3102 Ellsworth AveEriePA16508
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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 3102 Ellsworth Ave, Erie, PA, 16508 uses $74,588 cash to close to unlock $5,878/yr annual cash flow and $490/mo monthly cash flow. Total monthly income runs $1,964/mo, and a $1,101/mo payment keeps the spread at $490/mo. Purchase price stands at $225,000, and rental yield measures 10.47% with $1,964/mo rent. Return on cash invested shows 27.79% in year one, and 5% annual appreciation builds toward $62,163 over five years. Five-year ROI reaches 145.6% and total cumulative return in cash records $108,597. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,964/mo property income covering a $1,101/mo payment rather than investor’s personal income.
Single Family
Built in 1947
0.48 Acres 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: Libby Remache • Howard Hanna Erie East
Mls Name: GEMLS
Mls ID: #185588