1027 Washington PlEriePA16502
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Investment property for sale in Erie at 1027 Washington Pl, Erie, PA, 16502 with 5% annual appreciation on a $150,000 basis while $1,352/mo rent supports operations. Total monthly income totals $1,352/mo and a $734/mo payment preserves $369/mo for cash returns. Annual cash flow comes to $4,431/yr on $49,725 deployed, and return on cash invested reaches 28.82% in year one. Equity gained on principal adds $968/yr, and five-year appreciation sums $41,442 alongside rental yield of 10.82%. Five-year ROI measures 151.16% and total cumulative return in cash totals $75,162.
Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $1,352/mo property income versus a $734/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Multi Family
Built in 1920
2,657 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 16502, Erie, PA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,681 (100%) |
| Owner Occupied HU | 2,457 (32.0%) |
| Renter Occupied HU | 4,325 (56.3%) |
| Vacant Housing Units | 899 (11.7%) |
| Median Home Value | $87,569 |
| Average Home Value | $133,334 |
Housing Distribution
Address Breakdown
Residential
6,831
Single Family
6,046
Multi-Family
785
Businesses
424
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Listed by: Pat Doran • Howard Hanna Erie Airport
Mls Name: GEMLS
Mls ID: #183647
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.