2917 Cherry 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 2917 Cherry St, Erie, PA, 16508 offers $1,678/mo rent that, after a $558/mo payment, leaves $873/mo cash flow. Total monthly income is $1,678/mo, and annual cash flow is $10,471/yr on $37,791 cash. Return on cash invested measures 47.62% in year one, and rental yield stands at 17.66% at a $114,000 entry. Equity gained on principal adds $736/yr while 5% annual appreciation compounds into $31,496 by year five. Five-year ROI records 252.65% and total cumulative return in cash reaches $95,479. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,678/mo property income versus a $558/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1920
4,199 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: Jarrod Groves • Bob Pfister Real Estate Services
Mls Name: GEMLS
Mls ID: #178192
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.