1407 Narragansett BlvdLorainOH44053
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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 Lorain at 1407 Narragansett Blvd, Lorain, OH, 44053 uses $69,582 cash to close to unlock $1,364/yr annual cash flow and $114/mo monthly cash flow. Total monthly income runs $1,494/mo, and a $1,027/mo payment keeps the spread at $114/mo. Purchase price stands at $209,900, and rental yield measures 8.54% with $1,494/mo rent. Return on cash invested shows 21.87% in year one, and 5% annual appreciation builds toward $57,992 over five years. Five-year ROI reaches 113.85% and total cumulative return in cash records $79,220. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,494/mo property income covering a $1,027/mo payment rather than investor’s personal income.
Single Family
Built in 1973
10,454 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 44053, Lorain, OH area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,893 (100%) |
| Owner Occupied HU | 6,090 (61.6%) |
| Renter Occupied HU | 3,174 (32.1%) |
| Vacant Housing Units | 629 ( 6.4%) |
| Median Home Value | $216,801 |
| Average Home Value | $251,076 |
Housing Distribution
Address Breakdown
Residential
9,715
Single Family
7,830
Multi-Family
1,885
Businesses
424
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