2925 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
Investment property for sale in Erie at 2925 Cherry St, Erie, PA, 16508 uses $44,753 cash to close to unlock $6,614/yr annual cash flow and $551/mo monthly cash flow. Total monthly income runs $1,498/mo, and a $661/mo payment keeps the spread at $551/mo. Purchase price stands at $135,000, and rental yield measures 13.32% with $1,498/mo rent. Return on cash invested shows 34.69% in year one, and 5% annual appreciation builds toward $37,298 over five years. Five-year ROI reaches 183.28% and total cumulative return in cash records $82,021. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,498/mo property income covering a $661/mo payment rather than investor’s personal income.
Multi Family
Built in 1915
3,049 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: Mary Mountain • Pennington Lines RE Girard
Mls Name: GEMLS
Mls ID: #185953
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.