1521 State StEriePA16501
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayNot all U.S. investment properties are valued for current income. 1521 State St, Erie, PA, 16501 in Erie at $299,900, 5.48% gross yield, is a market-growth asset. Rental yield 5.48%. The $1,370/mo rent partially funds the $1,349/mo debt service; the core return is the 5%/yr price growth projected to add $82,857 over five years. Ziffy Mortgage's DSCR mortgage (1.02) provides financing for foreign nationals without domestic income checks. A 30–35% down payment often produces the cleanest coverage for low-yield properties. Total five-year return: $75,883.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 5.5% | 7.8% |
| Monthly Cash Flow | $(595) | $450 |
City averages based on Erie market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,370 |
| Total Monthly Debt Service | $1,846 |
| DSCR Ratio | 0.74x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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.
Multi Family
Built in 1921
10,149 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 16501, Erie, PA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,616 (100%) |
| Owner Occupied HU | 19 ( 1.2%) |
| Renter Occupied HU | 1,421 (87.9%) |
| Vacant Housing Units | 176 (10.9%) |
| Median Home Value | $117,857 |
| Average Home Value | $128,594 |
Housing Distribution
Address Breakdown
Residential
1,330
Single Family
162
Multi-Family
1,168
Businesses
707
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
Multi Family
Built in 1921
10,149 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 16501, Erie, PA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,616 (100%) |
| Owner Occupied HU | 19 ( 1.2%) |
| Renter Occupied HU | 1,421 (87.9%) |
| Vacant Housing Units | 176 (10.9%) |
| Median Home Value | $117,857 |
| Average Home Value | $128,594 |
Housing Distribution
Address Breakdown
Residential
1,330
Single Family
162
Multi-Family
1,168
Businesses
707
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: N/A • N/A
Mls Name: GEMLS
Mls ID: #189918