340 W 24th StEriePA16502
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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 340 W 24th St, Erie, PA, 16502 uses $33,150 cash to close to unlock $5,064/yr annual cash flow and $422/mo monthly cash flow. Total monthly income runs $1,086/mo, and a $489/mo payment keeps the spread at $422/mo. Purchase price stands at $100,000, and rental yield measures 13.03% with $1,086/mo rent. Return on cash invested shows 35.19% in year one, and 5% annual appreciation builds toward $27,628 over five years. Five-year ROI reaches 185.32% and total cumulative return in cash records $61,432. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,086/mo property income covering a $489/mo payment rather than investor’s personal income.
Multi Family
Built in 1882
9,583 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 16502, Erie, PA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 7,681 (100%) |
| Owner Occupied HU | 2,457 (32.0%) |
| Renter Occupied HU | 4,325 (56.3%) |
| Vacant Housing Units | 899 (11.7%) |
| Median Home Value | $87,569 |
| Average Home Value | $133,334 |
Housing Distribution
Address Breakdown
Residential
6,831
Single Family
6,046
Multi-Family
785
Businesses
424
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Listed by: Jenna Ramsey • Coldwell Banker Select - Airport
Mls Name: GEMLS
Mls ID: #184449
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.