3024 Raspberry 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 3024 Raspberry St, Erie, PA, 16508 priced at $159,000 converts $1,400/mo rent into $345/mo cash flow after a $778/mo obligation. Total monthly income equals $1,400/mo, and annual cash flow totals $4,136/yr on $52,709 invested. Return on cash invested prints 27.76% in year one, and rental yield reads 10.57% against a $159,000 entry. Equity gained on principal adds $1,026/yr, while 5% annual appreciation compiles into $43,929 by year five. Five-year ROI reaches 145.55% and total cumulative return in cash sums $76,716. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,400/mo property income covering a $778/mo payment, not borrower’s personal income.
Single Family
Built in 1917
6,969 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: Fred Amendola • Keller Williams Realty
Mls Name: GEMLS
Mls ID: #183660
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.