308 W Cherry StNew CastlePA16102
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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 New Castle at 308 W Cherry St, New Castle, PA, 16102 generates $1,400/mo in rent and, after a $856/mo payment, leaves $254/mo in cash flow. Total monthly income is $1,400/mo, and annual cash flow is $3,047/yr on $57,979 invested. Return on cash invested sits at 25.16% in year one, and rental yield is 9.61% on a $174,900 entry. Equity gained on principal adds $1,129/yr, while 5% annual appreciation builds toward $48,322 over five years. Five-year ROI reaches 131.51% and total cumulative return in cash sums $76,248. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,400/mo property income rather than buyer’s personal income.
Single Family
Built in 1900
5,837 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 16102, New Castle, PA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,463 (100%) |
| Owner Occupied HU | 1,649 (67.0%) |
| Renter Occupied HU | 556 (22.6%) |
| Vacant Housing Units | 258 (10.5%) |
| Median Home Value | $157,935 |
| Average Home Value | $274,357 |
Housing Distribution
Address Breakdown
Residential
2,290
Single Family
2,242
Multi-Family
48
Businesses
103
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Listed by: Ryan Mulhollen • KELLER WILLIAMS REALTY
Mls Name: WPMLS
Mls ID: #1720075