247 E 29th StEriePA16504
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
Investment Highlights
Rental property for sale in Erie at 247 E 29th St, Erie, PA, 16504 generates $1,571/mo in rent and, after a $587/mo payment, leaves $785/mo in cash flow. Total monthly income is $1,571/mo, and annual cash flow is $9,422/yr on $39,747 invested. Return on cash invested sits at 43.61% in year one, and rental yield is 15.72% on a $119,900 entry. Equity gained on principal adds $774/yr, while 5% annual appreciation builds toward $33,126 over five years. Five-year ROI reaches 230.57% and total cumulative return in cash sums $91,644. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,571/mo property income rather than buyer’s personal income.
Multi Family
Built in 1929
4,356 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 16504, Erie, PA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,866 (100%) |
| Owner Occupied HU | 4,241 (61.8%) |
| Renter Occupied HU | 2,060 (30.0%) |
| Vacant Housing Units | 565 ( 8.2%) |
| Median Home Value | $111,232 |
| Average Home Value | $181,587 |
Housing Distribution
Address Breakdown
Residential
6,589
Single Family
6,038
Multi-Family
551
Businesses
196
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Coreen Scott • Coldwell Banker Select - Airport
Mls Name: GEMLS
Mls ID: #188710