Charming Ranch in Conneaut
For Sale
$115,000
Pending
1030 WATER Street, Conneaut Lake, PA 16316
MULTI_FAMILY - Other - Conneaut Lake, PA
Property Size870 SF
Lot Size0.27 Acres
Days on Market94
Property Features for 1030 WATER Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bedroom 2, Bathroom 1
Parking
2
Lot features
Sloped, Trees
Elementary school district
Conneaut
Middle school district
Conneaut
High school district
Conneaut
Directions
CCCH - Diamond to S Main, R on Linden, L Rt 6 W to Conneaut Lake, continue on Water Street, Property on R
Subdivision
25 - Sadsbury/E Fallowfield/W Fallowfield/Greenwood
Standard status
Pending
APN
4403-028
Size
870 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
1383
Expense value
2000
Expense
SecurityDeposit
Expense freq.
One Time
Utilities
Sewer type
Septic Tank
Heating system
Natural Gas, Forced Air
Water source
Well
Building Details
Year built
1959
Floors in Building
1
Number of units
1
Building materials
Frame, VinylSiding
Roof type
Metal
Architectural style
Other
Listing Agency:
ERA Richmond Real Estate Service · ERA Real Estate
(814) 337-6000
Listed By:
Annette Hoover · License #RS332922
(814) 282-6286
Added: May 11
Changed: Aug 3
Last Checked: Aug 12 at 2:06PM
MLS# 190842
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 charming 1-story ranch is located just outside downtown Conneaut Lake. The property includes 2 bedrooms and 1 bathroom within 870 square feet of living space. It features a nice-sized yard of 0.27 acres, offering ample room for a garden and outdoor entertaining. A back deck provides a spot to sit and relax. Inside, a cozy eat-in kitchen opens to the comfortable living room. A bonus room offers flexibility for use as an office, den, or additional storage. This property is suitable as a lovely home or an investment property.
Key Highlights
- 1‑story ranch home built in 1959 with 2 bedrooms and 1 bathroom
- Frame with vinyl siding construction and a metal roof
- Heating includes forced air with natural gas
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
$6,674
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
5.80%
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%
$133,480
$133.5K
Cap Rate 7%
$95,343
$95.3K
Cap Rate 9%
$74,156
$74.2K
Market Conditions
NOI Build-Up for 870 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
$12.8K $14.76/SF
− Vacancy
−$706 −$0.81/SF
EGI
$12.1K $13.95/SF
− OpEx
−$5.5K −$6.28/SF
NOI
$6.7K $7.67/SF
Area
Crawford County, PA
Vacancy
5.50%
Lease Rate
$14.76 /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%
$133,480
Cap Rate 7%
$95,343
Cap Rate 9%
$74,156
Alternative Uses
Best Use
Apartment 5plus
$95.3K
$83.4K – $111.2K
NOI $6,674 @ 7.0% cap · market cap 5.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$215.8K
$188.9K – $251.8K
NOI $15,109 @ 7.0% cap · market cap 13.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
110
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Single family property - Charming 2-bedroom ranch with spacious yard near Conneaut Lake.
Where is this single family property located?
The property is located at 1030 WATER Street Conneaut Lake, PA.
What is the asking price?
The asking price for this property is $115,000.
What are key features of this property?
This property features: 1‑story ranch home built in 1959 with 2 bedrooms and 1 bathroom; Frame with vinyl siding construction and a metal roof; Heating includes forced air with natural gas
