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Property profile & analytics
OFF-MARKET
Estimated value
$900,000
Garden apartment buildings
2150 8th St, Erie, PA 16505-4756
Individually Owned
16-yr Hold
~
Est. High Equity
Property ID
US73-5985664
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1950
Construction
WOOD
Total area
14,706 SF
Lot
0.43 ac (18,901 SF)
Zoning code
C1
APN
17-041-035.0-130.00
UPID
US73-5985664
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$954k
Blend (final)
Blend
$900k
Owner & transaction history
Bruce W Baldwin · 16 yrs held
Bruce W Baldwin
since 2010
3 recorded transactions
Zoning & alternative use
C1 · Erie, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.2M
+0.8%
Restaurant
$1.2M
+0.8%
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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,200,000
Current use
OFFICE BUILDING
$1,210,000
Change: +1% · Conversion: Moderate
RESTAURANT
$1,210,000
Change: +1% · Conversion: Difficult
RETAIL STORES
$1,100,000
Change: -8% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,020,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$900k
Range $810k – $990k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$61 / SF
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
$18,656
Tax year 2023
Assessed value
$490,400
Assessed 2024
Previous assessed
$490,400
+0.0% YoY
Effective rate
3.80%
On assessed value
Assessed land
$75,600
Assessed improvement
$414,800
Land market value
$75,600
Improvement market value
$414,800
Total market value
$490,400
Applied tax rate
17.0000
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1950
Construction
WOOD
Heating
NONE
Stories
3
Total area
14,706 SF
Lot
0.43 ac (18,901 SF)
Zoning code
C1
APN
17-041-035.0-130.00
UPID
US73-5985664
Jurisdiction
ERIE
Zoning & alternative use
C1 · Erie, PA
Zoning C1 · permitted uses
C1 · 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.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.2M
RESTAURANT
Est. value
$1.2M
RETAIL STORES
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.0M
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
RESTAURANT
RETAIL STORES
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1950
Construction
WOOD
Heating
NONE
Stories
3
Lot
0.43 ac
Current owner
From public records · entity-resolved
Bruce W Baldwin
Individual
Mailing address
5630 PEACH STA, ERIE, PA 16565
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 1, 2010
$41,128
Bruce W Baldwin
Baldwin,bruce W
Grant Deed
related
—
Jan 31, 2002
$420,000
Mha Partners
Colorado West Eight INC
Quit Claim Deed
related
$336,000 · National City Bank Pennsylvani
—
—
Mha Partners
—
Deed Of Trust
related
$70,000 · Eriebank
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
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