318 Parade StEriePA16507
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 318 Parade St, Erie, PA, 16507 priced at $145,000 pairs $1,398/mo rent with $448/mo cash flow after a $710/mo payment. Total monthly income equals $1,398/mo, and annual cash flow comes to $5,370/yr on $48,068 invested. Return on cash invested is 31.08% in year one, and rental yield stands at 11.57% on a $145,000 basis. Equity gained on principal adds $936/yr, and 5% annual appreciation accumulates to $40,061 by year five. Five-year ROI measures 163.29% and total cumulative return in cash reaches $78,488. For financing, Ziffy Mortgage’s DSCR program evaluates $1,398/mo property income against a $710/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1920
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: Jake Scheloske • Agresti Real Estate
Mls Name: GEMLS
Mls ID: #185662