144 Parkway DrEriePA16511
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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 144 Parkway Dr, Erie, PA, 16511 offers a 9.6% rental yield on a $199,900 purchase with $1,600/mo rent. Total monthly income registers $1,600/mo, and a $978/mo payment leaves $291/mo available for distribution. Annual cash flow reaches $3,486/yr on $66,267 to close, and return on cash invested stands at 25.17% in year one. Equity gained on principal adds $1,290/yr while 5% annual appreciation supports $55,229 over five years. Portfolio math shows five-year ROI at 131.56% and total cumulative return in cash at $87,181. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,600/mo property income against a $978/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1949
0.32 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 16511, Erie, PA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,888 (100%) |
| Owner Occupied HU | 3,105 (63.5%) |
| Renter Occupied HU | 1,440 (29.5%) |
| Vacant Housing Units | 343 ( 7.0%) |
| Median Home Value | $196,274 |
| Average Home Value | $227,448 |
Housing Distribution
Address Breakdown
Residential
4,845
Single Family
4,529
Multi-Family
316
Businesses
190
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Listed by: Carson Chesley • Coldwell Banker Select - Edinboro
Mls Name: GEMLS
Mls ID: #189243