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Property profile & analytics
FOR SALE
Investment properties
1213 W 38Th St Erie, PA 16508
Individually Owned
14-yr Hold
~
Est. High Equity
Property ID
US73-5451843
For Sale
1 / 26
$165,000
1213 W 38Th St, Erie, PA 16508
View Listing →
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1951
Construction
FRAME
Total area
1,075 SF
Lot
0.14 ac (6,251 SF)
Zoning code
RLB
APN
19-061-029.0-238.00
UPID
US73-5451843
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
M. Rallis Ph.D. Counseling Services Counselor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Michael Latzer · 14 yrs held
Michael Latzer
since 2012
6 recorded transactions
Zoning & alternative use
RLB · Erie, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Erie submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Erie submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$3,386
Tax year 2023
Assessed value
$89,000
Assessed 2024
Previous assessed
$89,000
+0.0% YoY
Effective rate
3.80%
On assessed value
Assessed land
$27,100
Assessed improvement
$61,900
Land market value
$27,100
Improvement market value
$61,900
Total market value
$89,000
Applied tax rate
19.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
For Sale
Year built
1951
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Rooms
6
Bathrooms
1
Total area
1,075 SF
Lot
0.14 ac (6,251 SF)
Zoning code
RLB
APN
19-061-029.0-238.00
UPID
US73-5451843
Jurisdiction
ERIE
Zoning & alternative use
RLB · Erie, PA
Zoning RLB · permitted uses
RLB · Erie, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Erie. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1951
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Rooms
6
Bathrooms
1
Lot
0.14 ac
Current owner
From public records · entity-resolved
Michael Latzer
Individual
Mailing address
12 ROBINSON ST, NORTH EAST, PA 16428-1111
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 1, 2012
$90,300
Michael Latzer
Arbogast,lindsay L
Warranty Deed
—
Aug 29, 2011
—
Lindsay L Arbogast
Groner,christopher M
Quit Claim Deed
related
—
Aug 29, 2008
$80,000
Christopher M Groner
Zewe,michael R & Beth A
Warranty Deed
$72,000 · Michael R & Beth A Zewe
—
—
Stacey R Crockett
—
Deed Of Trust
related
$14,113 · Erie Redevelopment Authority
—
—
Carla M Burrs
—
Deed Of Trust
related
$10,970 · Erie Redevelopment Authority
—
—
Michael R Zewe
—
Deed Of Trust
related
$65,000 · Pnc Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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