2710 Parade St · Erie, PA 16504

$95,000

3 bd · 1.5 ba · 1,344 sqft · SingleFamily public records · 21 Days on market

Built 1875 Est $156k · 39% under

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Why this score? — see what drove the C+ 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 +23.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +6.5/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Traditional Erie Home In A Neighborhood Business District. Updated Roof & Oak Kitchen, Pretty Natural Woodwork & 6 Bay Garage. (Also Listed As Commercial Property Mls #42548). Priced To Sell!

Key facts

• Unique setting
• Centrally located
• Zoned residential

Tags

• CENTRALLY LOCATED
• PUBLIC TRANSPORTATION
• ZONED RESIDENTIAL
• ZONED COMMERCIAL
• UNIQUE SETTING
• GARAGES

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $172 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $94k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 5.2% 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.
• Market conditions: 68 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 364 units permitted in Erie County in 2024 (188 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k 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.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y 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 $10k; list at $95k implies a 850% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1875 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $93,575 (1.5% below list)

Questions for the listing agent

1. Built in 1875 — 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: 1.15% ✓
• Cap rate: 8.46%
• Cash-on-cash: 7.74%
• DSCR: 1.34
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $155,904
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3114 Old French Rd	0.27mi	3/1.0	1,320 (-2%)	4mo	$152,000	$115	80
239 E 25th St	0.23mi	3/1.0	1,404 (+4%)	1mo	$77,500	$55	79
242 E 32 St	0.34mi	3/1.0	1,336 (-1%)	3mo	$75,201	$56	79
248 Maiden Ln	0.43mi	3/1.0	1,349 (+0%)	0mo	$175,950	$130	77
149 E 30th St	0.35mi	3/1.5	1,236 (-8%)	4mo	$143,500	$116	67
2521 Wayne St	0.56mi	3/1.0	1,360 (+1%)	4mo	$80,000	$59	67
749 E 32nd St	0.58mi	3/1.0	1,270 (-6%)	1mo	$181,000	$143	61
3216 French St	0.53mi	3/1.0	1,220 (-9%)	2mo	$175,000	$143	56
2607 Jackson Ave	0.59mi	3/1.0	1,478 (+10%)	3mo	$59,000	$40	52
347 E 35th St	0.52mi	3/1.0	1,176 (-12%)	2mo	$200,000	$170	52
361 E 35th St	0.52mi	3/1.0	1,176 (-12%)	3mo	$181,000	$154	51
2911 Wayne St	0.56mi	4/1.0 (+1)	1,495 (+11%)	4mo	$153,000	$102	45

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -4.5%
• Equity multiple: 0.83×
• Total profit: $-4,428
• Equity at exit: $14,165

10-year hold

• IRR: 5.3%
• Equity multiple: 1.39×
• Total profit: $10,374
• Equity at exit: $8,214

Cash invested: $26,600 (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 16504

• Home prices YoY: -17.9%
• Active inventory: 68
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,095 high
• Mortgage (P&I): −$498
• Tax from tax record: −$156 /mo · $1,867/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $172

Break-even live

Break-even rent $878

Max offer price $95,000

Occupancy floor 79%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
614 E 22nd St Unit 1 Erie, PA	3.0	1.0	1300	$1,000	$0.77	43d	1	0.46mi
115 W 32nd St Erie, PA	3.0	2.0	1844	$1,050	$0.57	43d	1	0.67mi
126 W 38th St Erie, PA	4.0	2.0	1850	$4,000	$2.16	43d	1	0.90mi
504 W 29th St Unit 2 Erie, PA	3.0	1.0	1200	$1,500	$1.25	43d	1	1.15mi
223 E 9th St Erie, PA	2.0	2.0	1564	$1,300	$0.83	43d	1	1.22mi
3603 Maple St Erie, PA	2.0	1.0	1200	$1,000	$0.83	43d	1	1.41mi
519 E 6th St Unit 3 Erie, PA	2.0	1.0	900	$775	$0.86	43d	1	1.43mi

Listing history 20 events

1. 2026-06-19
   days on market $95,000 Active 21 DOM
2. 2026-06-18
   days on market $95,000 Active 20 DOM
3. 2026-06-17
   days on market $95,000 Active 19 DOM
4. 2026-06-16
   days on market $95,000 Active 18 DOM
5. 2026-06-15
   days on market $95,000 Active 17 DOM
6. 2026-06-14
   days on market $95,000 Active 15 DOM
7. 2026-06-13
   days on market $95,000 Active 14 DOM
8. 2026-06-10
   days on market $95,000 Active 12 DOM
9. 2026-06-09
   days on market $95,000 Active 11 DOM
10. 2026-06-08
    days on market $95,000 Active 10 DOM
11. 2026-06-07
    days on market $95,000 Active 9 DOM
12. 2026-06-05
    days on market $95,000 Active 6 DOM
13. 2026-06-03
    days on market $95,000 Active 5 DOM
14. 2026-06-02
    days on market $95,000 Active 4 DOM
15. 2026-06-01
    days on market $95,000 Active 3 DOM
16. 2026-05-31
    days on market $95,000 Active 2 DOM
17. 2026-05-29
    listed $95,000 Active
18. 2015-04-29
    soldstatus $10,000 203-char remark

    Show marketing remark (203 chars)

    Traditional Erie Home In A Neighborhood Business District. Updated Roof & Oak Kitchen, Pretty Natural Woodwork & 6 Bay Garage. (Also Listed As Commercial Property Mls #42548). Priced To Sell!

19. 2015-02-12
    listed $25,000 203-char remark

    Show marketing remark (203 chars)

    Traditional Erie Home In A Neighborhood Business District. Updated Roof & Oak Kitchen, Pretty Natural Woodwork & 6 Bay Garage. (Also Listed As Commercial Property Mls #42548). Priced To Sell!

20. 2014-04-18
    listed $37,000

ⓘ 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: $1,867 · $156/mo
• Projected year-2 tax: $1,867 · $156/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 6/10 Major FEMA zone X (unshaded) · 74% 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: $13,138
• − Mortgage interest: −$5,321
• − Property taxes: −$1,867
• − Insurance: −$475
• − Repairs & maintenance: −$1,051
• − Management: −$1,051
• − Depreciation: −$2,764
• Taxable income: $609
• Est. tax owed @ 24.0%: −$146
• After-tax cash flow: $1,913/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
• City population: 92,215
• Population (ZIP): 15,632

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 (73%)
• Race & ethnicity: White 73% Two or more races 12% Black 10% Hispanic / Latino 6% Asian 3%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3%
• Common ancestry: Romanian 17% Subsaharan African 2% American 2%
• Foreign-born: 9% · Canada, India, China
• Languages at home: 88% English-only · Russian/Polish/Slavic 5% Spanish 3% Other Indo-European 3%

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: ▼ -56.54%
• Current HPI: 260.1053
• Rent YoY: —
• Metro: —
• 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

+156.8% since first listed

4 events — show timeline

• 2026-05-29 Listed $95,000 FSBO.com
• 2015-04-29 Sold (MLS) $10,000 GEBOR
• 2015-02-12 Listed $25,000 GEBOR
• 2014-04-18 Listed $37,000 GEBOR

Property tax history

+1.9%/yr

Latest (2026): $1,867 · +3.4% YoY. Source: county tax records.