1409 W 38th StLorainOH44053
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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
Rental property for sale in Lorain at 1409 W 38th St, Lorain, OH, 44053 generates $959/mo in rent, after a $876/mo payment. Total monthly income is $959/mo. Return on cash invested sits at 15.49% in year one, and rental yield is 6.43% on a $178,900 entry. Equity gained on principal adds $1,154/yr, while 5% annual appreciation builds toward $49,427 over five years. Five-year ROI reaches 79.67% and total cumulative return in cash sums $47,251. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $959/mo property income rather than buyer’s personal income.
Single Family
Built in 1966
8,276 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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Listed by: Rachel Blenman • EXP Realty, LLC.
Mls Name: MLS Now
Mls Provider:
Mls ID: #5076323
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