Duplex with Two-Bedroom
For Sale
$147,000
520 E 2ND Street, Erie, PA 16507
MULTI_FAMILY - Other - Erie, PA
Property Size1,496 SF
Lot Size0.06 Acres
Price / SF$98.26
Days on Market421
Property Features for 520 E 2ND Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R-2
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 4, Bedroom 3, Bedroom 1
Elementary school district
City-Erie
Middle school district
City-Erie
High school district
City-Erie
Directions
from Parade St head east until you reach the property
Subdivision
1 - Erie Northeast
Standard status
Active
APN
14-010-054.0-108.00
Size
1,496 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
1079
Expense value
2000
Expense
SecurityDeposit
Expense freq.
One Time
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1917
Floors in Building
2
Number of units
2
Building materials
Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
Agresti Real Estate
(814) 459-9400
Listed By:
Dan Cruz · License #RS357852
(814) 460-0742
Added: Jun 12, 2025
Changed: Aug 2
Last Checked: Aug 6 at 6:06AM
MLS# 184250
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 frame duplex offers two-bedroom, one-bath accommodations in each unit. Both units are currently operating as AirBnB, providing an income-producing setup for an owner-operator or investor.
The property is located at 520 E 2nd Street in Erie, PA 16507. It sits on a 0.062-acre lot and contains 1,496 square feet of space. Built in 1917, the duplex has a composition roof and is served by public water and public sewer.
Comfort systems include natural gas forced-air heating and window unit(s) for cooling. The configuration includes bedrooms and bathrooms in each unit, supporting a straightforward two-bedroom rental layout.
The property is located at 520 E 2nd Street in Erie, PA 16507. It sits on a 0.062-acre lot and contains 1,496 square feet of space. Built in 1917, the duplex has a composition roof and is served by public water and public sewer.
Comfort systems include natural gas forced-air heating and window unit(s) for cooling. The configuration includes bedrooms and bathrooms in each unit, supporting a straightforward two-bedroom rental layout.
Key Highlights
- Two‑bedroom, one‑bath layout in each unit
- Both units currently operating as AirBnB rentals
- 0.062‑acre lot and 1,496 SF duplex
Financial Insights For Multifamily LT 5
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 | $15.3k | $10.20 |
| − Vacancy | −$580 | −$0.39 |
| EGI | $14.7k | $9.81 |
| − OpEx | −$4.4k | −$2.94 |
| NOI | $10.3k | $6.87 |
1,496 SF · lease $10.20/SF/yr · vacancy 3.80% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$146.8K
$128.5K – $171.3K
NOI $10,276 @ 7.0% cap · market cap 6.99%
Second Best
Apartment 5plus
$131.3K
$114.9K – $153.2K
NOI $9,194 @ 7.0% cap · market cap 6.25%
Theoretical Best
Office A
$371.1K
$324.8K – $433.0K
NOI $25,980 @ 7.0% cap · market cap 17.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
328
Businesses Nearby
Explore this area
Business Placement
Demographics for 16507, PA
9,429
Population
4,149
Households
2.3
Avg Household Size
31
Median Age
20%
College-Educated
88%
High-School Grad
2.1 sq mi
ZIP Area
4,490
Density / Sq Mi
$34,474
Median Household Income
$20,833
Median Earnings
$1,016
Median Rent
$66,300
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?
Duplex - Frame duplex featuring two-bedroom, one-bath units currently operating as AirBnB rentals.
Where is this duplex located?
The property is located at 520 E 2ND Street Erie, PA.
What is the asking price?
The asking price for this property is $147,000.
What are key features of this property?
This property features: Two‑bedroom, one‑bath layout in each unit; Both units currently operating as AirBnB rentals; 0.062‑acre lot and 1,496 SF duplex
