1715 W 15th St · Erie, PA 16505

$69,999

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 4 Days on market

Built 1918 2,779 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
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• 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

Cheaper than rent! No HOA fees! This affordable, well cared for two bedroom row house is an end unit with a full driveway. Upgrades include metal roof, central A/C and updated electric. New carpeting and flooring in the kitchen and bathroom. Newer hot water tank. Basement bulkhead door for outside access. All appliances included. This home is move in ready and would make a great first home or rental!

Key facts

• Metal roof
• New carpeting
• Updated electric

Tags

• METAL ROOF
• CENTRAL A/C
• UPDATED ELECTRIC
• NEW CARPETING
• NEW FLOORING
• BASEMENT BULKHEAD DOOR

Property features AI

Finance

• Other: Lot roughly 27 x 100 (0.0638 acres)

Exterior

• Parking: 2 parking spaces
• Security: Fire alarm
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single family residence; Residential property; R-3 zoning
• Construction: Aluminum siding; Metal roof; Built on a full basement
• Exterior features: Enclosed porch; Porch; Paved road access; Sidewalks (community)

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Bedrooms: 5 total rooms (includes bedrooms and living areas)
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Window coverings and drapes; Full unfinished basement
• Laundry & utility: Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $284 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($988 rent vs $70k).
• Cap rate 11.2% vs local median 5.3% 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.
• Zoned schools: Harding Sch (math 10% / reading 23%, grade F, #1,312 of 1,518 statewide, top 87%, 590 students, 100% FRL); Northwest Pa Collegiate Academy (math 82%, 753 students, 100% FRL) — zoned schools average 100% FRL vs 81% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 72 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 $484 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 $20k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $28k; list at $70k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $69,999

Questions for the listing agent

1. Built in 1918 — 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. 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?
4. 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.
5. 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.
6. 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: 1.41% ✓
• Cap rate: 11.17%
• Cash-on-cash: 17.42%
• DSCR: 1.78
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $157,248
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1686 W 15th St	0.05mi	2/1.0	894 (+4%)	3mo	$34,000	$38	89
1903 W 24th St	0.63mi	2/1.0	816 (-6%)	8mo	$148,200	$182	54
1721 W 23rd St	0.54mi	3/1.0 (+1)	864 (0%)	23mo	$88,000	$102	51
1814 W 22nd St	0.46mi	3/1.0 (+1)	840 (-3%)	22mo	$125,000	$149	50
1944 Oxford St	0.62mi	2/1.0	816 (-6%)	20mo	$149,900	$184	46
2030 Robin Dr	0.59mi	2/1.0	800 (-7%)	19mo	$172,000	$215	45
1021 Shenley Dr	0.43mi	3/2.0 (+1)	922 (+7%)	23mo	$195,000	$211	41
2039 W 24th St	0.73mi	3/1.0 (+1)	960 (+11%)	15mo	$135,000	$141	30

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: 8.8%
• Equity multiple: 1.35×
• Total profit: $6,800
• Equity at exit: $10,437

10-year hold

• IRR: 18.0%
• Equity multiple: 2.50×
• Total profit: $29,344
• Equity at exit: $6,052

Cash invested: $19,600 (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 16505

• Home prices YoY: -33.5%
• Active inventory: 72
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $988 high
• Mortgage (P&I): −$367
• Tax from tax record: −$100 /mo · $1,197/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$207
• Net cashflow: $284

Break-even live

Break-even rent $628

Max offer price $69,999

Occupancy floor 66%

Sensitivity live

Price	-10% $324	-5% $304	+0% $284	+5% $265	+10% $245
Rent	-10% $206	-5% $245	+0% $284	+5% $324	+10% $363
Rate	-1.0pp $320	-0.5pp $302	base $284	+0.5pp $266	+1.0pp $248

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1257 W 6th St Erie, PA	2.0	1.0	1100	$1,350	$1.23	45d	1	0.88mi
1102 W 8th St Unit 1R Erie, PA	1.0	1.0	800	$925	$1.16	45d	1	1.00mi
2540 W 8th St Erie, PA	1.0–2.0	1.0–2.0	550	$1,711	$3.11	45d	1	1.12mi
305 Cascade St Unit 305 Erie, PA	2.0	1.0	1000	$900	$0.90	45d	1	1.32mi
1022 W 30th St Unit 2 Erie, PA	2.0	1.0	1000	$850	$0.85	45d	1	1.35mi
2619 Liberty St Apt 2 Erie, PA	2.0	1.0	800	$800	$1.00	46d	1	1.45mi

Listing history 7 events

1. 2026-06-03
   status $69,999 Pending 4 DOM
2. 2026-06-02
   days on market $69,999 Active 4 DOM
3. 2026-06-01
   days on market $69,999 Active 3 DOM
4. 2026-05-31
   days on market $69,999 Active 2 DOM
5. 2026-05-29
   listed $69,999 Active
6. 2010-08-17
   soldstatus $28,000
7. 1995-07-03
   soldstatus $16,000

ⓘ 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: $1,197 · $100/mo
• Projected year-2 tax: $1,197 · $100/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 6 d/yr ≥90°F today · 15 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: $11,856
• − Mortgage interest: −$3,921
• − Property taxes: −$1,197
• − Insurance: −$350
• − Repairs & maintenance: −$948
• − Management: −$948
• − Depreciation: −$2,036
• Taxable income: $2,454
• Est. tax owed @ 24.0%: −$589
• After-tax cash flow: $2,825/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): 15,631

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 (93%)
• Race & ethnicity: White 93% Hispanic / Latino 3% Two or more races 3% Asian 2% Black 1%
• Common ancestry: Romanian 12% Slovak 3% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Other Indo-European 1% French/Haitian/Cajun 1% Spanish 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: ▼ -121.22%
• Current HPI: 240.6976
• 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

+337.5% since first listed

3 events — show timeline

• 2026-05-29 Listed $69,999 GEBOR
• 2010-08-17 Sold (Public Records) $28,000 Public Records
• 1995-07-03 Sold (Public Records) $16,000 Public Records

Property tax history

+1.9%/yr

Latest (2026): $1,197 · +3.4% YoY. Source: county tax records.