Renovated Two-Unit
519 8th St, Erie, PA 16503
For Sale
$230,000
Two updated apartments offer three bedrooms each, private outdoor space, and a two-car garage.
Property Size2,736 SF
Price / SF$84.06
Days on Market183
Property Features for 519 8th St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Utilities to Site
Taxes and HOA fees
Annual Taxes
Amenities
private backyard with stone pathway
Building Details
Buildings
Listing Agency:
Howard Hanna Erie Airport
(814) 833-1000
Listed By:
Sandra Jarecki
(814) 450-1886
Source:
Exprealty
Added: May 14
Changed: Oct 26
Last Checked: Nov 12 at 1:52PM
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 Howard Hanna Erie Airport
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Investment Insights
Based on property information with market context.
This duplex at 519 8th St in Erie, PA contains two three-bedroom apartments within 2,736 square feet. Both units have recently renovated kitchens and bathrooms, along with new windows, flooring, fresh interior paint, and cabinetry with self-closing drawers. Recessed kitchen lighting and an upgraded electrical system add to the functional improvements while retaining select older architectural character.
The property also includes a private backyard with a stone pathway and a two-car garage. The two-unit configuration provides separate apartment space within a single residential income property, with each unit offering the same three-bedroom layout and updated finishes.
The property also includes a private backyard with a stone pathway and a two-car garage. The two-unit configuration provides separate apartment space within a single residential income property, with each unit offering the same three-bedroom layout and updated finishes.
Key Highlights
- Two three‑bedroom apartments within 2,736 SF
- Recently renovated kitchens and bathrooms in both units
- New windows, flooring, paint, and self‑closing cabinetry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,793
Cap Rate
8.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$375,860
$375.9K
Cap Rate 7%
$268,471
$268.5K
Cap Rate 9%
$208,811
$208.8K
Market Conditions
NOI Build-Up for 2,736 SF
Gross rent
$27.9K $10.20/SF
− Vacancy
−$1.1K −$0.39/SF
EGI
$26.8K $9.81/SF
− OpEx
−$8.1K −$2.94/SF
NOI
$18.8K $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%
$375,860
Cap Rate 7%
$268,471
Cap Rate 9%
$208,811
Alternative Uses
Best Use
Multifamily LT 5
$268.5K
$234.9K – $313.2K
NOI $18,793 @ 7.0% cap · market cap 8.17%
Second Best
Apartment 5plus
$240.2K
$210.2K – $280.3K
NOI $16,815 @ 7.0% cap · market cap 7.31%
Theoretical Best
Office A
$678.8K
$593.9K – $791.9K
NOI $47,514 @ 7.0% cap · market cap 20.66%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,334
Businesses Nearby
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Business Placement
Demographics for 16503, PA
15,328
Population
6,375
Households
2.4
Avg Household Size
33
Median Age
12%
College-Educated
76%
High-School Grad
2.4 sq mi
ZIP Area
6,387
Density / Sq Mi
$29,108
Median Household Income
$25,679
Median Earnings
$837
Median Rent
$55,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Erie, PA
Properties on Market for Duplexes in Erie
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two updated apartments offer three bedrooms each, private outdoor space, and a two-car garage.
Where is this duplex located?
The property is located at 519 8th St Erie, PA.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Two three‑bedroom apartments within 2,736 SF; Recently renovated kitchens and bathrooms in both units; New windows, flooring, paint, and self‑closing cabinetry
