Duplex with Detached
For Sale
$143,500
131 E 30th Street, Erie, PA 16504
Two residential units offer matching bedroom layouts, spacious common rooms, and outdoor porch space.
Property Size2,024 SF
Price / SF$70.90
Days on Market49
Property Features for 131 E 30th Street
General Information
Standard status
Active
Size
2,024 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,202
Amenities
garage
attic storage
balcony porch
Listing Agency:
Howard Hanna Erie Southwest
(814) 882-9826
Listed By:
Jeannette Hayes
(814) 882-9826
Source:
Exprealty
Added: Jul 13
Changed: Aug 20
Last Checked: Aug 29 at 1:07PM
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 Howard Hanna Erie Southwest
Investment Insights
Based on property information with market context.
This duplex contains 2,024 square feet with two separate two-bedroom units. Each residence includes a living room, dining area, and kitchen, along with access to a bright balcony porch. The property also includes a detached two-car garage with attic storage, providing additional enclosed space beyond the main building.
A long concrete driveway accommodates 8 plus parking spaces. The property is located at 131 E 30th Street in Erie, Pennsylvania. One tenant has occupied a unit for over 10 years, adding established occupancy history to the two-unit configuration.
A long concrete driveway accommodates 8 plus parking spaces. The property is located at 131 E 30th Street in Erie, Pennsylvania. One tenant has occupied a unit for over 10 years, adding established occupancy history to the two-unit configuration.
Key Highlights
- 2,024‑square‑foot duplex with two 2‑bedroom units
- Detached two‑car garage with attic storage
- Long concrete driveway with 8 plus parking spaces
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
$12,439
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
8.67%
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%
$248,780
$248.8K
Cap Rate 7%
$177,700
$177.7K
Cap Rate 9%
$138,211
$138.2K
Market Conditions
NOI Build-Up for 2,024 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
$23.6K $11.64/SF
− Vacancy
−$942 −$0.47/SF
EGI
$22.6K $11.17/SF
− OpEx
−$10.2K −$5.03/SF
NOI
$12.4K $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 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%
$248,780
Cap Rate 7%
$177,700
Cap Rate 9%
$138,211
Alternative Uses
Best Use
Multifamily LT 5
$198.6K
$173.8K – $231.7K
NOI $13,902 @ 7.0% cap · market cap 9.69%
Second Best
Apartment 5plus
$177.7K
$155.5K – $207.3K
NOI $12,439 @ 7.0% cap · market cap 8.67%
Theoretical Best
Office A
$502.1K
$439.4K – $585.8K
NOI $35,150 @ 7.0% cap · market cap 24.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,022
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer matching bedroom layouts, spacious common rooms, and outdoor porch space.
Where is this duplex located?
The property is located at 131 E 30th Street Erie, PA.
What is the asking price?
The asking price for this property is $143,500.
What are key features of this property?
This property features: 2,024‑square‑foot duplex with two 2‑bedroom units; Detached two‑car garage with attic storage; Long concrete driveway with 8 plus parking spaces
