213 E 34th St · Erie, PA 16504

$160,000

3 bd · 2.0 ba · 1,475 sqft · SingleFamily public records · 3 Days on market

Built 1928 4,487 sqft lot Est $173k · 7% 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 +28.7/30.0
• ARV discount +10.8/15.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• 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

Adorable Dollhouse Of A Home Boasts Tremendous Mbr Retreat W/ Elect Fp, Sitting Area & Full Ba's. This Hm Is Loc W/ In 2 Blks Of Schools & Va Hospital. French Doors, Tons Of Charm, 2 Full Baths, 2-Car Garage, Heated Kennel W/ Fenced Dog Run & Fenced Back Yard All Located In A Beautiful Erie Neighbrhd Near Schls/Amen. Hh Mbg Avail!

Key facts

• Covered porch
• Fenced yard
• Updated roof

Tags

• UPDATED ROOF
• FENCED YARD
• COVERED PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $531 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Cap rate 10.3% 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; 6 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 $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 $45k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 $118k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $160,000

Questions for the listing agent

1. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.43% ✓
• Cap rate: 10.28%
• Cash-on-cash: 14.23%
• DSCR: 1.63
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $172,575
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3729 State St	0.28mi	4/2.0 (+1)	1,461 (-1%)	1mo	$241,000	$165	79
248 Maiden Ln	0.09mi	3/1.0	1,349 (-8%)	0mo	$175,950	$130	77
3711 State St	0.25mi	3/2.5	1,600 (+8%)	0mo	$282,500	$177	72
242 E 32 St	0.19mi	3/1.0	1,336 (-9%)	3mo	$75,201	$56	69
3831 Sassafras St	0.49mi	3/1.5	1,424 (-4%)	4mo	$250,000	$176	66
3848 Eliot Rd	0.59mi	3/1.5	1,440 (-2%)	2mo	$255,000	$177	65
4003 Old French Rd	0.38mi	3/1.5	1,584 (+7%)	4mo	$185,000	$117	64
3114 Old French Rd	0.26mi	3/1.0	1,320 (-10%)	4mo	$152,000	$115	63
239 E 25th St	0.62mi	3/1.0	1,404 (-5%)	1mo	$77,500	$55	59
3025 Pine Ave	0.44mi	3/2.0	1,674 (+14%)	4mo	$105,000	$63	54
333 W 31 St	0.72mi	3/1.0	1,584 (+7%)	1mo	$95,000	$60	49
329 Metz St	0.67mi	3/1.0	1,330 (-10%)	4mo	$149,900	$113	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: 4.6%
• Equity multiple: 1.18×
• Total profit: $8,044
• Equity at exit: $23,857

10-year hold

• IRR: 14.2%
• Equity multiple: 2.14×
• Total profit: $51,145
• Equity at exit: $13,834

Cash invested: $44,800 (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: 5.8×

Monthly cashflow live

• Estimated rent: $2,296 high
• Mortgage (P&I): −$839
• Tax from tax record: −$377 /mo · $4,520/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$482
• Net cashflow: $531

Break-even live

Break-even rent $1,623

Max offer price $160,000

Occupancy floor 72%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
115 W 32nd St Erie, PA	3.0	2.0	1844	$1,050	$0.57	44d	1	0.41mi
126 W 38th St Erie, PA	4.0	2.0	1850	$4,000	$2.16	44d	1	0.41mi
504 W 29th St Unit 2 Erie, PA	3.0	1.0	1200	$1,500	$1.25	44d	1	0.99mi
614 E 22nd St Unit 1 Erie, PA	3.0	1.0	1300	$1,000	$0.77	44d	1	1.00mi
3603 Maple St Erie, PA	2.0	1.0	1200	$1,000	$0.83	44d	1	1.05mi
811 W 30th St Unit 1 Erie, PA	2.0	1.0	900	$1,175	$1.31	44d	1	1.31mi

Listing history 10 events

1. 2026-03-30
   status Pending
2. 2026-03-26
   listed $160,000 Active
3. 2018-03-22
   listed $118,000
4. 2014-06-25
   soldstatus $118,500
5. 2014-06-23
   soldstatus $118,500 350-char remark

   Show marketing remark (350 chars)

   Adorable Dollhouse Of A Home Boasts Tremendous Mbr Retreat W/ Elect Fp, Sitting Area & Full Ba's. This Hm Is Loc W/ In 2 Blks Of Schools & Va Hospital. French Doors, Tons Of Charm, 2 Full Baths, 2-Car Garage, Heated Kennel W/ Fenced Dog Run & Fenced Back Yard All Located In A Beautiful Erie Neighbrhd Near Schls/Amen. Hh Mbg Avail!

6. 2014-05-05
   listed $120,000 350-char remark

   Show marketing remark (350 chars)

   Adorable Dollhouse Of A Home Boasts Tremendous Mbr Retreat W/ Elect Fp, Sitting Area & Full Ba's. This Hm Is Loc W/ In 2 Blks Of Schools & Va Hospital. French Doors, Tons Of Charm, 2 Full Baths, 2-Car Garage, Heated Kennel W/ Fenced Dog Run & Fenced Back Yard All Located In A Beautiful Erie Neighbrhd Near Schls/Amen. Hh Mbg Avail!

7. 2011-02-09
   soldstatus $114,500
8. 2011-02-09
   soldstatus $114,500
9. 2001-08-16
   soldstatus $72,000
10. 1986-12-04
    soldstatus $33,500

ⓘ 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: $4,520 · $377/mo
• Projected year-2 tax: $4,520 · $377/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 2/10 Low 7 d/yr ≥89°F today · 16 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: $27,547
• − Mortgage interest: −$8,962
• − Property taxes: −$4,520
• − Insurance: −$800
• − Repairs & maintenance: −$2,204
• − Management: −$2,204
• − Depreciation: −$4,655
• Taxable income: $4,203
• Est. tax owed @ 24.0%: −$1,009
• After-tax cash flow: $5,365/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

+377.6% since first listed

10 events — show timeline

• 2026-03-30 Pending — GEBOR
• 2026-03-26 Listed $160,000 GEBOR
• 2018-03-22 Listed $118,000 GEBOR
• 2014-06-25 Sold (Public Records) $118,500 Public Records
• 2014-06-23 Sold (MLS) $118,500 GEBOR
• 2014-05-05 Listed $120,000 GEBOR
• 2011-02-09 Sold (Public Records) $114,500 Public Records
• 2011-02-09 Sold (Public Records) $114,500 Public Records
• 2001-08-16 Sold (Public Records) $72,000 Public Records
• 1986-12-04 Sold (Public Records) $33,500 Public Records

Property tax history

+1.9%/yr

Latest (2026): $4,520 · +3.4% YoY. Source: county tax records.