Two-Unit Residential
For Sale
$375,000
4916 W RIDGE Road, Erie, PA 16506
ResidentialIncome, Erie, PA
Property Size1,984 SF
Lot Size1.12 Acres
Price / SF$189.01
Days on Market47
Property Features for 4916 W RIDGE Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
M-2
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bedroom 5, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 4
Parking
6
Parking features
Garage
Lot features
Flat, Irregular Lot
Elementary school district
Millcreek
Middle school district
Millcreek
High school district
Millcreek
Directions
On the north side of W Ridge Rd (route 20) right next to Curaleaf.
Subdivision
5 - Millcreek N of W26
Standard status
Active
APN
33-042-230.1-016.00
Size
1,984 SF
Lot size
1.12 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3110
Expense value
10000
Expense
SecurityDeposit
Expense freq.
One Time
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1945
Number of units
2
Building materials
AluminumSiding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Agresti Real Estate
(814) 459-9400
Listed By:
Isaac Yurkewicz · License #RS333371
(814) 460-7538
Added: Sep 2
Changed: Oct 17
Last Checked: Oct 18 at 8:06AM
MLS# 192970
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.
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Investment Insights
Based on property information with market context.
This 1,984-square-foot duplex, built in 1945, contains two residential rental units on a 1.1246-acre parcel. The first-floor unit has been recently remodeled, while one tenant is already in place with guaranteed monthly payments. The property includes a garage, aluminum siding, an asphalt roof, natural-gas forced-air heat, window-unit cooling, public water, and public sewer.
Located at 4916 W Ridge Road in Erie, the property sits along the West Ridge Road corridor and carries MU-2 zoning in Millcreek Township. The zoning supports multifamily residential, retail, office, service, medical, commercial, and mixed-use development. The parcel is also offered jointly with 4912 W Ridge Road, providing an additional option for purchasers evaluating the surrounding property.
Located at 4916 W Ridge Road in Erie, the property sits along the West Ridge Road corridor and carries MU-2 zoning in Millcreek Township. The zoning supports multifamily residential, retail, office, service, medical, commercial, and mixed-use development. The parcel is also offered jointly with 4912 W Ridge Road, providing an additional option for purchasers evaluating the surrounding property.
Key Highlights
- Two‑unit residential rental property on 1.1246 acres
- 1,984 square feet; built in 1945
- MU‑2 zoning supports multifamily, retail, office, service, medical, commercial, and mixed‑use development
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,627
Cap Rate
3.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$272,540
$272.5K
Cap Rate 7%
$194,671
$194.7K
Cap Rate 9%
$151,411
$151.4K
Market Conditions
NOI Build-Up for 1,984 SF
Gross rent
$20.2K $10.20/SF
− Vacancy
−$769 −$0.39/SF
EGI
$19.5K $9.81/SF
− OpEx
−$5.8K −$2.94/SF
NOI
$13.6K $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%
$272,540
Cap Rate 7%
$194,671
Cap Rate 9%
$151,411
Alternative Uses
Best Use
Multifamily LT 5
$194.7K
$170.3K – $227.1K
NOI $13,627 @ 7.0% cap · market cap 3.63%
Second Best
Apartment 5plus
$174.2K
$152.4K – $203.2K
NOI $12,194 @ 7.0% cap · market cap 3.25%
Theoretical Best
Office A
$492.2K
$430.7K – $574.3K
NOI $34,455 @ 7.0% cap · market cap 9.19%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
269
Businesses Nearby
Explore this area
Business Placement
Demographics for 16506, PA
23,918
Population
10,309
Households
2.3
Avg Household Size
44
Median Age
39%
College-Educated
96%
High-School Grad
13.6 sq mi
ZIP Area
1,759
Density / Sq Mi
$84,021
Median Household Income
$47,823
Median Earnings
$1,176
Median Rent
$224,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Income-producing duplex with remodeled first-floor space and MU-2 zoning for varied future uses.
Where is this duplex located?
The property is located at 4916 W RIDGE Road Erie, PA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two‑unit residential rental property on 1.1246 acres; 1,984 square feet; built in 1945; MU‑2 zoning supports multifamily, retail, office, service, medical, commercial, and mixed‑use development
