313 East AveEriePA16507
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 313 East Ave, Erie, PA, 16507 priced at $169,900 pairs $1,243/mo rent with $129/mo cash flow after a $832/mo payment. Total monthly income equals $1,243/mo, and annual cash flow comes to $1,551/yr on $56,322 invested. Return on cash invested is 22.66% in year one, and rental yield stands at 8.78% on a $169,900 basis. Equity gained on principal adds $1,096/yr, and 5% annual appreciation accumulates to $46,940 by year five. Five-year ROI measures 118.17% and total cumulative return in cash reaches $66,554. For financing, Ziffy Mortgage’s DSCR program evaluates $1,243/mo property income against a $832/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1954
4,356 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 16507, Erie, PA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,038 (100%) |
| Owner Occupied HU | 1,142 (28.3%) |
| Renter Occupied HU | 2,148 (53.2%) |
| Vacant Housing Units | 748 (18.5%) |
| Median Home Value | $69,504 |
| Average Home Value | $121,219 |
Housing Distribution
Address Breakdown
Residential
3,625
Single Family
3,283
Multi-Family
342
Businesses
319
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Listed by: Tim Bogdanets • Howard Hanna Erie Southwest
Mls Name: GEMLS
Mls ID: #187449