2022 E Skyline Dr, Lorain, OH, 44053 | 6.77% Rental Yield

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2022 E Skyline Dr, Lorain, OH, 44053 | 6.77% Rental Yield | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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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

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Investment Highlights

Investment property for sale in Lorain at 2022 E Skyline Dr, Lorain, OH, 44053 listed at $169,900 pairs $959/mo rent with a $832/mo payment. Total monthly income runs $959/mo. Return on cash invested measures 16.52% in year one, and rental yield registers 6.77% at a $169,900 basis. Equity gained on principal adds $1,096/yr, and annual property appreciation at 5% supports $46,940 by year five. Five-year ROI tracks 85.16% and total cumulative return in cash totals $47,966. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $959/mo property income relative to a $832/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).

Single Family

Built in 1964

9,147 sqft lot

$N/A/sqft

No HOA

More details about the property

This charming split-level home features two spacious bedrooms and one full bath, making it ideal for easy living! The large kitchen boasts an abundance of cabinet and counter space, perfect for cooking and entertaining. The dining room is the perfect size topped off with a sparkling chandelier! The bedrooms on the 2nd floor are bright and inviting, each featuring beautiful wood floors and large double closets offering plenty of storage. The bathroom is a standout with a retro mid-century modern style, adding a unique charm to the home. The living room is filled with natural light from a huge bay window, creating a warm and welcoming space. On the lower level, you'll find a large family room with direct access to the backyard, offering even more space for entertainment or relaxation. The utility room is equipped with a big utility tub, plenty of additional storage, and even an extra toilet for added convenience. A one-car attached garage offers convenient parking and storage. A sliding door from the dining area leads to a vast backyard that is fully fenced providing privacy, and includes a lovely patio area surrounded by mature treesgreat for outdoor gatherings or simply relaxing. This home needs a little TLC and is ready for you to make it yours!!

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