Residential Income
2218 WILLOW Street Erie, PA 16510
For Sale
$115,000
MULTI_FAMILY - Other - Erie, PA
Property Size1,680 SF
Lot Size0.13 Acres
Price / SF$68.45
Days on Market55
Property Features for 2218 WILLOW Street
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Bedrooms
3
Bathrooms
1
Rooms
Bathroom 1, Bedroom 2, Bedroom 1, Bedroom 3
Standard status
Active
APN
50-003-029.0-006.00
Size
1,680 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4030
Expense value
2000
Expense
SecurityDeposit
Expense freq.
One Time
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1940
Floors in Building
2
Number of units
1
Building materials
VinylSiding
Roof type
Composition
Architectural style
Other
Listing Agency:
Agresti Real Estate
(814) 459-9400
Listed By:
Brittany Redditt · License #RS363321
(814) 572-5784
Added: Jun 4
Changed: Jul 24
Last Checked: Jul 28 at 7:06AM
MLS# 191325
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 residential income property is a single-family rental home offered for sale in Erie, Pennsylvania. The home is being sold as-is, with the seller making no repairs. A long-term tenant is currently occupying the property and would like to remain if possible.
The property is located at 2218 WILLOW Street in Erie, PA 16510. The lot size is listed at 0.1267 acres, and the property size is listed at 1,680 square feet.
Interested buyers should note the existing tenancy and the as-is condition when evaluating the opportunity.
The property is located at 2218 WILLOW Street in Erie, PA 16510. The lot size is listed at 0.1267 acres, and the property size is listed at 1,680 square feet.
Interested buyers should note the existing tenancy and the as-is condition when evaluating the opportunity.
Key Highlights
- Well‑established rental property with a long‑term tenant in place
- Year built 1940
- Public water and public sewer
Financial Insights For Apartment 5plus
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 | $19.6k | $11.64 |
| − Vacancy | −$782 | −$0.47 |
| EGI | $18.8k | $11.17 |
| − OpEx | −$8.4k | −$5.03 |
| NOI | $10.3k | $6.15 |
1,680 SF · lease $11.64/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$147.5K
$129.1K – $172.1K
NOI $10,325 @ 7.0% cap · market cap 8.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$416.8K
$364.7K – $486.3K
NOI $29,176 @ 7.0% cap · market cap 25.37%
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?
Single family property - Single-family rental home for sale in Erie, PA, offered as-is with a long-term tenant in place.
Where is this single family property located?
The property is located at 2218 WILLOW Street Erie, PA.
What is the asking price?
The asking price for this property is $115,000.
What are key features of this property?
This property features: Well‑established rental property with a long‑term tenant in place; Year built 1940; Public water and public sewer
