1651 Mentor Ave APT 3012PainesvilleOH44077
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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 Painesville at 1651 Mentor Ave APT 3012, Painesville, OH, 44077 offers a 9.28% rental yield on a $149,900 purchase with $1,159/mo rent. Total monthly income registers $1,159/mo, and a $734/mo payment leaves $173/mo available for distribution. Annual cash flow reaches $2,072/yr on $49,692 to close, and return on cash invested stands at 24.08% in year one. Equity gained on principal adds $967/yr while 5% annual appreciation supports $41,415 over five years. Portfolio math shows five-year ROI at 125.76% and total cumulative return in cash at $62,495. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,159/mo property income against a $734/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1972
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 44077, Painesville, OH area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 25,374 (100%) |
| Owner Occupied HU | 17,667 (69.6%) |
| Renter Occupied HU | 6,312 (24.9%) |
| Vacant Housing Units | 1,395 ( 5.5%) |
| Median Home Value | $257,846 |
| Average Home Value | $298,922 |
Housing Distribution
Address Breakdown
Residential
24,650
Single Family
23,364
Multi-Family
1,286
Businesses
1,304
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Listed by: Michelle R Webb • HomeSmart Real Estate Momentum LLC
Mls Name: MLS Now
Mls ID: #5148809