917-19 W 10 St · Erie, PA 16502

$225,000

8 bd · 3.0 ba · 3,537 sqft · MultiFamily public records · 4 Days on market

Built 1911

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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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Spacious brick triplex offering strong income potential and classic charm! This well-maintained property features a welcoming covered front porch, enclosed second floor balcony, detached 2 car garage, and three spacious units with excellent rental history. The second and third floor apartments have been extensively updated and offer large living spaces, modern finishes, and attractive layouts that tenants love. The lower level apartment is currently occupied by a long term tenant, providing immediate and stable rental income. Additional highlights include separate living areas, ample storage, solid brick construction, and off street parking. Whether you’re looking to expand your investment portfolio or live in one unit while generating rental income from the others, this property presents an outstanding opportunity. Brand new metal roof!! See attachments for recent updates.

Key facts

• Covered front porch
• Extensively updated
• Modern finishes

Tags

• COVERED FRONT PORCH
• ENCLOSED SECOND FLOOR BALCONY
• DETACHED 2 CAR GARAGE
• EXTENSIVELY UPDATED
• LARGE LIVING SPACES
• MODERN FINISHES

Property features AI

Finance

• Financial info: Income-producing property with three units reporting rents: $1,225; $525; $950

Exterior

• Parking: Detached garage; Two garage spaces
• Utilities: Public water; Public sewer
• Home design: Residential income property (triplex); Triplex structure
• Construction: Brick and vinyl siding construction
• Exterior features: Level lot; Paved road; Metal roof

Interior

• Kitchen: Range/oven; Refrigerator; Dishwasher
• Bedrooms: Two-bedroom units (two units); One one-bedroom unit
• Bathrooms: One bathroom in each unit
• Heating & cooling: Forced air heating; Window air conditioning units
• Interior features: Balcony/porch; Basement tenant use; Fireplace; Laundry facilities; Range/oven; Refrigerator; Dishwasher
• Laundry & utility: On-site laundry

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/3.0-bath units multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $565/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $225k).
• Cap rate 15.3% 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: Rents rising (+3.0%/yr); 56 active listings in the ZIP; lower-income renter base — watch delinquency; 364 units permitted in Erie County in 2024 (188 in 5+ unit buildings).
• At $4,175/mo this rent would consume 130% 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 $2k of loan paydown is wiped out by about $7k 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 $63k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 13y 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 $120k; list at $225k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1911 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $225,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1911 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.86% ✓
• Cap rate: 15.34%
• Cash-on-cash: 32.31%
• DSCR: 2.44
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $134,406
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1013 W 10th St	0.13mi	7/3.0 (-1)	3,522 (-0%)	15mo	$135,000	$38	76
1128 W 5th St	0.51mi	8/4.0	3,960 (+12%)	16mo	$137,000	$35	39
349-53 W 9th St	0.64mi	8/2.0	3,040 (-14%)	13mo	$160,000	$53	32

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: 27.3%
• Equity multiple: 2.14×
• Total profit: $71,553
• Equity at exit: $33,548

10-year hold

• IRR: 34.9%
• Equity multiple: 4.20×
• Total profit: $201,291
• Equity at exit: $19,454

Cash invested: $63,000 (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: 13.5×

Monthly cashflow live

• Estimated rent: $4,175 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$328 /mo · $3,938/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$877
• Net cashflow: $1,696

Break-even live

Break-even rent $2,028

Max offer price $225,000

Occupancy floor 54%

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

Units	Beds	Baths	Est. rent
▸ 3× units	5	3	$4,176
Total (3 units)			$4,175

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-14
   listed $225,000 Active 891-char remark

   Show marketing remark (892 chars)

   Spacious brick triplex offering strong income potential and classic charm! This well-maintained property features a welcoming covered front porch, enclosed second floor balcony, detached 2 car garage, and three spacious units with excellent rental history. The second and third floor apartments have been extensively updated and offer large living spaces, modern finishes, and attractive layouts that tenants love. The lower level apartment is currently occupied by a long term tenant, providing immediate and stable rental income. Additional highlights include separate living areas, ample storage, solid brick construction, and off street parking. Whether you’re looking to expand your investment portfolio or live in one unit while generating rental income from the others, this property presents an outstanding opportunity. Brand new metal roof!! See attachments for recent updates.

2. 2026-05-14
   listed $225,000 Active 892-char remark

   Show marketing remark (892 chars)

   Spacious brick triplex offering strong income potential and classic charm! This well-maintained property features a welcoming covered front porch, enclosed second floor balcony, detached 2 car garage, and three spacious units with excellent rental history. The second and third floor apartments have been extensively updated and offer large living spaces, modern finishes, and attractive layouts that tenants love. The lower level apartment is currently occupied by a long term tenant, providing immediate and stable rental income. Additional highlights include separate living areas, ample storage, solid brick construction, and off street parking. Whether you’re looking to expand your investment portfolio or live in one unit while generating rental income from the others, this property presents an outstanding opportunity. Brand new metal roof!! See attachments for recent updates.

3. 2014-06-11
   soldstatus $120,000
4. 2014-06-10
   soldstatus $120,000
5. 2014-03-21
   listed $125,000
6. 2013-10-04
   listed $132,000
7. 1995-08-24
   soldstatus $60,900
8. 1978-09-15
   soldstatus $41,000

ⓘ 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: $3,938 · $328/mo
• Projected year-2 tax: $3,938 · $328/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 ≥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: $50,100
• − Mortgage interest: −$12,603
• − Property taxes: −$3,938
• − Insurance: −$1,125
• − Repairs & maintenance: −$4,008
• − Management: −$4,008
• − Depreciation: −$6,545
• Taxable income: $17,872
• Est. tax owed @ 24.0%: −$4,289
• After-tax cash flow: $16,068/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

+448.8% since first listed

10 events — show timeline

• 2026-05-18 Pending — GEBOR
• 2026-05-18 Pending — GEBOR
• 2026-05-14 Listed $225,000 GEBOR
• 2026-05-14 Listed $225,000 GEBOR
• 2014-06-11 Sold (Public Records) $120,000 Public Records
• 2014-06-10 Sold (MLS) $120,000 GEBOR
• 2014-03-21 Listed $125,000 GEBOR
• 2013-10-04 Listed $132,000 GEBOR
• 1995-08-24 Sold (Public Records) $60,900 Public Records
• 1978-09-15 Sold (Public Records) $41,000 Public Records

Property tax history

+1.9%/yr

Latest (2026): $3,938 · +3.4% YoY. Source: county tax records.