Brick Duplex with Detached
1346 BUFFALO Road, Erie, PA 16503
For Sale
Contact for pricing
Each residence has three bedrooms, one bathroom, and separate water, gas, and electric meters.
Property Size2,640 SF
Price / SF$83.30
Days on Market120
Property Features for 1346 BUFFALO Road
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Utilities to Site
Building Details
Buildings
Construction
Listing Agency:
Howard Hanna
Listed By:
Jennie Bone · License PA RS332859
(814) 790-3047
Source:
Crexi
Added: Jul 16
Changed: Nov 12
Last Checked: Nov 12 at 7:26AM
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
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Investment Insights
Based on property information with market context.
This brick duplex contains 2,640 square feet across two residences, each configured with three bedrooms and one bathroom. A detached garage is also part of the property.
Water, gas, and electric service are separately metered for each unit.
Water, gas, and electric service are separately metered for each unit.
Key Highlights
- Two units, each with 3 bedrooms and 1 bathroom
- 2,640 square feet of living space
- Brick exterior with a detached garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,133
Cap Rate
8.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$362,660
$362.7K
Cap Rate 7%
$259,043
$259.0K
Cap Rate 9%
$201,478
$201.5K
Market Conditions
NOI Build-Up for 2,640 SF
Gross rent
$26.9K $10.20/SF
− Vacancy
−$1.0K −$0.39/SF
EGI
$25.9K $9.81/SF
− OpEx
−$7.8K −$2.94/SF
NOI
$18.1K $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%
$362,660
Cap Rate 7%
$259,043
Cap Rate 9%
$201,478
Alternative Uses
Best Use
Multifamily LT 5
$259.0K
$226.7K – $302.2K
NOI $18,133 @ 7.0% cap · market cap 8.25%
Second Best
Apartment 5plus
$231.8K
$202.8K – $270.4K
NOI $16,225 @ 7.0% cap · market cap 7.38%
Theoretical Best
Office A
$655.0K
$573.1K – $764.1K
NOI $45,847 @ 7.0% cap · market cap 20.85%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
384
Businesses Nearby
Explore this area
Business Placement
Demographics for 16503, PA
15,328
Population
6,375
Households
2.4
Avg Household Size
33
Median Age
12%
College-Educated
76%
High-School Grad
2.4 sq mi
ZIP Area
6,387
Density / Sq Mi
$29,108
Median Household Income
$25,679
Median Earnings
$837
Median Rent
$55,400
Median Home Value
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Market
Average Price Trend$/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 - Each residence has three bedrooms, one bathroom, and separate water, gas, and electric meters.
Where is this duplex located?
The property is located at 1346 BUFFALO Road Erie, PA.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: Two units, each with 3 bedrooms and 1 bathroom; 2,640 square feet of living space; Brick exterior with a detached garage
