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250 E Water St 10 Unit Apartment Building $1,361,022 CAD ($136,102 CAD/Unit) 8% Cap Rate Slippery Rock, PA 16057
INVESTMENT HIGHLIGHTS
- Great Location
- Updated Units
- Low Turnover
EXECUTIVE SUMMARY
Welcome to this well maintained 10-unit apartment property, an exceptional investment opportunity offering strong income potential and long-term value. This building features 2-bedroom units, each designed with clean, comfortable layouts and functional living spaces and abundant parking. With consistently low vacancy rates and a solid rental history, this property is ideal for investors seeking stable cash flow and future appreciation. Close to shopping, dining, and colleges, this location attracts quality tenants and ensures long-term desirability. Perfect to start you rental journey or for seasoned landlords to easily add to their portfolio. Don't miss this rare chance to acquire a turnkey multifamily asset with strong financials and room for growth.
Income
Rental Income 97,223.40
Other Income 2,000.00
Total Income 99,223.40
Operating Expenses
Taxes 6,719.53
Insurance 5,260.00
Utilities 9,285.79
Total Expenses 21,265.32
PRO FORMA
Income $120,000
Pro Forma NOI $98,734
Pro Forma based on 2025 Housing Authority fair market rent rates for 16057 zip code less utilities.
Income
Rental Income 97,223.40
Other Income 2,000.00
Total Income 99,223.40
Operating Expenses
Taxes 6,719.53
Insurance 5,260.00
Utilities 9,285.79
Total Expenses 21,265.32
PRO FORMA
Income $120,000
Pro Forma NOI $98,734
Pro Forma based on 2025 Housing Authority fair market rent rates for 16057 zip code less utilities.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$135,716
|
$11.06
|
| Other Income |
$2,792
|
$0.23
|
| Vacancy Loss |
$12,963
|
$1.06
|
| Effective Gross Income |
$125,545
|
$10.23
|
| Taxes |
$9,381
|
$0.76
|
| Operating Expenses |
$7,343
|
$0.60
|
| Total Expenses |
$16,723
|
$1.36
|
| Net Operating Income |
$108,822
|
$8.87
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $135,716 |
| Annual Per SF | $11.06 |
| Other Income (CAD) | |
|---|---|
| Annual | $2,792 |
| Annual Per SF | $0.23 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $12,963 |
| Annual Per SF | $1.06 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $125,545 |
| Annual Per SF | $10.23 |
| Taxes (CAD) | |
|---|---|
| Annual | $9,381 |
| Annual Per SF | $0.76 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $7,343 |
| Annual Per SF | $0.60 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $16,723 |
| Annual Per SF | $1.36 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $108,822 |
| Annual Per SF | $8.87 |
PROPERTY FACTS
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Balcony
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Tile Floors
- Eat-in Kitchen
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Tub/Shower
- Views
- Carpet
- Deck
- Dining Room
- Family Room
- Island Kitchen
- Office
- Porch
- Smoke Free
- Vinyl Flooring
- Large Bedrooms
SITE AMENITIES
- Private Bathroom
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 10 | $1,396 CAD | - |
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PROPERTY TAXES
| Parcel Number | 510-S2-25-0000 | Total Assessment | $58,723 CAD (2025) |
| Land Assessment | $14,680 CAD (2025) | Annual Taxes | $9,381 CAD ($0.76 CAD/SF) |
| Improvements Assessment | $44,043 CAD (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
510-S2-25-0000
Land Assessment
$14,680 CAD (2025)
Improvements Assessment
$44,043 CAD (2025)
Total Assessment
$58,723 CAD (2025)
Annual Taxes
$9,381 CAD ($0.76 CAD/SF)
Tax Year
2024
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250 E Water St
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