Duplex With Detached
For Sale
$175,000
233 Waterford St, Edinboro, PA 16412
Two separately configured units include kitchens, living areas, full baths, and dedicated heating and hot water systems.
Property Size2,048 SF
Price / SF$85.45
Days on Market8
Property Features for 233 Waterford St
General Information
Standard status
Active
Size
2,048 SF
Total Parking Spaces
2
Property subtype
Residential Income
Property Condition
Severity
Repairs Needed
Evidence
THE PROPERTY NEEDS UPDATES
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$2,708
Amenities
enclosed front porch
Building Details
Stories
2
Tenancy
Multi
Listing Agency:
Marsha Marsh RES Peach
(814) 866-8840
Listed By:
Dawn Nesbitt · License #RS226949L
(814) 882-0647
Source:
Exprealty
Added: Sep 15
Changed: Sep 21
Last Checked: Sep 21 at 2:35PM
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 Marsha Marsh RES Peach
Investment Insights
Based on property information with market context.
This duplex at 233 Waterford St in Edinboro, PA contains two residential units with distinct layouts. The first-floor unit includes one bedroom, a full bathroom, kitchen, dining area, living room, enclosed front porch, and mud room. The second-floor unit has two bedrooms, a full bathroom, kitchen, and living room.
A detached two-car garage provides additional property improvements, although both the garage and residence require updates. Each unit has its own furnace and hot water tank. Existing occupants are in place, and the owner currently covers water, sewer, trash, electric, and gas expenses. The property is being offered in as-is condition and is located across from the post office.
A detached two-car garage provides additional property improvements, although both the garage and residence require updates. Each unit has its own furnace and hot water tank. Existing occupants are in place, and the owner currently covers water, sewer, trash, electric, and gas expenses. The property is being offered in as-is condition and is located across from the post office.
Key Highlights
- Two‑unit duplex with one one‑bedroom unit and one two‑bedroom unit
- Detached two‑car garage included; garage requires updates
- Each unit has its own furnace and hot water tank
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
$14,067
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
8.04%
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%
$281,340
$281.3K
Cap Rate 7%
$200,957
$201.0K
Cap Rate 9%
$156,300
$156.3K
Market Conditions
NOI Build-Up for 2,048 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
$20.9K $10.20/SF
− Vacancy
−$794 −$0.39/SF
EGI
$20.1K $9.81/SF
− OpEx
−$6.0K −$2.94/SF
NOI
$14.1K $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 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%
$281,340
Cap Rate 7%
$200,957
Cap Rate 9%
$156,300
Alternative Uses
Best Use
Multifamily LT 5
$201.0K
$175.8K – $234.5K
NOI $14,067 @ 7.0% cap · market cap 8.04%
Second Best
Apartment 5plus
$179.8K
$157.3K – $209.8K
NOI $12,587 @ 7.0% cap · market cap 7.19%
Theoretical Best
Office A
$508.1K
$444.6K – $592.8K
NOI $35,566 @ 7.0% cap · market cap 20.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
140
Businesses Nearby
Explore this area
Business Placement
Demographics for 16412, PA
9,292
Population
4,806
Households
1.9
Avg Household Size
40
Median Age
50%
College-Educated
97%
High-School Grad
80.7 sq mi
ZIP Area
115
Density / Sq Mi
$67,659
Median Household Income
$34,061
Median Earnings
$883
Median Rent
$221,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately configured units include kitchens, living areas, full baths, and dedicated heating and hot water systems.
Where is this duplex located?
The property is located at 233 Waterford St Edinboro, PA.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Two‑unit duplex with one one‑bedroom unit and one two‑bedroom unit; Detached two‑car garage included; garage requires updates; Each unit has its own furnace and hot water tank
