2-Unit
For Sale
$280,000
2103 Station Rd, Erie, PA 16510
Newer windows, roof, and furnaces serve a two-unit residential income property.
Property Size1,637 SF
Price / SF$171.04
Days on Market10
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Property Features for 2103 Station Rd
General Information
Standard status
Active
Size
1,637 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,559
Listing Agency:
Coldwell Banker Select - Peach
(814) 453-4578
Listed By:
Julie Abele
(814) 323-4709
Source:
Exprealty
Added: Oct 6
Changed: Oct 15
Last Checked: Oct 15 at 3:45AM
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 Coldwell Banker Select - Peach
Investment Insights
Based on property information with market context.
This duplex contains two units and has newer windows, a newer roof, and newer furnaces. A one-year home warranty is included.
Penn State Behrend is 2.3 miles away, Mercyhurst University is 4.2 miles away, and Gannon University is 4.6 miles away. Shopping, dining, and everyday amenities are also described as convenient to the property.
Penn State Behrend is 2.3 miles away, Mercyhurst University is 4.2 miles away, and Gannon University is 4.6 miles away. Shopping, dining, and everyday amenities are also described as convenient to the property.
Key Highlights
- Two‑unit residential property
- Newer windows, roof, and furnaces
- Penn State Behrend is 2.3 miles away
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,244
Cap Rate
4.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$224,880
$224.9K
Cap Rate 7%
$160,629
$160.6K
Cap Rate 9%
$124,933
$124.9K
Market Conditions
NOI Build-Up for 1,637 SF
Gross rent
$16.7K $10.20/SF
− Vacancy
−$635 −$0.39/SF
EGI
$16.1K $9.81/SF
− OpEx
−$4.8K −$2.94/SF
NOI
$11.2K $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%
$224,880
Cap Rate 7%
$160,629
Cap Rate 9%
$124,933
Alternative Uses
Best Use
Multifamily LT 5
$160.6K
$140.6K – $187.4K
NOI $11,244 @ 7.0% cap · market cap 4.02%
Second Best
Apartment 5plus
$143.7K
$125.8K – $167.7K
NOI $10,061 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$406.1K
$355.4K – $473.8K
NOI $28,429 @ 7.0% cap · market cap 10.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
404
Businesses Nearby
Explore this area
Business Placement
Demographics for 16510, PA
24,515
Population
10,354
Households
2.4
Avg Household Size
41
Median Age
26%
College-Educated
92%
High-School Grad
33.0 sq mi
ZIP Area
743
Density / Sq Mi
$64,938
Median Household Income
$40,064
Median Earnings
$796
Median Rent
$158,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Newer windows, roof, and furnaces serve a two-unit residential income property.
Where is this duplex located?
The property is located at 2103 Station Rd Erie, PA.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Two‑unit residential property; Newer windows, roof, and furnaces; Penn State Behrend is 2.3 miles away
