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    Turnkey Duplex in Erie, PA

    406 RASPBERRY Street Erie, PA 16502

    406 RASPBERRY Street, Erie, PA, 16502
    $134,900
    For Sale
    Claim this Listing
    $134,900

    MULTI_FAMILY - Other - Erie, PA

    Property Size1,840 SF
    Lot Size0.08 Acres
    Price / SF$73.32
    AddedMar 19
    Days on Market120
    Last RefreshJul 16 at 7:06 am

    Property Features for 406 RASPBERRY Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    5
    Bathrooms
    2
    Rooms
    Bathroom 2, Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 5, Bedroom 2, Bedroom 3
    Standard status
    Active
    APN
    17-040-035.0-207.00
    Size
    1,840 SF
    Lot size
    0.08 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    2125
    Expense value
    2500
    Expense
    SecurityDeposit
    Expense freq.
    One Time

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Water source
    Public

    Building Details

    Year built
    1892
    Floors in Building
    2
    Number of units
    2
    Building materials
    VinylSiding
    Roof type
    Composition
    Architectural style
    Other

    Listing agent Jake Scheloske License #RS318016

    Listing office Agresti Real Estate 2635 W 26th Street, Erie, PA

    Listing date Mar 19, 2026

    MLS# 189997 Listing URL

    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 fully-occupied duplex presents an opportunity for investors seeking immediate returns and future growth. The property features two units: the first floor offers a 2-bedroom, 1-bath layout, while the second floor provides a more spacious 3-bedroom, 1-bath configuration. Both units have been updated with luxury vinyl plank (LVP) flooring, enhancing durability and modern appeal. Windows have been updated to improve energy efficiency and tenant comfort. The property includes separate utilities for each unit, as well as a separated basement, enhancing convenience and reducing owner expenses. Tenants are responsible for all utilities, plus landscaping and snow removal, making this a low-maintenance investment. The property is situated on a lot of 0.075 acres and has a property size of 1840 square feet. Given the strong rental demand in the area, there is potential to increase rents and maximize cash flow. The property is located in Erie, PA.

    Key Highlights

    • Fully occupied duplex with 2 units, each updated with luxury vinyl plank (LVP) flooring and energy‑efficiency windows
    • Unit 1: 2 bedrooms and 1 bathroom (first floor)
    • Unit 2: 3 bedrooms and 1 bathroom (second floor)

    Local 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 $21.4k $11.64
    − Vacancy −$857 −$0.47
    EGI $20.6k $11.17
    − OpEx −$9.3k −$5.03
    NOI $11.3k $6.15
    1,840 SF · lease $11.64/SF/yr · vacancy 4.00% · expense 45.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $180.5K
    $158.0K – $210.6K (±1% cap)
    NOI $12,638 @ 7.0% cap · market cap 9.37%
    Second Best
    Apartment 5plus
    $161.5K
    $141.4K – $188.5K (±1% cap)
    NOI $11,308 @ 7.0% cap · market cap 8.38%
    Theoretical Best
    Office A
    $456.5K
    $399.4K – $532.6K (±1% cap)
    NOI $31,954 @ 7.0% cap · market cap 23.69%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Spa & Massage Center Real Estate Agency Parking Lot & Garage Hair Salon Dental Office Food Market Grocery & Convenience Store Cafe & Coffee Shop Restaurant Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

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    FAQs

    What type of property is this?
    Duplex - Fully occupied duplex with income potential in Erie, Pennsylvania.
    Where is this duplex located?
    The property is located at 406 RASPBERRY Street Erie, PA.
    What is the asking price?
    The asking price for this property is $134,900.
    What are key features of this property?
    This property features: Fully occupied duplex with 2 units, each updated with luxury vinyl plank (LVP) flooring and energy‑efficiency windows; Unit 1: 2 bedrooms and 1 bathroom (first floor); Unit 2: 3 bedrooms and 1 bathroom (second floor)
    Contact an agent
    (814) 449-7973
    We can help!
    Contact an agent
    Jake Scheloske
    Real Estate License ID: RS318016
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