4213 Iroquois Ave · Lawrence Park, PA 16511

$149,900

4 bd · 1.0 ba · 1,208 sqft · MultiFamily public records · 2 Days on market

Built 1916 2,313 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Schools +4.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

This kitchen and remodel will knock your socks off ! Vinyl premium laminate that is waterproof is throughout the first floor. Tons of kitchen cabinets & counter space will delight any home owner! Fully applianced. Laundry room and 1/2 bath off kitchen with back door to fenced in private yard. 2nd floor bath is LARGE! 3 bedrooms on 2nd floor and gigantic finished bedroom on 3rd floor. Full basement plenty room for storage & Bilco door to backyard. New updates - come see!

Key facts

• Front porch
• Full basement
• First-floor laundry

Tags

• FRONT PORCH
• FIRST-FLOOR LAUNDRY
• REMODELED FULL BATH
• FENCED-IN YARD
• FULL BASEMENT

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $150k).

Location & tenants

• Location reads 84/100 on livability (#85 in PA, #632 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+.
• Iroquois SD (suburban): math 39% / reading 55% proficiency, ranked #236 of 539 in PA (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 48 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $1k of loan paydown is wiped out by about $4k 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 $42k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 5y 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 $100k; list at $150k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,900

Questions for the listing agent

1. Built in 1916 — 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. 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.
4. 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.
5. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.32% ✓
• Cap rate: 19.43%
• Cash-on-cash: 46.92%
• DSCR: 3.09
• GRM: 3.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 44.3%
• Equity multiple: 2.91×
• Total profit: $80,325
• Equity at exit: $22,351

10-year hold

• IRR: 50.2%
• Equity multiple: 5.88×
• Total profit: $204,923
• Equity at exit: $12,961

Cash invested: $41,972 (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 16511

• Home prices YoY: -24.9%
• Active inventory: 48
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $3,479 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$259 /mo · $3,106/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$731
• Net cashflow: $1,641

Break-even live

Break-even rent $1,402

Max offer price $149,900

Occupancy floor 48%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,480
Total (3 units)			$3,479

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1205 Priestley Ave Erie, PA	3.0	1.0	1000	$950	$0.95	43d	1	0.30mi

Listing history 8 events

1. 2026-04-27
   status Pending
2. 2026-04-24
   listed $149,900 Active
3. 2021-10-18
   soldstatus $99,900
4. 2021-10-15
   soldstatus $99,900 492-char remark

   Show marketing remark (492 chars)

   This kitchen and remodel will knock your socks off ! Vinyl premium laminate that is waterproof is throughout the first floor. Tons of kitchen cabinets & counter space will delight any home owner! Fully applianced. Laundry room and 1/2 bath off kitchen with back door to fenced in private yard. 2nd floor bath is LARGE! 3 bedrooms on 2nd floor and gigantic finished bedroom on 3rd floor. Full basement plenty room for storage & Bilco door to backyard. New updates - come see!

5. 2021-10-15
   soldstatus $99,900

   Show marketing remark (492 chars)

   This kitchen and remodel will knock your socks off ! Vinyl premium laminate that is waterproof is throughout the first floor. Tons of kitchen cabinets & counter space will delight any home owner! Fully applianced. Laundry room and 1/2 bath off kitchen with back door to fenced in private yard. 2nd floor bath is LARGE! 3 bedrooms on 2nd floor and gigantic finished bedroom on 3rd floor. Full basement plenty room for storage & Bilco door to backyard. New updates - come see!

6. 2021-07-21
   listed $99,900
7. 2021-07-20
   listed $99,900 492-char remark

   Show marketing remark (492 chars)

   This kitchen and remodel will knock your socks off ! Vinyl premium laminate that is waterproof is throughout the first floor. Tons of kitchen cabinets & counter space will delight any home owner! Fully applianced. Laundry room and 1/2 bath off kitchen with back door to fenced in private yard. 2nd floor bath is LARGE! 3 bedrooms on 2nd floor and gigantic finished bedroom on 3rd floor. Full basement plenty room for storage & Bilco door to backyard. New updates - come see!

8. 1977-10-17
   soldstatus $27,000

ⓘ 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: $3,106 · $259/mo
• Projected year-2 tax: $3,106 · $259/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥90°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,748
• − Mortgage interest: −$8,397
• − Property taxes: −$3,106
• − Insurance: −$750
• − Repairs & maintenance: −$3,340
• − Management: −$3,340
• − Depreciation: −$4,361
• Taxable income: $18,456
• Est. tax owed @ 24.0%: −$4,429
• After-tax cash flow: $15,263/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: Iroquois SD
• NCES district ID: 4212210
• Math proficiency: 39% ▼ -13.00%
• Reading proficiency: 55% ▼ -12.00%
• Median HH income: $50,338
• Composite: 40.27/100
• National rank: #3766
• State rank: #236 of 539 in PA

Livability — Lawrence Park

• Score: 84/100
• State rank: #85
• US rank: #632

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lawrence Park, PA
• Population (ZIP): 11,709

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 (80%)
• Race & ethnicity: White 80% Black 10% Hispanic / Latino 6% Two or more races 3% Asian 1%
• Hispanic origin (detail): Puerto Rican 5%
• Common ancestry: Romanian 11% Lithuanian 3% Scotch-Irish 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 3% Russian/Polish/Slavic 2%

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: ▼ -85.06%
• Current HPI: 256.8088
• 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

+455.2% since first listed

8 events — show timeline

• 2026-04-27 Pending — GEBOR
• 2026-04-24 Listed $149,900 GEBOR
• 2021-10-18 Sold (Public Records) $99,900 Public Records
• 2021-10-15 Sold (MLS) $99,900 West Penn MLS
• 2021-10-15 Sold (MLS) $99,900 GEBOR
• 2021-07-21 Listed $99,900 West Penn MLS
• 2021-07-20 Listed $99,900 GEBOR
• 1977-10-17 Sold (Public Records) $27,000 Public Records

Property tax history

+4.2%/yr

Latest (2026): $3,106 · +6.0% YoY. Source: county tax records.