1617 Clarence AveLakewoodOH44107
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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 Lakewood at 1617 Clarence Ave, Lakewood, OH, 44107 uses $86,187 cash to close to unlock $1,468/yr annual cash flow and $122/mo monthly cash flow. Total monthly income runs $1,833/mo, and a $1,273/mo payment keeps the spread at $122/mo. Purchase price stands at $259,990, and rental yield measures 8.46% with $1,833/mo rent. Return on cash invested shows 21.61% in year one, and 5% annual appreciation builds toward $71,830 over five years. Five-year ROI reaches 112.52% and total cumulative return in cash records $96,974. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,833/mo property income covering a $1,273/mo payment rather than investor’s personal income.
Single Family
Built in 1916
7,400 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 44107, Lakewood, OH area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 28,461 (100%) |
| Owner Occupied HU | 11,791 (41.4%) |
| Renter Occupied HU | 14,239 (50.0%) |
| Vacant Housing Units | 2,431 ( 8.5%) |
| Median Home Value | $271,494 |
| Average Home Value | $318,482 |
Housing Distribution
Address Breakdown
Residential
26,978
Single Family
17,199
Multi-Family
9,779
Businesses
1,309
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