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Property profile & analytics
OFF-MARKET
Estimated value
$6,195,000
Garden apartment buildings
3929 38th St, Erie, PA 16506-4091
Individually Owned
11-yr Hold
~
Est. High Equity
Property ID
US73-2068521
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1991
Construction
WOOD
Total area
111,348 SF
Lot
4.38 ac (190,575 SF)
Zoning code
BB
APN
33-084-384.0-001.00
UPID
US73-2068521
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
-
St Vincent Home Care Services Home Health Care Service
-
Parkside At Westminster Retirement Community
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.17M
Blend (final)
Blend
$6.20M
Owner & transaction history
Millcreek Manor · 11 yrs held
Millcreek Manor
since 2015
4 recorded transactions
Zoning & alternative use
BB · 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
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
Blend value · Realmo final
$6.20M
Range $5.58M – $6.81M · ±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
$56 / 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
$107,628
Tax year 2023
Assessed value
$4,161,300
Assessed 2024
Previous assessed
$4,161,300
+0.0% YoY
Effective rate
2.59%
On assessed value
Assessed land
$571,700
Assessed improvement
$3,589,600
Land market value
$571,700
Improvement market value
$3,589,600
Total market value
$4,161,300
Applied tax rate
33.0000
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
1991
Construction
WOOD
Heating
NONE
Stories
6
Total area
111,348 SF
Lot
4.38 ac (190,575 SF)
Zoning code
BB
APN
33-084-384.0-001.00
UPID
US73-2068521
Jurisdiction
ERIE
Zoning & alternative use
BB · Erie, PA
Zoning BB · permitted uses
BB · 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
1991
Construction
WOOD
Heating
NONE
Stories
6
Lot
4.38 ac
Current owner
From public records · entity-resolved
Millcreek Manor
Individual
Mailing address
5535 PEACH ST, ERIE, PA 16509-2603
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 15, 2015
$4,321,184
Millcreek Manor
Parkside At Westminster
Warranty Deed
—
Mar 27, 2012
—
Parkside At Westminster
—
Deed Of Trust
related
$3,857,701 · Pnc Bank
Dec 21, 2007
—
Parkside At Westminster
—
Deed Of Trust
related
$5,000,000 · Pnc Bank
—
—
Parkside At Westminster
—
Deed Of Trust
related
$4,000,000 · 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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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