Single-Family Home With
For Sale
$129,900
181 ROBISON Road W, Erie, PA 16509
MULTI_FAMILY - Other - Erie, PA
Property Size1,824 SF
Lot Size1.04 Acres
Price / SF$71.22
Days on Market49
Property Features for 181 ROBISON Road W
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R-1
Bedrooms
2
Rooms
Bedroom 1, Bedroom 2
Lot features
Level, Mineral Rights, Wooded
Elementary school district
Fort LeBoeuf
Middle school district
Fort LeBoeuf
High school district
Fort LeBoeuf
Directions
Peach St heading south under i-90 turn East onto Robison road and home is on your right. Almost at Perry highway.
Subdivision
12 - Summit
Standard status
Active
APN
40-014-086.0-006.00
Size
1,824 SF
Lot size
1.04 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2692
Expense value
5000
Expense
SecurityDeposit
Expense freq.
One Time
Utilities
Sewer type
Septic Tank
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1948
Floors in Building
2
Building materials
VinylSiding
Roof type
Metal
Architectural style
Other
Listing Agency:
eXp Realty - Meadville
(888) 397-7352
Listed By:
Caleb Kowalczyk · License #RS364924
(814) 873-7793
Added: Jul 1
Changed: Aug 15
Last Checked: Aug 18 at 5:06AM
MLS# 191821
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 single-family property sits on just over one acre and includes a large living room with a wood-burning fireplace and access to a deck. The home has hardwood flooring in the bedroom and family room. A half bath is located off the primary bedroom, which also features walkout access. The property is described as needing updates and includes foundation updates, making it well-suited for investors prepared for a value-add or renovation.
The listing notes the home is in the Fort LeBoeuf School District and is centrally located in Erie County, with access described as minutes from I-90, I-79, and local shopping and dining areas along Peach Street. Public sewer connection is required at the road, while the tap is indicated as already in place. The grounds include a small stream.
The home contains additional rooms that may allow for reconfiguration, including conversion referenced for a third bedroom. Buyers should expect a cash transaction as stated in the remarks.
The listing notes the home is in the Fort LeBoeuf School District and is centrally located in Erie County, with access described as minutes from I-90, I-79, and local shopping and dining areas along Peach Street. Public sewer connection is required at the road, while the tap is indicated as already in place. The grounds include a small stream.
The home contains additional rooms that may allow for reconfiguration, including conversion referenced for a third bedroom. Buyers should expect a cash transaction as stated in the remarks.
Key Highlights
- 21x21 living room with wood‑burning fireplace and access to the deck
- Over 1 acre lot in Fort LeBoeuf School District with a small stream on the property
- Original structure includes hardwood floors in the bedroom and family room that could be converted to a third bedroom
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
$11,210
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
8.63%
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%
$224,200
$224.2K
Cap Rate 7%
$160,143
$160.1K
Cap Rate 9%
$124,556
$124.6K
Market Conditions
NOI Build-Up for 1,824 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
$21.2K $11.64/SF
− Vacancy
−$849 −$0.47/SF
EGI
$20.4K $11.17/SF
− OpEx
−$9.2K −$5.03/SF
NOI
$11.2K $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%
$224,200
Cap Rate 7%
$160,143
Cap Rate 9%
$124,556
Alternative Uses
Best Use
Apartment 5plus
$160.1K
$140.1K – $186.8K
NOI $11,210 @ 7.0% cap · market cap 8.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$452.5K
$396.0K – $527.9K
NOI $31,676 @ 7.0% cap · market cap 24.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
238
Businesses Nearby
Explore this area
Business Placement
Demographics for 16509, PA
28,005
Population
12,900
Households
2.2
Avg Household Size
44
Median Age
37%
College-Educated
95%
High-School Grad
38.2 sq mi
ZIP Area
733
Density / Sq Mi
$68,880
Median Household Income
$41,143
Median Earnings
$1,074
Median Rent
$207,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Single-family property on just over an acre, with hardwood flooring, a wood-burning fireplace, and a black metal roof.
Where is this single family property located?
The property is located at 181 ROBISON Road W Erie, PA.
What is the asking price?
The asking price for this property is $129,900.
What are key features of this property?
This property features: 21x21 living room with wood‑burning fireplace and access to the deck; Over 1 acre lot in Fort LeBoeuf School District with a small stream on the property; Original structure includes hardwood floors in the bedroom and family room that could be converted to a third bedroom
