1027 W 9th St · Erie, PA 16502

$152,100

3 bd · 1.0 ba · 2,006 sqft · SingleFamily public records · 24 Days on market

Built 1909 Est $166k · 9% under

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +26.2/30.0
• ARV discount +11.4/15.0
• DSCR +8.9/10.0
• 1% rule +7.6/10.0
• Livability +4.2/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This stately Foursquare delivers the kind of solid craftsmanship and timeless character that newer homes simply can't replicate. Original hardwood floors run throughout, and a wood-burning fireplace anchors the living room with warmth and authenticity that never goes out of style. Generous room sizes, a welcoming front porch, and thick walls that keep the world out make everyday living feel grounded and unhurried. Outside, mature trees shade a neighborhood where people put down roots and stay, close to everything, but a world away from the hustle. A rare find for buyers who want real character in a neighborhood with staying power.

Key facts

• Mature trees
• Garage
• Built 1909

Tags

• ORIGINAL HARDWOOD FLOORS
• WOOD BURNING FIREPLACE
• WELCOMING FRONT PORCH
• MATURE TREES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $152k.

Deal economics

• At list price, monthly cash flow is $390 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $152k).
• Recommended offer: $150k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 5.1% in Erie — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 83/100 on livability (#109 in PA, #840 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime D+, employment F.
• Erie City SD (urban): math 12% / reading 19% proficiency, ranked #510 of 539 in PA (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Northwest Pa Collegiate Academy (math 82%, 753 students, 100% FRL) — zoned schools average 100% FRL vs 81% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.0%/yr); 56 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 364 units permitted in Erie County in 2024 (188 in 5+ unit buildings).
• At $1,917/mo this rent would consume 60% of the median local household income ($39k/yr) (locally 1044% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Erie County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $110k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,818 (1.5% below list)

Questions for the listing agent

1. Built in 1909 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.26% ✓
• Cap rate: 9.37%
• Cash-on-cash: 10.98%
• DSCR: 1.49
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $166,498
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1153 W 10th St	0.21mi	3/1.5	1,812 (-10%)	2mo	$142,000	$78	71
1115 W 10th St	0.14mi	4/2.0 (+1)	2,126 (+6%)	7mo	$199,500	$94	69
1039 W 7th St	0.15mi	4/1.5 (+1)	1,872 (-7%)	8mo	$165,000	$88	68
1339 W 10th St	0.45mi	4/1.0 (+1)	2,078 (+4%)	5mo	$235,000	$113	64
633 W 10th St	0.42mi	4/1.0 (+1)	2,070 (+3%)	9mo	$50,000	$24	62
553 W 9th St	0.51mi	3/2.0	2,136 (+6%)	3mo	$87,000	$41	59
512 W 9th St	0.60mi	3/1.0	2,138 (+7%)	7mo	$100,000	$47	56
563 W 9th St	0.49mi	3/2.5	1,808 (-10%)	9mo	$200,000	$111	47
818 Washington Pl	0.37mi	4/2.5 (+1)	2,264 (+13%)	7mo	$170,000	$75	45
608 W 3rd St	0.67mi	4/2.5 (+1)	1,920 (-4%)	8mo	$159,000	$83	44
905 Walnut St	0.63mi	3/1.5	1,756 (-12%)	8mo	$135,000	$77	41
418 W 9th St	0.72mi	4/1.5 (+1)	1,742 (-13%)	1mo	$265,000	$152	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.97% rent growth · sell at horizon

5-year hold

• IRR: 0.1%
• Equity multiple: 1.00×
• Total profit: $195
• Equity at exit: $22,679

10-year hold

• IRR: 9.8%
• Equity multiple: 1.76×
• Total profit: $32,201
• Equity at exit: $13,151

Cash invested: $42,588 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Pennsylvania: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

10-day notice; Philadelphia has eviction-court diversion + some protections; otherwise moderate.

Methodology + full state rankings →

ZIP-level market 16502

• Home prices YoY: -30.5%
• Rents YoY: 3.0%
• Active inventory: 56
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,917 medium
• Mortgage (P&I): −$798
• Tax from tax record: −$264 /mo · $3,167/yr
• Insurance: −$63
• HOA: −$0
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $390

Break-even live

Break-even rent $1,424

Max offer price $152,100

Occupancy floor 75%

Sensitivity live

Price	-10% $476	-5% $433	+0% $390	+5% $347	+10% $304
Rent	-10% $238	-5% $314	+0% $390	+5% $466	+10% $541
Rate	-1.0pp $466	-0.5pp $428	base $390	+0.5pp $350	+1.0pp $310

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $38,025
• Closing costs: $4,563
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
729 W 9th St Erie, PA	4.0	2.0	1782	$3,000	$1.68	45d	1	0.30mi
538 W 8th St Unit 1 Erie, PA	3.0	1.0	2000	$1,650	$0.82	45d	1	0.57mi
1837 W 9th St Erie, PA	3.0	1.0	1450	$1,600	$1.10	45d	1	1.12mi
2702 Raspberry St Unit 1 Erie, PA	3.0	1.0	2000	$1,200	$0.60	45d	1	1.17mi

Listing history 24 events

1. 2026-06-21
   days on market $152,100 Active 24 DOM
2. 2026-06-19
   days on market $152,100 Active 22 DOM
3. 2026-06-18
   days on market $152,100 Active 21 DOM
4. 2026-06-17
   days on market $152,100 Active 20 DOM
5. 2026-06-16
   days on market $152,100 Active 19 DOM
6. 2026-06-15
   days on market $152,100 Active 18 DOM
7. 2026-06-14
   days on market $152,100 Active 16 DOM
8. 2026-06-13
   days on market $152,100 Active 15 DOM
9. 2026-06-10
   days on market $152,100 Active 13 DOM
10. 2026-06-09
    days on market $152,100 Active 12 DOM
11. 2026-06-08
    days on market $152,100 Active 11 DOM
12. 2026-06-07
    days on market $152,100 Active 10 DOM
13. 2026-06-05
    days on market $152,100 Active 7 DOM
14. 2026-06-03
    days on market $152,100 Active 6 DOM
15. 2026-06-02
    days on market $152,100 Active 5 DOM
16. 2026-06-01
    days on market $152,100 Active 4 DOM
17. 2026-05-31
    days on market $152,100 Active 3 DOM
18. 2026-05-30
    days on market $152,100 Active 2 DOM
19. 2026-05-16
    listed $152,100 Active 638-char remark

    Show marketing remark (638 chars)

    This stately Foursquare delivers the kind of solid craftsmanship and timeless character that newer homes simply can't replicate. Original hardwood floors run throughout, and a wood-burning fireplace anchors the living room with warmth and authenticity that never goes out of style. Generous room sizes, a welcoming front porch, and thick walls that keep the world out make everyday living feel grounded and unhurried. Outside, mature trees shade a neighborhood where people put down roots and stay, close to everything, but a world away from the hustle. A rare find for buyers who want real character in a neighborhood with staying power.

20. 2024-07-12
    soldstatus $109,900
21. 2024-07-09
    soldstatus $109,900 Closed 876-char remark

    Show marketing remark (876 chars)

    Step into this Brick Erie Home with so much space to offer. Walk into your covered front porch before entering into this foyer with original trim and doors. Here you’ll catch a glimpse of the hardwoods that flow up throughout the whole second story. You can take the utilitarian stairs straight back into the kitchen, or you can make your way through the living area to your right. You can separate the large dining room from the living with vintage pocket doors, and past the dining area you’ll find yourself back in the kitchen. Upstairs, you’ll find three large bedrooms, built-in storage in the hall, and a full bathoom with newly tiled walk in shower. Additionally, there is a walk up attic that could easily be converted for extra living space. This well loved home is ready for some new creative energy, come see for yourself what it all has to offer!

22. 2024-06-20
    status Pending 876-char remark

    Show marketing remark (876 chars)

    Step into this Brick Erie Home with so much space to offer. Walk into your covered front porch before entering into this foyer with original trim and doors. Here you’ll catch a glimpse of the hardwoods that flow up throughout the whole second story. You can take the utilitarian stairs straight back into the kitchen, or you can make your way through the living area to your right. You can separate the large dining room from the living with vintage pocket doors, and past the dining area you’ll find yourself back in the kitchen. Upstairs, you’ll find three large bedrooms, built-in storage in the hall, and a full bathoom with newly tiled walk in shower. Additionally, there is a walk up attic that could easily be converted for extra living space. This well loved home is ready for some new creative energy, come see for yourself what it all has to offer!

23. 2024-06-16
    listed $109,900 Active 876-char remark

    Show marketing remark (876 chars)

    Step into this Brick Erie Home with so much space to offer. Walk into your covered front porch before entering into this foyer with original trim and doors. Here you’ll catch a glimpse of the hardwoods that flow up throughout the whole second story. You can take the utilitarian stairs straight back into the kitchen, or you can make your way through the living area to your right. You can separate the large dining room from the living with vintage pocket doors, and past the dining area you’ll find yourself back in the kitchen. Upstairs, you’ll find three large bedrooms, built-in storage in the hall, and a full bathoom with newly tiled walk in shower. Additionally, there is a walk up attic that could easily be converted for extra living space. This well loved home is ready for some new creative energy, come see for yourself what it all has to offer!

24. 2002-11-05
    soldstatus $52,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast PA · Partial reset (capped growth)

• Current annual tax: $3,167 · $264/mo
• Projected year-2 tax: $3,167 · $264/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 17 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,009
• − Mortgage interest: −$8,520
• − Property taxes: −$3,167
• − Insurance: −$760
• − Repairs & maintenance: −$1,841
• − Management: −$1,841
• − Depreciation: −$4,425
• Taxable income: $2,455
• Est. tax owed @ 24.0%: −$589
• After-tax cash flow: $4,088/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Erie City SD
• NCES district ID: 4209300
• Math proficiency: 12% ▼ -11.00%
• Reading proficiency: 19% ▼ -16.00%
• Median HH income: $33,625
• Composite: 12.59/100
• National rank: #9617
• State rank: #510 of 539 in PA

Livability — Erie

• Score: 83/100
• State rank: #109
• US rank: #840

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime D+ Employment F Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Erie, PA
• County: Erie County · 92,215 people
• City population: 92,215
• Metro: Erie, PA
• Population (ZIP): 15,995
• Household income: $38,566
• Rent vs Own: 60.6% rent · 39.4% own
• Severe rent burden: 1044.0

Population outlook (Erie County) Hauer SSP2

• Today (2025): 272,159 people
• By 2030: 266,299 · -2.2%
• By 2040: 250,987 · -7.8%
• By 2050: 234,925 · -13.7%
• By 2075: 199,164 · -26.8%
• By 2100: 162,985 · -40.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Two or more races 16% Hispanic / Latino 13% Black 11% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 5%
• Common ancestry: Romanian 7% Serbian 2% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 89% English-only · Spanish 8% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Erie

• 2024 margin: Toss-up / Even · D 49.0% · R 50.0%
• 2008→2024 swing: -20.9pp toward R · 2008: 19.9pp · 2024: -1.0pp
• All cycles: 2024: R+1.0 2020: D+1.0 2016: R+2.0 2012: D+16.9 2008: D+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -92.73%
• Current HPI: 211.4408
• Rent YoY: ▲ 2.97%
• Metro: Erie, PA
• State GDP YoY: ▲ 1.68%
• F500 in state: 34

Industry mix (Fortune 500 HQ in PA)

Industry	F500 HQs	Revenue
▸Healthcare	2	$309B
▸Insurance	2	$27B
▸Telecommunications / Media	1	$124B
▸Industrial Distribution	1	$22B
▸Financial Services	1	$20B
▸Chemicals / Materials	1	$18B

Price history

+192.5% since first listed

7 events — show timeline

• 2026-05-19 Listed $152,100 Fizber.com
• 2026-05-16 Listed $152,100 FSBO.com
• 2024-07-12 Sold (Public Records) $109,900 Public Records
• 2024-07-09 Sold (MLS) $109,900 GEBOR
• 2024-06-20 Pending — GEBOR
• 2024-06-16 Listed $109,900 GEBOR
• 2002-11-05 Sold (Public Records) $52,000 Public Records

Property tax history

+1.9%/yr

Latest (2026): $3,167 · +3.4% YoY. Source: county tax records.