2054 Magee StLakewoodOH44107
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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 2054 Magee St, Lakewood, OH, 44107 uses $49,692 cash to close to unlock $24,884/yr annual cash flow and $2,074/mo monthly cash flow. Total monthly income runs $3,060/mo, and a $734/mo payment keeps the spread at $2,074/mo. Purchase price stands at $149,900, and rental yield measures 24.5% with $3,060/mo rent. Return on cash invested shows 69.99% in year one, and 5% annual appreciation builds toward $41,415 over five years. Five-year ROI reaches 371.91% and total cumulative return in cash records $184,811. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,060/mo property income covering a $734/mo payment rather than investor’s personal income.
Multi Family
Built in 1893
4,800 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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