Well-Maintained Duplex With New
For Sale
$119,000
914 HESS Avenue, Erie, PA 16503
MULTI_FAMILY - Other - Erie, PA
Property Size1,496 SF
Lot Size0.07 Acres
Price / SF$79.55
Days on Market198
Property Features for 914 HESS Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R-1
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 4, Bedroom 3, Bedroom 1
Lot features
Flat
Elementary school district
City-Erie
Middle school district
City-Erie
High school district
City-Erie
Directions
Start at 12th St & State St and head east on E 12th St, Continue east until you reach Hess Ave,Turn right onto Hess Ave house will be on your left
Subdivision
1 - Erie Northeast
Standard status
Active
APN
15-020-049.0-103.00
Size
1,496 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1209
Expense value
5000
Expense
SecurityDeposit
Expense freq.
One Time
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1912
Floors in Building
2
Number of units
2
Building materials
VinylSiding
Roof type
Asphalt
Architectural style
Other
Listing Agency:
Agresti Real Estate
(814) 459-9400
Listed By:
Bob List · License #RS367057
(814) 504-8087
Added: Jan 16
Changed: Aug 2
Last Checked: Aug 2 at 1:06PM
MLS# 189336
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.
914 Hess Avenue in Erie, PA is a well-maintained duplex built in 1912, offering two separate units and flexible living or rental options. Each unit has two bedrooms, with bathrooms included in the unit layouts.
Recent updates include a new asphalt roof installed within the last year and newer vinyl siding, supporting lower exterior maintenance. The property includes natural gas forced-air heating, with public water and public sewer services.
Set on a 0.0669-acre lot, this duplex provides a straightforward two-unit configuration with practical utilities and durable exterior improvements.
Recent updates include a new asphalt roof installed within the last year and newer vinyl siding, supporting lower exterior maintenance. The property includes natural gas forced-air heating, with public water and public sewer services.
Set on a 0.0669-acre lot, this duplex provides a straightforward two-unit configuration with practical utilities and durable exterior improvements.
Key Highlights
- New asphalt roof installed within the last year
- Two separate units, each with two bedrooms
- 0.0669‑acre lot
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 8.64%
Second Best
Apartment 5plus
$131.3K
$114.9K – $153.2K
NOI $9,194 @ 7.0% cap · market cap 7.73%
Theoretical Best
Office A
$371.1K
$324.8K – $433.0K
NOI $25,980 @ 7.0% cap · market cap 21.83%
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
361
Businesses Nearby
Explore this area
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
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 - Well-maintained duplex with two separate units, each with two bedrooms, plus a roof installed within the last year.
Where is this duplex located?
The property is located at 914 HESS Avenue Erie, PA.
What is the asking price?
The asking price for this property is $119,000.
What are key features of this property?
This property features: New asphalt roof installed within the last year; Two separate units, each with two bedrooms; 0.0669‑acre lot
