135-137 Meadville St · Edinboro, PA 16412

$169,900

8 bd · 5.0 ba · 3,344 sqft · MultiFamily · 38 Days on market

Built 1850 Fair condition 7,405 sqft lot $51/sqft · 12% below area Est $193k · 12% under ↓ 13% since listing

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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
• ARV discount +12.9/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.0/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Great Investment opportunity in this 3344 sq. ft. commercially zoned 2 unit. The main unit has a 17' X 30' family room with fireplace, kitchen, living room, dining area, breakfast area, 4 bedrooms, 2 1/2 baths, and a main floor laundry. The 2nd unit has a Living room, 2 bedrooms, kitchen, storage room, and bath. The home has side wall insulation as well as added attic insulation, 4 zoned hot water heat, and a brand new hot water tank. The home has been extensively rewired including 2 new electrical panels and hot wired smoke detectors.

Key facts

• Side wall insulation
• Family room
• Attic insulation

Tags

• INVESTMENT OPPORTUNITY
• COMMERCIALLY ZONED
• FAMILY ROOM
• FIREPLACE
• SIDE WALL INSULATION
• ATTIC INSULATION

Property features AI

Finance

• Other: Zoned C
• Financial info: Actual rent: $1,350 for the four-bedroom unit; Actual rent: $950 for the two-bedroom unit

Exterior

• Parking: Two parking spaces
• Utilities: Public water; Public sewer
• Home design: Residential income property; Multi-family; Two stories
• Construction: Brick and vinyl siding exterior; Composition roof
• Exterior features: Level lot; Paved road access

Interior

• Kitchen: Range/oven; Refrigerator
• Bedrooms: Four-bedroom unit (one unit)
• Bathrooms: Three bathrooms (in the four-bedroom unit); One bathroom (in the two-bedroom unit)
• Heating & cooling: Hot water heating; No central air
• Interior features: Basement tenant use; Fireplace
• Laundry & utility: Laundry (in the basement unit)

What this means for you Summary

Snapshot

• This is a 1×4.0bd/2.5ba + 1×2.0bd/1.0ba units multifamily listed at $170k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $548/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $170k).
• Recommended offer: $165k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.0% vs local median 2.4% in Edinboro — 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 77/100 on livability (#316 in PA, #2,814 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: amenities D+, commute F, employment D-.
• General Mclane SD (rural): math 50% / reading 66% proficiency, ranked #85 of 539 in PA (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 59 active listings in the ZIP; 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 $48k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 4 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: built in 1850 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $164,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1850 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. 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.
9. 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.
10. 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: 1.69% ✓
• Cap rate: 14.04%
• Cash-on-cash: 27.65%
• DSCR: 2.23
• GRM: 4.9

CMA / ARV

• ARV (median comp): $193,258
• List price: $169,900
• Delta: -12.09%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 21.7%
• Equity multiple: 1.89×
• Total profit: $42,337
• Equity at exit: $25,333

10-year hold

• IRR: 29.8%
• Equity multiple: 3.67×
• Total profit: $126,954
• Equity at exit: $14,690

Cash invested: $47,572 (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 16412

• Home prices YoY: -29.0%
• Active inventory: 59
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $2,874 medium
• Mortgage (P&I): −$891
• Tax est. 1.5%: −$212 /mo · $2,548/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$604
• Net cashflow: $1,096

Break-even live

Break-even rent $1,486

Max offer price $169,900

Occupancy floor 57%

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

Units	Beds	Baths	Est. rent
1× unit	4.0	2.5	$1,573
1× unit	2.0	1	$1,301
Total (2 units)			$2,874

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-13
   statusdays on market $169,900 Pending 38 DOM
2. 2026-06-10
   days on market $169,900 Active 37 DOM
3. 2026-06-09
   days on market $169,900 Active 36 DOM
4. 2026-06-08
   days on market $169,900 Active 35 DOM
5. 2026-06-07
   days on market $169,900 Active 34 DOM
6. 2026-06-05
   days on market $169,900 Active 31 DOM
7. 2026-06-03
   days on market $169,900 Active 30 DOM
8. 2026-06-02
   days on market $169,900 Active 29 DOM
9. 2026-06-01
   days on market $169,900 Active 28 DOM
10. 2026-05-31
    days on market $169,900 Active 27 DOM
11. 2026-05-30
    days on market $169,900 Active 26 DOM
12. 2026-05-04
    listed $169,900 Active 543-char remark
13. 2026-01-13
    soldstatus $165,000 Closed 542-char remark

    Show marketing remark (542 chars)

    Great Investment opportunity in this 3344 sq. ft. commercially zoned 2 unit. The main unit has a 17' X 30' family room with fireplace, kitchen, living room, dining area, breakfast area, 4 bedrooms, 2 1/2 baths, and a main floor laundry. The 2nd unit has a Living room, 2 bedrooms, kitchen, storage room, and bath. The home has side wall insulation as well as added attic insulation, 4 zoned hot water heat, and a brand new hot water tank. The home has been extensively rewired including 2 new electrical panels and hot wired smoke detectors.

14. 2025-12-19
    status Pending 542-char remark

    Show marketing remark (542 chars)

    Great Investment opportunity in this 3344 sq. ft. commercially zoned 2 unit. The main unit has a 17' X 30' family room with fireplace, kitchen, living room, dining area, breakfast area, 4 bedrooms, 2 1/2 baths, and a main floor laundry. The 2nd unit has a Living room, 2 bedrooms, kitchen, storage room, and bath. The home has side wall insulation as well as added attic insulation, 4 zoned hot water heat, and a brand new hot water tank. The home has been extensively rewired including 2 new electrical panels and hot wired smoke detectors.

15. 2025-12-15
    status Active 542-char remark

    Show marketing remark (542 chars)

    Great Investment opportunity in this 3344 sq. ft. commercially zoned 2 unit. The main unit has a 17' X 30' family room with fireplace, kitchen, living room, dining area, breakfast area, 4 bedrooms, 2 1/2 baths, and a main floor laundry. The 2nd unit has a Living room, 2 bedrooms, kitchen, storage room, and bath. The home has side wall insulation as well as added attic insulation, 4 zoned hot water heat, and a brand new hot water tank. The home has been extensively rewired including 2 new electrical panels and hot wired smoke detectors.

16. 2025-12-01
    status Pending 542-char remark

    Show marketing remark (542 chars)

    Great Investment opportunity in this 3344 sq. ft. commercially zoned 2 unit. The main unit has a 17' X 30' family room with fireplace, kitchen, living room, dining area, breakfast area, 4 bedrooms, 2 1/2 baths, and a main floor laundry. The 2nd unit has a Living room, 2 bedrooms, kitchen, storage room, and bath. The home has side wall insulation as well as added attic insulation, 4 zoned hot water heat, and a brand new hot water tank. The home has been extensively rewired including 2 new electrical panels and hot wired smoke detectors.

17. 2025-11-18
    price $165,900 542-char remark

    Show marketing remark (542 chars)

    Great Investment opportunity in this 3344 sq. ft. commercially zoned 2 unit. The main unit has a 17' X 30' family room with fireplace, kitchen, living room, dining area, breakfast area, 4 bedrooms, 2 1/2 baths, and a main floor laundry. The 2nd unit has a Living room, 2 bedrooms, kitchen, storage room, and bath. The home has side wall insulation as well as added attic insulation, 4 zoned hot water heat, and a brand new hot water tank. The home has been extensively rewired including 2 new electrical panels and hot wired smoke detectors.

18. 2025-10-08
    price $175,900 542-char remark

    Show marketing remark (542 chars)

    Great Investment opportunity in this 3344 sq. ft. commercially zoned 2 unit. The main unit has a 17' X 30' family room with fireplace, kitchen, living room, dining area, breakfast area, 4 bedrooms, 2 1/2 baths, and a main floor laundry. The 2nd unit has a Living room, 2 bedrooms, kitchen, storage room, and bath. The home has side wall insulation as well as added attic insulation, 4 zoned hot water heat, and a brand new hot water tank. The home has been extensively rewired including 2 new electrical panels and hot wired smoke detectors.

19. 2025-07-03
    price $185,900 542-char remark

    Show marketing remark (542 chars)

    Great Investment opportunity in this 3344 sq. ft. commercially zoned 2 unit. The main unit has a 17' X 30' family room with fireplace, kitchen, living room, dining area, breakfast area, 4 bedrooms, 2 1/2 baths, and a main floor laundry. The 2nd unit has a Living room, 2 bedrooms, kitchen, storage room, and bath. The home has side wall insulation as well as added attic insulation, 4 zoned hot water heat, and a brand new hot water tank. The home has been extensively rewired including 2 new electrical panels and hot wired smoke detectors.

20. 2025-05-07
    historical
21. 2025-04-16
    listed
22. 2025-04-15
    listed $195,900 Active 542-char remark

    Show marketing remark (542 chars)

    Great Investment opportunity in this 3344 sq. ft. commercially zoned 2 unit. The main unit has a 17' X 30' family room with fireplace, kitchen, living room, dining area, breakfast area, 4 bedrooms, 2 1/2 baths, and a main floor laundry. The 2nd unit has a Living room, 2 bedrooms, kitchen, storage room, and bath. The home has side wall insulation as well as added attic insulation, 4 zoned hot water heat, and a brand new hot water tank. The home has been extensively rewired including 2 new electrical panels and hot wired smoke detectors.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥91°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,488
• − Mortgage interest: −$9,517
• − Property taxes: −$2,548
• − Insurance: −$850
• − Repairs & maintenance: −$2,759
• − Management: −$2,759
• − Depreciation: −$4,943
• Taxable income: $11,112
• Est. tax owed @ 24.0%: −$2,667
• After-tax cash flow: $10,489/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

This 3344 sq. ft. multi-family home presents as needing moderate renovations, with dated kitchens and bathrooms, aged siding, and peeling paint. Upgrading these areas can significantly increase its resale and rental value.

Repairs flagged

• Moderate Kitchen cabinets — Older cabinets in need of replacement or updating
• Moderate Bathroom fixtures — Older fixtures in need of replacement or updating
• Moderate Flooring — Carpeted floors in multiple rooms, some showing wear
• Moderate Paint — Peeling paint in some rooms
• Minor Windows — Windows appear functional but may need updating

Value-add opportunities

• Resale Kitchen renovation — Updating the kitchen with modern appliances and fixtures can significantly increase the home's appeal to buyers
• Resale Bathroom renovation — Updating the bathrooms with modern fixtures and finishes can also increase the home's appeal to buyers
• Both Painting — Painting the interior walls and cabinets can refresh the home's appearance and increase its value
• Both Landscaping — Improving the landscaping can enhance the home's curb appeal and increase its rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Older cabinets in need of replacement or updating	Moderate	$3,000–15,000
Bathroom fixtures · Older fixtures in need of replacement or updating	Moderate	$3,000–15,000
Flooring · Carpeted floors in multiple rooms, some showing wear	Moderate	$3,000–15,000
Paint · Peeling paint in some rooms	Moderate	$3,000–15,000
Windows · Windows appear functional but may need updating	Minor	$500–3,000
Total estimated repair cost · 5 items		$12,500–63,000

Value-add ROI direction

• Resale Kitchen renovation — Updating the kitchen with modern appliances and fixtures can significantly increase the home's appeal to buyers ↑
• Resale Bathroom renovation — Updating the bathrooms with modern fixtures and finishes can also increase the home's appeal to buyers ↑
• Both Painting — Painting the interior walls and cabinets can refresh the home's appearance and increase its value ↑
• Both Landscaping — Improving the landscaping can enhance the home's curb appeal and increase its rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: General Mclane SD
• NCES district ID: 4210650
• Math proficiency: 50% ▼ -11.00%
• Reading proficiency: 66% ▼ -5.00%
• Median HH income: $53,384
• Composite: 49.68/100
• National rank: #1971
• State rank: #85 of 539 in PA

Livability — Edinboro

• Score: 77/100
• State rank: #316
• US rank: #2814

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Edinboro, PA
• City population: 1,104
• Population (ZIP): 9,726

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 (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 7% Lithuanian 2% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 98% English-only · Spanish 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: ▼ -98.34%
• Current HPI: 240.8752
• 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

-13.3% since first listed

12 events — show timeline

• 2026-06-11 Pending — GEBOR
• 2026-05-04 Listed $169,900 GEBOR
• 2026-01-13 Sold (MLS) $165,000 GEBOR
• 2025-12-19 Pending — GEBOR
• 2025-12-15 Relisted — GEBOR
• 2025-12-01 Pending — GEBOR
• 2025-11-18 Price Changed $165,900 GEBOR
• 2025-10-08 Price Changed $175,900 GEBOR
• 2025-07-03 Price Changed $185,900 GEBOR
• 2025-05-07 Rental Removed — GEBOR
• 2025-04-16 Listed for Rent — GEBOR
• 2025-04-15 Listed $195,900 GEBOR