDeposit
    Expense freq.
    One Time

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1902
    Floors in Building
    2
    Number of units
    2
    Building materials
    Brick
    Roof type
    Composition
    Architectural style
    Other

    North Pittsburgh Realty LP (724) 933-8500 [email protected]

    Listing agent Ron Kleppick (814) 881-7818 License #RS347581

    Listing date Dec 3, 2025

    MLS# 188992 Listing URL

    Copyright © 2025 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.

    Overview

    Erie Multifamily Investment Opportunity

    This unique property in Erie presents an opportunity to expand an investment portfolio. It features two full-size brick buildings with original hardwood floors and old construction charm. The first building, spanning 1500 square feet, includes 3 bedrooms, 1 bathroom, and a full basement. It is equipped with a gas fireplace, a new roof installed in 2019, and a new furnace from 2021. The second building, previously utilized as a private art studio, offers 2600 square feet across two stories with two separate entrances. It includes a kitchen on the second level and a bathroom. This building can be modified into a multi-unit structure, with plumbing already in place for an additional bathroom in the full basement. The property is currently vacant, and the rents and expenses are estimated. The property, situated on a 0.09-acre lot, has the potential to be a profitable investment, with the possibility of converting it into a 3 or 4-unit investment with modifications. A one-year HSA Warranty is included.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Realty agency Restaurant Spa & Massage Law Firm Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Erie
    County
    Erie
    State
    Pennsylvania
    Longitude
    -80.075791
    Latitude
    42.131846

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    FAQs

    What type of property is this?
    Duplex - Two buildings with potential for multi-unit conversion.
    Where is this duplex located?
    The property is located at 631 Parade St Erie, PA.
    What is the asking price?
    The asking price for this property is $149,900.
    What are key features of this property?
    This property features: - Two brick buildings on one property offer diversification.; - Large second building (2600 sqft) with multi-unit dwelling conversion potential.; - New roof (2019) and furnace (2021) in the first building.
    (814) 881-7818
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    631 Parade St Erie, PA 16503
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