1246 E 28th StEriePA16504
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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 1246 E 28th St, Erie, PA, 16504 offers a 9.58% rental yield on a $144,900 purchase with $1,157/mo rent. Total monthly income registers $1,157/mo, and a $709/mo payment leaves $208/mo available for distribution. Annual cash flow reaches $2,492/yr on $48,034 to close, and return on cash invested stands at 25.1% in year one. Equity gained on principal adds $935/yr while 5% annual appreciation supports $40,033 over five years. Portfolio math shows five-year ROI at 131.16% and total cumulative return in cash at $63,001. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,157/mo property income against a $709/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1949
5,401 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 16504, Erie, PA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,866 (100%) |
| Owner Occupied HU | 4,241 (61.8%) |
| Renter Occupied HU | 2,060 (30.0%) |
| Vacant Housing Units | 565 ( 8.2%) |
| Median Home Value | $111,232 |
| Average Home Value | $181,587 |
Housing Distribution
Address Breakdown
Residential
6,589
Single Family
6,038
Multi-Family
551
Businesses
196
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Listed by: Bob List • Agresti Real Estate
Mls Name: GEMLS
Mls ID: #189338