Two-Unit Updated Income
125 PARADE Street Erie, PA 16507
For Sale
$137,900
Pending
MULTI_FAMILY - Other - Erie, PA
Property Size1,628 SF
Lot Size0.05 Acres
Days on Market64
Property Features for 125 PARADE Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Rooms
Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 4, Bedroom 2, Bedroom 1
Parking
2
Standard status
Pending
APN
14-010-053.0-217.00
Size
1,628 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
1234
Expense value
5000
Expense
SecurityDeposit
Expense freq.
One Time
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1913
Floors in Building
2
Number of units
2
Building materials
Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
Coldwell Banker Select - Peach
(814) 453-4578
Listed By:
Jeremy Bloeser · License #RS352869
(814) 314-9125
Added: May 26
Changed: Jul 14
Last Checked: Jul 28 at 6:06AM
MLS# 191126
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 two-unit duplex income property has been nicely maintained and fully updated. The improvements noted include newly updated electrical service, a freshly painted second-floor unit, and installed appliances. The property is designed for straightforward duplex ownership with two rental units under one roof, supporting an owner-operator or investor who wants day-to-day management in a smaller footprint.
The property is located in Erie, Pennsylvania at 125 PARADE Street (16507). Public remarks indicate the home is close to the bayfront, along with major employers and downtown amenities, placing it within reach of local destinations and everyday convenience.
For buyers seeking a turn-key residential income asset, the documented updates provide a practical foundation. At the time of listing, one current tenant is in place to start your ownership. With electrical service updates and refreshed finishes/appliances already completed as described, the property may appeal to investors and owner-occupants looking to minimize immediate capital work while adding a two-unit rental to a portfolio.
The property is located in Erie, Pennsylvania at 125 PARADE Street (16507). Public remarks indicate the home is close to the bayfront, along with major employers and downtown amenities, placing it within reach of local destinations and everyday convenience.
For buyers seeking a turn-key residential income asset, the documented updates provide a practical foundation. At the time of listing, one current tenant is in place to start your ownership. With electrical service updates and refreshed finishes/appliances already completed as described, the property may appeal to investors and owner-occupants looking to minimize immediate capital work while adding a two-unit rental to a portfolio.
Key Highlights
- Two‑unit income property built in 1913
- Frame construction with composition roof
- Natural gas forced‑air heating; public water and public sewer
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 | $16.6k | $10.20 |
| − Vacancy | −$631 | −$0.39 |
| EGI | $16.0k | $9.81 |
| − OpEx | −$4.8k | −$2.94 |
| NOI | $11.2k | $6.87 |
1,628 SF · lease $10.20/SF/yr · vacancy 3.80% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$159.7K
$139.8K – $186.4K
NOI $11,182 @ 7.0% cap · market cap 8.11%
Second Best
Apartment 5plus
$142.9K
$125.1K – $166.8K
NOI $10,006 @ 7.0% cap · market cap 7.26%
Theoretical Best
Office A
$403.9K
$353.4K – $471.2K
NOI $28,272 @ 7.0% cap · market cap 20.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Fully updated two-unit income property with recent electrical updates and an actively occupied unit.
Where is this duplex located?
The property is located at 125 PARADE Street Erie, PA.
What is the asking price?
The asking price for this property is $137,900.
What are key features of this property?
This property features: Two‑unit income property built in 1913; Frame construction with composition roof; Natural gas forced‑air heating; public water and public sewer
