234 Locust StEriePA16508
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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 234 Locust St, Erie, PA, 16508 earns $528/mo cash flow from $1,705/mo rent with a $879/mo payment. Total monthly income totals $1,705/mo, and annual cash flow totals $6,340/yr on $59,504 capital. ROI tracks 30.56% on current figures, and rental yield reads 11.4% at a $179,500 purchase. Equity gained on principal adds $1,158/yr, and 5% annual appreciation supports $49,593 over five years. Five-year ROI reaches 160.51% and total cumulative return in cash sums $95,512. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,705/mo property income instead of your personal income.
Single Family
Built in 1923
4,791 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 16508, Erie, PA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,921 (100%) |
| Owner Occupied HU | 4,354 (62.9%) |
| Renter Occupied HU | 1,997 (28.9%) |
| Vacant Housing Units | 570 ( 8.2%) |
| Median Home Value | $130,047 |
| Average Home Value | $187,683 |
Housing Distribution
Address Breakdown
Residential
6,931
Single Family
6,764
Multi-Family
167
Businesses
601
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Listed by: Slythe Stoler • Howard Hanna Erie Airport
Mls Name: GEMLS
Mls ID: #187586