2-Unit Duplex with Detached
1044 W 21st St, Erie, PA 16502
For Sale
$179,900
The property includes shared basement laundry, a small yard, and off-street parking.
Property Size2,224 SF
Price / SF$80.89
Days on Market9
Property Features for 1044 W 21st St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Additional Details
Multifamily Units
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
shared basement laundry
small yard
Building Details
Buildings
Listing Agency:
ERA Team VP Erie
(814) 247-7653
Listed By:
Adell Lane · License #RS358438
(814) 920-2653
Source:
Exprealty
Added: Oct 30
Changed: Nov 6
Last Checked: Nov 6 at 2:41PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of ERA Team VP Erie
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Investment Insights
Based on property information with market context.
This 2,224-square-foot duplex contains two residential units and shared laundry facilities in the basement. A detached two-car garage, a small yard, and off-street parking are also part of the property. Long-term tenants are in place, and a local property management company has handled the property over time.
The duplex is located minutes from Erie Co-op and Crunch Fitness in Erie, Pennsylvania.
The duplex is located minutes from Erie Co-op and Crunch Fitness in Erie, Pennsylvania.
Key Highlights
- Two‑unit duplex with 2,224 square feet
- Detached two‑car garage
- Shared basement laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,276
Cap Rate
8.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$305,520
$305.5K
Cap Rate 7%
$218,229
$218.2K
Cap Rate 9%
$169,733
$169.7K
Market Conditions
NOI Build-Up for 2,224 SF
Gross rent
$22.7K $10.20/SF
− Vacancy
−$862 −$0.39/SF
EGI
$21.8K $9.81/SF
− OpEx
−$6.5K −$2.94/SF
NOI
$15.3K $6.87/SF
Area
Erie County, PA
Vacancy
3.80%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$305,520
Cap Rate 7%
$218,229
Cap Rate 9%
$169,733
Alternative Uses
Best Use
Multifamily LT 5
$218.2K
$191.0K – $254.6K
NOI $15,276 @ 7.0% cap · market cap 8.49%
Second Best
Apartment 5plus
$195.3K
$170.9K – $227.8K
NOI $13,669 @ 7.0% cap · market cap 7.60%
Theoretical Best
Office A
$551.8K
$482.8K – $643.7K
NOI $38,623 @ 7.0% cap · market cap 21.47%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
705
Businesses Nearby
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Business Placement
Demographics for 16502, PA
15,435
Population
7,811
Households
2
Avg Household Size
34
Median Age
18%
College-Educated
90%
High-School Grad
2.5 sq mi
ZIP Area
6,174
Density / Sq Mi
$34,649
Median Household Income
$27,342
Median Earnings
$831
Median Rent
$90,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Erie, PA
Properties on Market for Duplexes in Erie
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The property includes shared basement laundry, a small yard, and off-street parking.
Where is this duplex located?
The property is located at 1044 W 21st St Erie, PA.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,224 square feet; Detached two‑car garage; Shared basement laundry
