1117 W 24th StEriePA16502
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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 1117 W 24th St, Erie, PA, 16502 uses $62,654 cash to close to unlock $1,339/yr annual cash flow and $112/mo monthly cash flow. Total monthly income runs $1,350/mo, and a $925/mo payment keeps the spread at $112/mo. Purchase price stands at $189,000, and rental yield measures 8.57% with $1,350/mo rent. Return on cash invested shows 22.05% in year one, and 5% annual appreciation builds toward $52,217 over five years. Five-year ROI reaches 114.8% and total cumulative return in cash records $71,926. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,350/mo property income covering a $925/mo payment rather than investor’s personal income.
Single Family
Built in 1930
4,186 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: Behar Hoxha • Agresti Real Estate
Mls Name: GEMLS
Mls ID: #188254