5507 Millfair Rd Fairview, PA 16415

3 beds · 2 baths · 1,410 sq ft · Lot Size: 20,177 sq ft · Single Family Home
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5507 Millfair Rd is in the 16415 neighborhood of Fairview, PA. It is located in Erie County and ZIP code 16415. This Single Family Home was built in 1990 and is approximately 35 years old. The single family home spans 1410 sq ft with 3 bedrooms and 2 bathrooms and sits on a 20177 sq ft lot. According to public records, it was last sold in 2019 for $67,000. Analyze and compare real estate investment strategies for properties like this home at 5507 Millfair Rd Fairview, PA 16415 with Property Intel by Whitepages.

Investment Potential for 5507 Millfair Rd

The property has a current estimated value of $227,136, which is 11% below the zip median, based on public records. It last sold on January 17, 2019 for $67K. Projected long-term
is $26,400 annually ($2,200 per month) with a 94% occupancy rate.

Long-Term

Gross Rental
$26,400 per year($2,200 per month)
Net Operating Income
Cap Rate
Occupancy Rate
94%in 16415 zip code
 
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Owners & Occupancy for 5507 Millfair Rd

This property is owned by Mike R Krahe. Owner contact information includes 2 phone numbers and 2 email addresses.

Property Owners

Cell Phone(814) ***-****
Residence************
Distance from Property**********
Email Address**********@erieinsurance.com
Cell Phone(814) ***-****
Residence************
Landline(814) 833-2330
Distance from Property**********

Property Ownership Information

Purchase DateJanuary 17, 2019
Property Tax Amount$4,486 in 2024
Purchase Price$67,000

Occupancy

Current Occupancy*****View Occupancy
Resident 1******************* age 44
Resident 2************ age 43

Property Details for 5507 Millfair Rd

Property Details

Property Sq Ft

Living Area

1,410 sq ft

Compare to 16415

Lot Size

20,177 sq ft

Compare to 16415

Price Per Sq Ft

Living Area

$161 / sq ft

Compare to 16415

Lot Size Area

$11 / sq ft

Compare to 16415
Property condition, age, exterior, etc. for 5507 Millf…
Longitude: -80.183396 Latitude: 42.040381 Parcel Number (APN): 33-132-571.0-043.02…
Mortgage originated on through lender: Marquette Svgs Bk for$******View Mortgage Details
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Market Benchmarks

Compare data for 5507 Millfair Rd in Erie County to the median in the zip code area and surrounding markets, where available.
View zip code benchmarks
Property
State
Difference
$227,136
$243,601
-$16,465 (-7%)
$404,469
-$92,019 (-23%)
YoY Price Change
2.5%
124%
Year Built
1990
1957
33 years
Living Space
1,410 sq ft
1,451 sq ft
-41 (-3%)
$ Per Living Sq Ft
$161
$168
-$7 (-4%)
Lot Size
20,177 sq ft
8,712 sq ft
11465 (132%)
$ Per Lot Sq Ft
$11
$38
-$27 (-71%)

Net Operating Income
$16,161
$558 (3%)
Annual Revenue
$26,400
$24,600
$1,800 (7%)
$8,083
$1,598 (20%)
Net Operating Income
$16,161
$558 (3%)
Cap Rate
6.34%
Home Value Comparison: Property vs. Local and Regional 3-Bed Single Family Home Medians