3122 Plum 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 3122 Plum St, Erie, PA, 16508 priced at $110,000 converts $1,180/mo rent into $319/mo cash flow after a $538/mo obligation. Total monthly income equals $1,180/mo, and annual cash flow totals $3,822/yr on $36,465 invested. Return on cash invested prints 30.39% in year one, and rental yield reads 12.87% against a $110,000 entry. Equity gained on principal adds $710/yr, while 5% annual appreciation compiles into $30,391 by year five. Five-year ROI reaches 161.25% and total cumulative return in cash sums $58,800. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,180/mo property income covering a $538/mo payment, not borrower’s personal income.
Multi Family
Built in 1936
3,711 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: Pat Doran • Howard Hanna Erie Airport
Mls Name: GEMLS
Mls ID: #183637
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.