Multifamily Property With Detached
New
For Sale
$110,000
315 Oak Road, Oil City, PA 16301
MULTI_FAMILY - Oil City, PA
Property Size1,476 SF
Lot Size0.60 Acres
Price / SF$74.53
Days on Market2
Property Features for 315 Oak Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 3, Bathroom 3, Basement, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2
Basement
Full
Elementary school district
Oil City
Middle school district
Oil City
High school district
Oil City
Subdivision
Venango
Standard status
Active
APN
07,009.-075..-000
Size
1,476 SF
Lot size
0.60 Acres
Taxes and HOA fees
Tax Annual Amount
2012
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Roof type
Composition
Listing Agency:
Richards & Richards Real Estate LLC
(814) 437-2326
Listed By:
Robert Richards
(814) 437-2326
Added: Aug 4
Last Checked: Aug 5 at 2:06AM
MLS# 164181
Copyright © 2026 Allegheny Valley Board of Realtors. 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 multifamily property includes two separate houses and a large detached garage. The front residence provides two bedrooms and one bathroom, while the rear residence includes two bedrooms and one and a half bathrooms. The rear house is currently vacant, and the garage is currently rented. The property contains 1,476 square feet on a 0.6-acre lot.
Built in 1900, the property has forced-air heating, a composition roof, public water, and public sewer. It is located in Oil City, Pennsylvania, and carries R2 zoning. The separate residential structures and detached garage create a straightforward multifamily configuration with both residential and auxiliary rental space.
Built in 1900, the property has forced-air heating, a composition roof, public water, and public sewer. It is located in Oil City, Pennsylvania, and carries R2 zoning. The separate residential structures and detached garage create a straightforward multifamily configuration with both residential and auxiliary rental space.
Key Highlights
- Two separate houses on a 0.6‑acre lot
- Front house has 2 bedrooms and 1 bathroom
- Rear house offers 2 bedrooms and 1.5 bathrooms; currently vacant
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 | $19.5k | $13.20 |
| − Vacancy | −$2.3k | −$1.58 |
| EGI | $17.1k | $11.62 |
| − OpEx | −$7.7k | −$5.23 |
| NOI | $9.4k | $6.39 |
1,476 SF · lease $13.20/SF/yr · vacancy 12.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$134.7K
$117.9K – $157.2K
NOI $9,430 @ 7.0% cap · market cap 8.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$467.6K
$409.2K – $545.5K
NOI $32,732 @ 7.0% cap · market cap 29.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
78
Businesses Nearby
Explore this area
Business Placement
Demographics for 16301, PA
14,935
Population
7,648
Households
2
Avg Household Size
45
Median Age
18%
College-Educated
90%
High-School Grad
94.7 sq mi
ZIP Area
158
Density / Sq Mi
$57,368
Median Household Income
$34,371
Median Earnings
$809
Median Rent
$84,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Two separate houses and an income-producing detached garage are situated on a 0.6-acre residential property.
Where is this multifamily property located?
The property is located at 315 Oak Road Oil City, PA.
What is the asking price?
The asking price for this property is $110,000.
What are key features of this property?
This property features: Two separate houses on a 0.6‑acre lot; Front house has 2 bedrooms and 1 bathroom; Rear house offers 2 bedrooms and 1.5 bathrooms; currently vacant
