3082 W 12th St, Erie, PA, 16505
About This Home
Excellent 14-unit value-add opportunity in a prime Millcreek location near the Peninsula corridor! The property includes 2 buildings: a single-story 6-unit building & a two-story 8-unit building, with 12 one-bedroom apartments & 2 efficiencies. Current rents are well below market, creating substantial upside through strategic rent growth, improved management & potential coin-operated laundry income. Improvements include an approximately 12-year-old roof with 35+ year shingles, mostly newer windows & exterior doors, & two functional boilers operating together as one system. Additional land may offer future storage, parking, development or expansion potential, subject to approvals. Located minutes from Presque Isle State Park, Lake Erie beaches, Waldameer, Erie International Airport, shopping & dining. The highly desirable MU-2 Corridor Mixed Use zoning is a major advantage, offering broad flexibility and significant potential for future development, redevelopment or a change of use.
Getting Around
Car-Dependent
Some Transit
Somewhat BikeableSchools
Construction
Condition
- Property condition: Resale
- Year built: 1960
Materials
- Roof: Composition
- Construction materials: Aluminum Siding,Vinyl Siding
Type & Style
- Home type: MultiFamily
- Architectural style: Two Story
- Property subType: Multi Family
Interior
Bedrooms & Bathrooms
- Bedrooms: 1
- Bathrooms: 2
Heating & Cooling
- Heating features: Gas,Hot Water
- Cooling features: None
Interior Area
- Total structure area: 6,343
- Total interior livable area: 6,343 sqft
Property
Details
- Parcel number: 33034059.0045.01
- Zoning description: MU
Features
- Levels: Two
- Stories: 2
Lot
- Lot size: 1.14 Acres
- Features: Level
- Lot size dimensions: 0 x 0 x 0 x 0
Parking
- Total spaces: 14
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Winter Weather
- Lightning
- Strong Wind
- Tsunami
How This Home’s Risks Compare
FEMA Declared Disasters Across Pennsylvania Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $6,573 | $78,876 |
| Home Insurance * | $526 | $6,312 |
| Property Taxes | $1,646 | $19,752 |
| Electricity | $695 | $8,351 |
| Total | $9,440 | $113,280 |
Income You'd Need if You Spent...
Pennsylvania FAIR Plan Programs
Insurance Placement Facility of Pennsylvania/FAIR Plan
Wildfire
HailWindHow Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-07-28 | Listed for sale | $1,299,900 |
| 2021-03-24 | Listing removed | -- |
| 2019-10-29 | Listing removed | $625 |
| 2019-08-10 | Listed for rent | $625 |
| 2017-10-30 | Listing removed | $650 |
| 2017-09-13 | Listed for rent | $650 |
| 2017-04-05 | Listing removed | $575 |
| 2017-03-06 | Listed for rent | $575 |
| 2014-11-06 | Listing removed | $590,000 |
| 2013-11-09 | Listed for sale | $590,000 |
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