2202 Wallace StEriePA16503
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeReliable, bankable, and well-priced, 2202 Wallace St, Erie, PA, 16503 in Erie delivers $1,066/mo in gross rent and $214/mo in net monthly income at a $129,900 entry. The 9.84% yield and 1.83 DSCR make it a clean candidate for Ziffy Mortgage's DSCR loan; no W-2s or U.S. credit history required. With 5% annual appreciation projecting $35,889 over five years and $1,196/yr in equity from loan paydown, total projected return is $63,308.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.8% | 7.8% |
| Monthly Cash Flow | $214 | $450 |
City averages based on Erie market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,066 |
| Total Monthly Debt Service | $800 |
| DSCR Ratio | 1.33x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, 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 1917
N/A lot
$N/A/sqft
No HOA
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 1917
N/A lot
$N/A/sqft
No HOA
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Andrea Moffett • Agresti Real Estate
Mls Name: GEMLS
Mls ID: #183740
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.