Under $500K Investment Properties for Sale in Erie, PA
520- 5 Bed
- 3 Bath
- 2396 sft
55- 4 Bed
- 4 Bath
- 2576 sft
148- 3 Bed
- 1 Bath
- 1246 sft
184- 3 Bed
- 2 Bath
- 1330 sft
Why Invest in Erie, Pennsylvania?
Erie, PA offers strong investment opportunities in homes under $500k, with affordable entry points for single-family rentals. Average rents support solid cash flow while cap rates remain attractive around 7-8%. The local economy shows steady renter demand at 40% occupancy, bolstered by Lake Erie proximity. Annual appreciation of 3-4% adds long-term value for buy-and-hold strategies. Low acquisition costs under $500k enable higher rental yields compared to larger markets.
Frequently Asked Questions
Investors see average cap rates of 7-8% and rental yields around 7% on under $500k properties. Cash flow averages $400-500 monthly after expenses. These metrics benefit from low entry costs and steady renter demand.
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