1920 Cascade St · Erie, PA 16502

$59,900

2 bd · 1.5 ba · 1,400 sqft · SingleFamily public records · 51 Days on market

Built 1882 3,877 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
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Come check out this single family home currently tenant occupied. Are you looking to buy and collect rent or owner occupy? Don't miss this one for a great price.

Key facts

• 3,877 sq ft lot
• Built 1882
• Listed 51 days

Property features AI

Finance

• Other: Zoning: R-1

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories; Residential property
• Construction: Composition roof; Asphalt construction material
• Exterior features: Level lot; Paved road access

Interior

• Kitchen: Electric oven; Electric range; Refrigerator
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Electric oven and electric range; Refrigerator; Carpet and laminate flooring; Full basement

🏷️ Possibly a rental listed for sale. The $59,900 price doesn't fit this home's estimated sale value (~$137,200) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $402 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.4% 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: Rents rising (+3.0%/yr); 56 active listings in the ZIP; 11 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; lower-income renter base — watch delinquency; 364 units permitted in Erie County in 2024 (188 in 5+ unit buildings).
• This rent runs 36% of the median local income ($39k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1882 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1882 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.94% ✓
• Cap rate: 14.36%
• Cash-on-cash: 28.80%
• DSCR: 2.28
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $137,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1053 W 20th St	0.11mi	3/2.0 (+1)	1,526 (+9%)	1mo	$150,000	$98	73
1617 Liberty St	0.30mi	3/1.0 (+1)	1,332 (-5%)	1mo	$76,000	$57	70
1117 W 21st St	0.21mi	3/1.0 (+1)	1,246 (-11%)	1mo	$118,900	$95	64
1145 W 25th St	0.42mi	3/1.0 (+1)	1,320 (-6%)	2mo	$130,000	$98	62
518 W 19th St	0.54mi	3/1.0 (+1)	1,472 (+5%)	1mo	$109,900	$75	58
933 W 27th St	0.49mi	3/1.5 (+1)	1,504 (+7%)	2mo	$132,500	$88	58
2905 Plum St	0.64mi	3/2.0 (+1)	1,332 (-5%)	3mo	$151,000	$113	53
1229 Brown Ave	0.45mi	3/1.0 (+1)	1,248 (-11%)	2mo	$51,500	$41	52
1021 W 29th St	0.61mi	3/2.0 (+1)	1,254 (-10%)	1mo	$145,000	$116	46
2618 Hazel St	0.56mi	3/1.0 (+1)	1,226 (-12%)	1mo	$123,450	$101	45
1054 W 11th	0.58mi	3/3.0 (+1)	1,544 (+10%)	3mo	$64,600	$42	43
2946 Poplar St	0.74mi	3/1.0 (+1)	1,254 (-10%)	1mo	$172,000	$137	40

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: 23.2%
• Equity multiple: 1.95×
• Total profit: $15,974
• Equity at exit: $8,931

10-year hold

• IRR: 31.1%
• Equity multiple: 3.81×
• Total profit: $47,103
• Equity at exit: $5,179

Cash invested: $16,772 (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: 4.3×

Monthly cashflow live

• Estimated rent: $1,163 high
• Mortgage (P&I): −$314
• Tax from tax record: −$177 /mo · $2,129/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $402

Break-even live

Break-even rent $654

Max offer price $59,900

Occupancy floor 60%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1610 Poplar St Unit Downstairs Erie, PA	3.0	1.0	1200	$875	$0.73	44d	1	0.32mi
1022 W 30th St Unit 2 Erie, PA	2.0	1.0	1000	$850	$0.85	44d	1	0.68mi
811 W 30th St Unit 1 Erie, PA	2.0	1.0	900	$1,175	$1.31	44d	1	0.72mi
504 W 29th St Unit 2 Erie, PA	3.0	1.0	1200	$1,500	$1.25	44d	1	0.82mi
1164 W 7th St Erie, PA	3.0	1.0	1248	$1,600	$1.28	44d	1	0.89mi
1257 W 6th St Erie, PA	2.0	1.0	1100	$1,350	$1.23	44d	1	0.99mi
446 W 6th St Unit 1 Erie, PA	1.0	1.0	1160	$2,260	$1.95	44d	1	1.11mi
305 Cascade St Unit 305 Erie, PA	2.0	1.0	1000	$900	$0.90	44d	1	1.12mi
3603 Maple St Erie, PA	2.0	1.0	1200	$1,000	$0.83	44d	1	1.15mi
115 W 32nd St Erie, PA	3.0	2.0	1844	$1,050	$0.57	44d	1	1.36mi
1837 W 9th St Erie, PA	3.0	1.0	1450	$1,600	$1.10	44d	1	1.38mi

Listing history 13 events

1. 2026-06-08
   status $59,900 Pending 51 DOM
2. 2026-06-07
   days on market $59,900 Active 51 DOM
3. 2026-06-05
   days on market $59,900 Active 48 DOM
4. 2026-06-03
   days on market $59,900 Active 47 DOM
5. 2026-06-02
   days on market $59,900 Active 46 DOM
6. 2026-06-01
   days on market $59,900 Active 45 DOM
7. 2026-05-31
   days on market $59,900 Active 44 DOM
8. 2026-05-30
   days on market $59,900 Active 43 DOM
9. 2026-05-20
   status Active
10. 2026-01-29
    listed $59,900 Active
11. 2024-02-05
    soldstatus $55,000
12. 2012-10-02
    soldstatus $50,900
13. 2010-03-31
    soldstatus $9,000

ⓘ 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: $2,129 · $177/mo
• Projected year-2 tax: $2,129 · $177/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 · 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: $13,960
• − Mortgage interest: −$3,355
• − Property taxes: −$2,129
• − Insurance: −$300
• − Repairs & maintenance: −$1,117
• − Management: −$1,117
• − Depreciation: −$1,743
• Taxable income: $4,200
• Est. tax owed @ 24.0%: −$1,008
• After-tax cash flow: $3,822/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

+565.6% since first listed

5 events — show timeline

• 2026-05-20 Relisted — GEBOR
• 2026-01-29 Listed $59,900 GEBOR
• 2024-02-05 Sold (Public Records) $55,000 Public Records
• 2012-10-02 Sold (Public Records) $50,900 Public Records
• 2010-03-31 Sold (Public Records) $9,000 Public Records

Property tax history

+1.9%/yr

Latest (2026): $2,129 · +3.4% YoY. Source: county tax records.