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2926 State St - The State Street Retreat and Game Room 1 Unit Apartment Building Offered at $475,825 CAD at a 17.14% Cap Rate Erie, PA 16508
Investment Highlights
- Central Location - Easy access to bayfront and highways
- Highly Sought After STR
- Quiet neighborhood with 2 car garage and 2 car off street parking
Executive Summary
At $112/sq ft it is priced to sell just with that but with income hitting nearly $70,000 that makes it impossible to match. Stunning and fully renovated, this spacious home offers over 3,100 square feet of beautifully finished living space just minutes from Center City Erie. Every detail has been thoughtfully updated with top-quality materials and craftsmanship, blending modern style with timeless comfort. The layout features a designer kitchen with high-end appliances and elegant countertops, flowing seamlessly into large living and dining areas perfect for entertaining. Generously sized bedrooms and updated baths provide space and flexibility for families, guests, or short-term rental opportunities. This home is ideal as a luxurious personal residence or an income-generating Airbnb as it is currently being used. Additional finished living spaces have been added making this a home or investment for generations.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$95,165
|
$30.57
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$95,165
|
$30.57
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$13,595
|
$4.37
|
| Net Operating Income |
$81,570
|
$26.20
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $95,165 |
| Annual Per SF | $30.57 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $95,165 |
| Annual Per SF | $30.57 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $13,595 |
| Annual Per SF | $4.37 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $81,570 |
| Annual Per SF | $26.20 |
Property Facts
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Washer/Dryer
- Heating
- High Speed Internet Access
- Refrigerator
- Range
- Wi-Fi
- Yard
- Basement
- Family Room
- Freezer
Site Amenities
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 5+2.5 | 1 | - | 3,113 |
1 1
Moderately walkable
70/100
Fairly drivable
50/100
Limited public transit
30/100
Somewhat bikeable
30/100
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2926 State St - The State Street Retreat and Game Room
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