244 Harbor RdEriePA16511
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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 244 Harbor Rd, Erie, PA, 16511 with 5% annual appreciation on a $279,900 basis while $2,061/mo rent supports operations. Total monthly income totals $2,061/mo and a $1,370/mo payment preserves $227/mo for cash returns. Annual cash flow comes to $2,722/yr on $92,787 deployed, and return on cash invested reaches 22.84% in year one. Equity gained on principal adds $1,806/yr, and five-year appreciation sums $77,331 alongside rental yield of 8.84%. Five-year ROI measures 119.05% and total cumulative return in cash totals $110,461.
Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $2,061/mo property income versus a $1,370/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Single Family
Built in 1978
10,454 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 16511, Erie, PA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,888 (100%) |
| Owner Occupied HU | 3,105 (63.5%) |
| Renter Occupied HU | 1,440 (29.5%) |
| Vacant Housing Units | 343 ( 7.0%) |
| Median Home Value | $196,274 |
| Average Home Value | $227,448 |
Housing Distribution
Address Breakdown
Residential
4,845
Single Family
4,529
Multi-Family
316
Businesses
190
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Listed by: Stephanie Montgomery • Coldwell Banker Select - Airport
Mls Name: GEMLS
Mls ID: #182364
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.