Two-Unit Duplex with Fenced
1121 E 27th St, Erie, PA 16504
For Sale
$110,000
Both residences offer two bedrooms and one bathroom, with one apartment currently vacant.
Property Size1,568 SF
Price / SF$70.15
Days on Market11
Property Features for 1121 E 27th St
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Taxes and HOA fees
Annual Taxes
Amenities
front porch
fenced yard
deck
Listing Agency:
eXp Realty - Erie
(888) 397-7352
Listed By:
JP Hood · License #RS353517
(814) 392-2298
Source:
Exprealty
Added: Oct 30
Changed: Nov 8
Last Checked: Nov 8 at 4:39PM
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 eXp Realty - Erie
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Investment Insights
Based on property information with market context.
This duplex contains two apartments, each configured with two bedrooms and one bathroom. The lower residence is vacant. Exterior features include a front porch, a fenced backyard, and a newer deck.
The property is in Southeast Erie, near local bus routes and Walmart.
The property is in Southeast Erie, near local bus routes and Walmart.
Key Highlights
- Two units, each with two bedrooms and one bathroom
- Lower apartment is vacant
- Fenced backyard and newer deck
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,637
Cap Rate
8.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$192,740
$192.7K
Cap Rate 7%
$137,671
$137.7K
Cap Rate 9%
$107,078
$107.1K
Market Conditions
NOI Build-Up for 1,568 SF
Gross rent
$18.3K $11.64/SF
− Vacancy
−$730 −$0.47/SF
EGI
$17.5K $11.17/SF
− OpEx
−$7.9K −$5.03/SF
NOI
$9.6K $6.15/SF
Area
Erie County, PA
Vacancy
4.00%
Lease Rate
$11.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$192,740
Cap Rate 7%
$137,671
Cap Rate 9%
$107,078
Alternative Uses
Best Use
Multifamily LT 5
$153.9K
$134.6K – $179.5K
NOI $10,770 @ 7.0% cap · market cap 9.79%
Second Best
Apartment 5plus
$137.7K
$120.5K – $160.6K
NOI $9,637 @ 7.0% cap · market cap 8.76%
Theoretical Best
Office A
$389.0K
$340.4K – $453.9K
NOI $27,231 @ 7.0% cap · market cap 24.76%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
378
Businesses Nearby
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Business Placement
Demographics for 16504, PA
16,135
Population
7,038
Households
2.3
Avg Household Size
38
Median Age
25%
College-Educated
91%
High-School Grad
2.8 sq mi
ZIP Area
5,763
Density / Sq Mi
$51,988
Median Household Income
$34,362
Median Earnings
$966
Median Rent
$109,600
Median Home Value
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Market
Average Price Trend$/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 - Both residences offer two bedrooms and one bathroom, with one apartment currently vacant.
Where is this duplex located?
The property is located at 1121 E 27th St Erie, PA.
What is the asking price?
The asking price for this property is $110,000.
What are key features of this property?
This property features: Two units, each with two bedrooms and one bathroom; Lower apartment is vacant; Fenced backyard and newer deck
