Brick
For Sale
$175,000
Pending
2630 Woodlawn Ave, Erie, PA 16510
Two three-bedroom residences include laundry hookups, updated baths, and separate living spaces.
Property Size2,112 SF
Days on Market14
Property Features for 2630 Woodlawn Ave
General Information
Standard status
Pending
Size
2,112 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,099
Amenities
hardwood floors
gas range & refrigerator
updated baths
laundry hook-ups
porch/balcony
full basement
deep lot
spacious rear yard
off street parking
Building Details
Construction
brick
Listing Agency:
RE/MAX Real Estate Group Erie
(814) 833-9801
Listed By:
Toni Smith · License #RS308478
(814) 746-0400
Source:
Exprealty
Added: Oct 22
Changed: Oct 31
Last Checked: Nov 3 at 8:38AM
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 RE/MAX Real Estate Group Erie
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Investment Insights
Based on property information with market context.
This 2,112-square-foot brick duplex contains two three-bedroom units. Hardwood flooring extends through the living and dining rooms in each residence, and both kitchens are equipped with a gas range and refrigerator. Updated bathrooms and laundry hookups serve the units. The second-floor residence also has a porch or balcony, while a full basement offers storage space.
The property is near Bayfront Parkway, Penn State Behrend, and local amenities. Site features include a deep lot, a spacious rear yard, and some off-street parking.
The property is near Bayfront Parkway, Penn State Behrend, and local amenities. Site features include a deep lot, a spacious rear yard, and some off-street parking.
Key Highlights
- Two three‑bedroom units in a 2,112‑square‑foot brick duplex
- Hardwood floors in the living and dining rooms of both units
- Each kitchen includes a gas range and refrigerator
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,507
Cap Rate
8.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$290,140
$290.1K
Cap Rate 7%
$207,243
$207.2K
Cap Rate 9%
$161,189
$161.2K
Market Conditions
NOI Build-Up for 2,112 SF
Gross rent
$21.5K $10.20/SF
− Vacancy
−$819 −$0.39/SF
EGI
$20.7K $9.81/SF
− OpEx
−$6.2K −$2.94/SF
NOI
$14.5K $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%
$290,140
Cap Rate 7%
$207,243
Cap Rate 9%
$161,189
Alternative Uses
Best Use
Multifamily LT 5
$207.2K
$181.3K – $241.8K
NOI $14,507 @ 7.0% cap · market cap 8.29%
Second Best
Apartment 5plus
$185.4K
$162.3K – $216.3K
NOI $12,980 @ 7.0% cap · market cap 7.42%
Theoretical Best
Office A
$524.0K
$458.5K – $611.3K
NOI $36,678 @ 7.0% cap · market cap 20.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
306
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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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom residences include laundry hookups, updated baths, and separate living spaces.
Where is this duplex located?
The property is located at 2630 Woodlawn Ave Erie, 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 three‑bedroom units in a 2,112‑square‑foot brick duplex; Hardwood floors in the living and dining rooms of both units; Each kitchen includes a gas range and refrigerator
