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Property profile & analytics
OFF-MARKET
Estimated value
$855,000
Garden apartment buildings
4031 Lancaster Rd 4041, Erie, PA 16506-5344
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US73-3883734
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2002
Construction
FRAME
Total area
6,144 SF
Lot
0.35 ac (15,124 SF)
Zoning code
AR
APN
33-082-414.1-001.42
UPID
US73-3883734
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
$875k
CAP Approach
CAP
$580k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$855k
Owner & transaction history
Freedom Sky Real Estate LLC · 3 yrs held
Freedom Sky Real Estate LLC
since 2023
Last sale
$850,000
7 recorded transactions
Zoning & alternative use
AR · 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
$835,000
ML approach
$875,000
CAP Approach
CAP Return
Estimation
6%
$630,000
6.5%
$580,000
7%
$540,000
Blend value · Realmo final
$855k
Range $770k – $941k · ±10% · vs last sale $850k (Feb 27 2023)
Last sale anchor
$850k
Feb 27 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
$139 / 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
$5,367
Tax year 2023
Assessed value
$207,500
Assessed 2024
Previous assessed
$207,500
+0.0% YoY
Effective rate
2.59%
On assessed value
Assessed land
$37,800
Assessed improvement
$169,700
Land market value
$37,800
Improvement market value
$169,700
Total market value
$207,500
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
2002
Construction
FRAME
Heating
NONE
Stories
2
Total area
6,144 SF
Lot
0.35 ac (15,124 SF)
Zoning code
AR
APN
33-082-414.1-001.42
UPID
US73-3883734
Jurisdiction
ERIE
Zoning & alternative use
AR · Erie, PA
Zoning AR · permitted uses
AR · 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
2002
Construction
FRAME
Heating
NONE
Stories
2
Lot
0.35 ac
Current owner
From public records · entity-resolved
Freedom Sky Real Estate LLC
Entity
Mailing address
PO BOX 8008, ERIE, PA 16505-0008
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 27, 2023
$850,000
Freedom Sky Real Estate LLC
Nicolas C Montagna
Warranty Deed
$637,500 · Mercer County State Bank
Aug 15, 2017
—
Nicolas C Montagna
Montagna,nicolas C
Quit Claim Deed
related
—
Jul 14, 2017
—
Nicolas C Montagna
—
Deed
related
$468,750 · Velocity Com'l Cap
Jul 11, 2017
—
Nicolas C Montagna
Montagna,nicolas C
Quit Claim Deed
related
—
Dec 29, 2014
—
Nicolas C|silvis Maria F Montagna
Montagna Nicolas C
Quit Claim Deed
related
—
Jul 9, 2014
—
Montagna,nicolas C
Montagna,nicholas C
Quit Claim Deed
related
$427,000 · Velocity Com'l Cap
—
—
Nicolas C Montagna
—
Deed Of Trust
related
$468,750 · Velocity Com'l Cap
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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