2206 Cherry StEriePA16502
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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 Erie at 2206 Cherry St, Erie, PA, 16502 earns $249/mo cash flow from $1,363/mo rent with a $832/mo payment. Total monthly income totals $1,363/mo, and annual cash flow totals $2,991/yr on $56,322 capital. ROI tracks 25.22% on current figures, and rental yield reads 9.63% at a $169,900 purchase. Equity gained on principal adds $1,096/yr, and 5% annual appreciation supports $46,940 over five years. Five-year ROI reaches 131.87% and total cumulative return in cash sums $74,270. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,363/mo property income instead of your personal income.
Multi Family
Built in 1882
4,408 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 16502, Erie, PA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,681 (100%) |
| Owner Occupied HU | 2,457 (32.0%) |
| Renter Occupied HU | 4,325 (56.3%) |
| Vacant Housing Units | 899 (11.7%) |
| Median Home Value | $87,569 |
| Average Home Value | $133,334 |
Housing Distribution
Address Breakdown
Residential
6,831
Single Family
6,046
Multi-Family
785
Businesses
424
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Listed by: Jeannette Hayes • Howard Hanna Erie Southwest
Mls Name: GEMLS
Mls ID: #188003