2920 Walnut StEriePA16508
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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 2920 Walnut St, Erie, PA, 16508 priced at $165,000 pairs $1,298/mo rent with $193/mo cash flow after a $808/mo payment. Total monthly income equals $1,298/mo, and annual cash flow comes to $2,314/yr on $54,698 invested. Return on cash invested is 24.14% in year one, and rental yield stands at 9.44% on a $165,000 basis. Equity gained on principal adds $1,065/yr, and 5% annual appreciation accumulates to $45,586 by year five. Five-year ROI measures 126.17% and total cumulative return in cash reaches $69,011. For financing, Ziffy Mortgage’s DSCR program evaluates $1,298/mo property income against a $808/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1916
3,920 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: Slythe Stoler • Howard Hanna Erie Airport
Mls Name: GEMLS
Mls ID: #181335
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