2684 Chestnut 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
Rental property for sale in Erie at 2684 Chestnut St, Erie, PA, 16508 generates $1,604/mo in rent and, after a $685/mo payment, leaves $687/mo in cash flow. Total monthly income is $1,604/mo, and annual cash flow is $8,244/yr on $46,377 invested. Return on cash invested sits at 37.69% in year one, and rental yield is 13.76% on a $139,900 entry. Equity gained on principal adds $903/yr, while 5% annual appreciation builds toward $38,652 over five years. Five-year ROI reaches 198.62% and total cumulative return in cash sums $92,115. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,604/mo property income rather than buyer’s personal income.
Single Family
Built in 1924
3,149 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: Sherri Heasley • Weichert Realtors - The Pro Group
Mls Name: GEMLS
Mls ID: #188156