2901 Old French RdEriePA16504
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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 2901 Old French Rd, Erie, PA, 16504 generates $1,075/mo in rent, after a $881/mo payment. Total monthly income is $1,075/mo. Return on cash invested sits at 17.81% in year one, and rental yield is 7.17% on a $179,900 entry. Equity gained on principal adds $1,161/yr, while 5% annual appreciation builds toward $49,703 over five years. Five-year ROI reaches 92.11% and total cumulative return in cash sums $54,933. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,075/mo property income rather than buyer’s personal income.
Multi Family
Built in 1857
N/A 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
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Listed by: Nathan Sherman • Thrive Real Estate LLC
Mls Name: GEMLS
Mls ID: #186011