1308 W 24th StEriePA16502
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash Flow1308 W 24th St, Erie, PA, 16502 in Erie is a solid income-producing rental, 10.48% gross yield, $1,485/mo rent, $371/mo net cash flow on a $170,000 buy. DSCR 1.94 qualifies the property for Ziffy Mortgage's financing without personal income documentation. Five-year appreciation of $46,968 and $1,566/yr in principal reduction project a total cumulative return of $88,680.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.5% | 7.8% |
| Monthly Cash Flow | $371 | $450 |
City averages based on Erie market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,485 |
| Total Monthly Debt Service | $1,046 |
| DSCR Ratio | 1.42x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
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
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
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