1308 W 24th StEriePA16502
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 1308 W 24th St, Erie, PA, 16502 offers a 10.48% rental yield on a $170,000 purchase with $1,485/mo rent. Total monthly income registers $1,485/mo, and a $832/mo payment leaves $371/mo available for distribution. Annual cash flow reaches $4,453/yr on $56,355 to close, and return on cash invested stands at 27.81% in year one. Equity gained on principal adds $1,097/yr while 5% annual appreciation supports $46,968 over five years. Portfolio math shows five-year ROI at 145.77% and total cumulative return in cash at $82,149. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,485/mo property income against a $832/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1914
7,840 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Emily Bargielski • Joe Herbert Realty
Mls Name: GEMLS
Mls ID: #188860