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    Property profile & analytics

    502 7th St Erie, PA 16502-1333

    • Investment properties
    • 5,950 SF
    • 0.31 lot acres
    OFF-MARKET
    Value Estimation
    $305,000
    Last Sale
    Jul 06, 2023
    $300,000
    Location Intelligence
    Property ID
    US73-0473567
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Top Nation Entertainment llc / Record Company
    • MP2 Placidi & Parini / Bankruptcy Attorney / Divorce Lawyer
    • Business Group 888 / Marketing Consultant
    • Legendary Luxe Enterprises LLC / Property Management Company
    • Jumpto1 - Search Engine Optimization SEO AGENCY / Marketing Consultant / Design Agency

    Property Details for 502 7th St

    Year built
    1918
    Construction
    WOOD
    Lot size
    0.31 lot acres
    Property size
    5,950 SF
    Zone code
    R2
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    17-040-016.0-200.00
    APU
    17040016020000

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $295,000

    • CAP approach

      CAP return
      Estimation
      6%
      $295,000
      6.5%
      $330,000
      7%
      $295,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $265,000
      Geo Method
      $340,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $375,000
      Retail
      $365,000
      Mixed-Use
      $335,000
      Hospitality
      $375,000
      Educational
      $315,000
      Residential Income
      $375,000
      Energy
      $340,000
      Income-Based Land
      $370,000
      Food Service
      $315,000

    Location Insight

    • Map
    • Local Demand
    City
    Erie
    County
    Erie
    State
    Pennsylvania
    Longitude
    -80.0959
    Latitude
    42.1246
    CBSA code
    21500
    CBSA name
    ERIE, PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $6,536
    $20,400
    $151,400
    $171,800
    -
    $20,400
    $151,400
    $171,800

    Comparable in this City

    • Value Estimation
      $45,000
      2,800 SF

      1020 Brown Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,800 SF
      1020 Brown Ave, Erie, PA 16502-2431
      View Details
    • Value Estimation
      $215,000
      4,758 SF

      401 10th St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,758 SF
      401 10th St, Erie, PA 16502
      View Details
    • Value Estimation
      $305,000
      8,288 SF

      146 25th St

      OFFICE/RESIDENTIAL (MIXED USE) • 8,288 SF
      146 25th St, Erie, PA 16502-2811
      View Details
    • Value Estimation
      $380,000
      7,042 SF

      605 8th St

      OFFICE/RESIDENTIAL (MIXED USE) • 7,042 SF
      605 8th St, Erie, PA 16502-1289
      View Details
    • Value Estimation
      $80,000
      3,024 SF

      418 18th St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,024 SF
      418 18th St, Erie, PA 16502-3714
      View Details
    • Value Estimation by Request
      11,568 SF

      435 10th St

      OFFICE/RESIDENTIAL (MIXED USE) • 11,568 SF
      435 10th St, Erie, PA 16502-1378
      View Details

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    502 7th St
    Erie, PA 16502-1333
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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