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Property profile & analytics
OFF-MARKET
Estimated value
$860,000
Garden apartment buildings
4022 40th W 38th St, Erie, PA 16506
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US73-1241021
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1978
Construction
WOOD
Total area
10,080 SF
Lot
0.62 ac (26,998 SF)
Zoning code
DR
APN
33-063-356.0-009.00
UPID
US73-1241021
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
$835k
CAP Approach
CAP
$955k
Comparable Approach
Comparable
$576k
Blend (final)
Blend
$860k
Owner & transaction history
Three Sibs Capital LLC · 2 yrs held
Three Sibs Capital LLC
since 2023
Last sale
$875,000
1 recorded transaction
Zoning & alternative use
DR · 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
$860,000
ML approach
$835,000
CAP Approach
CAP Return
Estimation
6%
$1,035,000
6.5%
$955,000
7%
$885,000
Blend value · Realmo final
$860k
Range $774k – $946k · ±10% · vs last sale $875k (Dec 19 2023)
Last sale anchor
$875k
Dec 19 2023
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
$85 / 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
$15,412
Tax year 2023
Assessed value
$595,900
Assessed 2024
Previous assessed
$595,900
+0.0% YoY
Effective rate
2.59%
On assessed value
Assessed land
$81,000
Assessed improvement
$514,900
Land market value
$81,000
Improvement market value
$514,900
Total market value
$595,900
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
1978
Construction
WOOD
Heating
NONE
Stories
3
Total area
10,080 SF
Lot
0.62 ac (26,998 SF)
Zoning code
DR
APN
33-063-356.0-009.00
UPID
US73-1241021
Jurisdiction
ERIE
Zoning & alternative use
DR · Erie, PA
Zoning DR · permitted uses
DR · 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
1978
Construction
WOOD
Heating
NONE
Stories
3
Lot
0.62 ac
Current owner
From public records · entity-resolved
Three Sibs Capital LLC
Entity
Mailing address
2800 W 21ST ST, ERIE, PA 16506-2980
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 19, 2023
$875,000
Three Sibs Capital LLC
Sandra L Lombardozzi
Warranty Deed
$700,000 · Sandra Lombardozzi
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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